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Daily report for April 11, 2024

West Virginia Treasurer Riley Moore, who's put banks on a blacklist for their support of ESG policies, is up for (and very likely to win) one of the state's two seats in the U.S. House. Here's how he got there, and what it'll look like when he tries to bring his anti-ESG policies national.

S&P's upgrade to BBB from BB-plus follows a March upgrade from Moody's Ratings, bringing the city to investment grade a decade after its historic bankruptcy.

"The news is sparking an equity market selloff while sending bond yields to the stars as investors dial down their Fed easing expectations again, this time to only two rate cuts this year," said José Torres, senior economist at Interactive Brokers.

The city gave no reason for the cancellation of its redemption plans or bond issuance, but reserved the right to call the 2010B BABs for redemption in the future.

The minutes underscored officials' reluctance to lower rates until they have more evidence inflation is firmly on a path to 2%, the rate they see as the sweet spot in a healthy economy.

The two attorneys who joined Chapman were part of the team who worked on CommonSpirit's massive financing in 2019.

Capital outlay investments in the governor's "common ground budget" provide over $1.4 billion in general fund cash and tax-supported debt for projects, including $100 million of bonds for improvements to wastewater treatment plants.

"DASNY's financing, construction and grants management on behalf of science, health and educational not-for-profits [are] the foundation for stronger, inclusive and more sustainable communities across the state of New York," said Robert J. Rodriguez.

The amendments add three new scenarios that warrant disclosure under MSRB Rule G-47 on time of trade disclosure.

Utah's Seven County Infrastructure Coalition has asked the U.S. Supreme Court to review an appeals court ruling that led to the loss of federal permits for a proposed bond-financed railway that would transport crude oil.

Goddard College became the latest small liberal arts school to close, citing long-term enrollment declines.

The T&I Committee is holding hearings on another landmark infrastructure bill.

DASNY, Washington, Massachusetts, Jefferson County, Alabama, and the New Jersey Education Facilities Authority entered the top 10, with the last three issuers coming to market after not issuing any debt in the first quarter of 2023.

With cyberattacks on the rise, issuers have had to keep fortifying their defenses against criminals targeting the public sector. 

Daily report for April 10, 2024

Wednesday's CPI report will "shed more light on the path of inflation and the potential timing for rate cuts this year," said Cooper Howard, a fixed income strategist at Charles Schwab.

The deal comes amid market inflows and a dearth of high-yield supply, but demand will depend, as always, on the price, investors said.

In question is FAFAA's findings of fact and conclusions of law, which bondholders say was unauthorized.

Since war broke out on Oct. 7 between Israel and Hamas, over $1.64 billion of Israel bonds have been sold to more than 35 U.S. states, counties, cities and municipalities.