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The nearly 40% year-over-year decrease is a result of various factors including rising interest rates, other financing tools, such as forward delivery bonds, and simply that refundings are in less demand from issuers.

Larry Martinez replaces James Kerr, who plans to retire, but will retain his role as chairman.

The settled proceeding against Anthony Falsetta, announced Tuesday, is the latest in a string of SEC cases targeting violations of retail order periods.

Illinois' tardy fiscal 2020 financial statements offer a view of COVID-19's early impact on the state's finances.

Long-term damage to municipal credits in the powerful hurricane’s path is not likely, according to early reports from analysts.

The absence of advance refunding and a direct-pay bond program in the bipartisan infrastructure package has lobbyists pushing for inclusion of those things in the reconciliation bill, a matter only weeks away.

Moody's assigned its Baa1 rating to the California Institute of the Arts, which traces its lineage to Walt Disney, ahead of the university's $33 million debut in the public debt markets.

The members of Congress, in asking that Biden find some other, unspecified, nominee, are going against the preference of Treasury Secretary Janet Yellen, who has told Biden advisers that she wants to see Powell renominated.

Cooper Howard, director of fixed income strategy at the Schwab Center for Financial Research, talks with Chip Barnett about what municipal bond investors can expect in the second half of the year – low yields and strong fundamentals. He looks at continuing bond fund inflows, rising taxable issuance and compressed spreads. (14 minutes/Taped Aug. 3).

Daily report for August 31, 2021

Federal benefits for Child Tax Credits will also be expanded.

Returns of negative 0.40% would be the third-worst August performance of the past 10 years, according to Bloomberg data.

Paul Arevalo, who joins as a managing director in Pasadena, adds to the broker-dealer's California growth path since it entered the state a decade ago.

The pandemic has prompted rare bipartisan consensus the U.S. needs a job creation program focusing on the middle class and acknowledging rural communities while upgrading infrastructure.

S&P has Muncie and Plainfield on its watch list with negative implications.

Sturdy contracts support repayment of AMP's Prairie State Energy Campus bonds but the coal-fired plant faces pressure from Illinois decarbonization legislation.

The fast-growing Texas capital was downgraded by Fitch Ratings ahead of a $328 million bond sale that is expected to price in September.

Federal Reserve Chair Jerome Powell risks inflation getting out of control and his assurance that the central bank can keep it in check neglects to mention this would require traumatic surgery, said former Richmond Fed President Jeffrey Lacker.

Municipal issuers with the biggest threats from physical climate risk also have the largest liabilities for carbon transition.

New York State's comptroller cited the strength of the pension system in the drop to 5.9% from 6.8%.