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Daily report for December 23, 2025

Following the September/October rally, munis have been relatively steady in November and December, with direction and magnitude of rate change in the UST market driving underperformance or outperformance, said J.P. Morgan strategists led by Peter DeGroot.

The approved rates will go into effect on Jan. 1.

The governor announced $2.1 billion for road and bridge maintenance and flood repairs, financed with bonds backed by revenue measures in last year's budget.

U.S. electricity consumption has shifted from limited to rising growth due to the proliferation of data centers, which poses challenges for public power.

The Governmental Accounting Standards Board has issued an end of the year Statement which addresses inconsistencies in the financial reporting and definition of an accounting wormhole.

States and cities in the Northeast will have to balance economic challenges and federal cuts driven by the Trump administration and congressional GOP.

Daily report for December 22, 2025

The dramatic downgrade projects a default by January 2027 on bonds issued to finance the Miami-to-Orlando passenger train service.

Supply for the final two weeks of the year will be virtually nonexistent, with only one deal, $24.46 million of taxable multi-family/project bonds from the Colorado Housing and Finance Authority, on the calendar for next week.

A California Supreme Court ruling could eliminate the need for validation lawsuits before issuing pension obligation bonds, the winning attorneys say.

 In 2024, legalization states collectively generated a record-setting $4.4 billion in cannabis tax revenue from adult-use sales.

In a case stemming from a PACE bond authorization, the majority said language in Florida law giving finality to bond validations must be respected.

In a move cheered by public power companies, the House passed a bill that would give the Federal Energy Regulatory Commission authority to keep power plants open if their closure threatens reliability.

McAllister was elected six times starting in 2002 as the county treasurer-tax collector, and retired in August.

The larger story could be that some of the larger issuers are asking water lobbyists and lawmakers to push the EPA because of worries the administration may tamper with or even eliminate the program, said a WIFIA expert.

The Equitable School Revolving Fund, which has more deals in the works, has maintained its strong credit profile even as the sector has experienced headwinds.