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Report for January 21, 2020

Chicago’s $1.5 billion sale of general obligation refunding bonds and Sales Tax Securitization Corp. debt generated $310 million of budget savings.

The secondary market price has risen 40% since June 11.

Although municipal bond volume is expected to rise by almost $2 billion, it won’t be nearly enough to satisfy investors’ thirst for the asset class.

Only $14.9 billion has been disbursed out of the $48.35 billion allocated by Congress since Hurricane Maria.

The governor has recommended a $54.15 billion budget amid flat state revenue collections in the current fiscal year.

The Big Ten school, which has favored shorter maturities, is issuing 40-year bonds in a bid to diversify its debt portfolio and lock in low rates.

Mayor praised for restraint ahead of uncertainty about possible big cuts to city services by Albany.

NYC OMB Director Melanie Hartzog speaks about budget reserves.

NYC Council Finance Chair Daniel Dromm talks to Paul Burton on the budget process.

New York City Mayor Bill de Blasio unveils his preliminary fiscal 2021 budget.

Gov. Phil Murphy’s administration had held funds in reserve since July citing concerns about revenue projections.

Sources say Hopper has considerable experience with municipal securities in her many years at the Financial Industry Regulatory Authority.

Treasury will auction the new bonds in the first half of the year,

The Colorado-based Tri-State Generating and Transmission Association said it would retire its coal-fired power plants within 10 years.

Rhode Island's governor is asking lawmakers to forward $269 million worth of initiatives to voters.

David Hitchcock is celebrating 40 years at S&P Global Ratings as a municipal bond analyst.

Nicole Byrd, a senior investment professional at Nationwide Mutual Insurance, will be the National Federation of Municipal Analysts chair for the next year.

Waller is more likely to be confirmed, but it is "almost impossible" to find a public figure supportive of Shelton's nomination, let alone her confirmation.

Report for January 17, 2020