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Factors such as financial disclosure schedules are one reason big bond deals from New York City and the state have to share tight space in the bond calendar.

Daily report for September 28, 2026

Munis are entering a negative feedback loop, according to J.P. Morgan analysts led by Peter DeGroot.

Credit ratings for California utilities could face downward pressure as recurring wildfire risks test safety funds and strain balance sheets.

"In a few years, Brightline may have to consider going through something like this again," warned one investor.

Bondholders and Assured Guaranty are providing substantial funding in post-petition and post-bankruptcy packages to keep the project operating.

GASB has issued updated questions and answers designed to clarify how subsidies relate to operating revenue, an important distinction affecting higher education, and transportation entities.

Ahead of a refinancing next week and a new money deal next month, Chicago's spreads have widened, suggesting the market may be pricing in a downgrade, analysts said.

Moody's Ratings said the downgrade "reflects a weakening of the county's financial position."

The RSA and bankruptcy would "significantly deleverage Brightline's balance sheet and greatly improve liquidity," the company said.

The veto means California won't have a new vehicle to fund large-scale infrastructure. Newsom also killed a bill to unwind pension reforms.

Daily report for September 25, 2026

Muni yields are succumbing to a "domino effect," said Kim Olsan, portfolio manager at NewSquare Capital.

A three judge panel upheld a lower court rejection of the bondholders' suit against Puerto Rico's central government.

Maryland enters the data center regulation movement as Governor Wes Moore signs an executive order and signals an end to sales tax exemptions.

The selloff in munis this week is "against a backdrop of historic bid wanted in competition volume, continued rate volatility, tax-loss selling [and] unfavorable technicals," said J.P. Morgan strategists.

Strong rainy-day funds remain a key buffer, but states that rely on volatile revenues or face rising Medicaid, education and infrastructure costs may have less room to absorb the next shock, writes Market Intelligence analyst Jeff Lipton.