Subject Root Tag

Daily report for April 26, 2023

One underwriter called it a "violent inversion," given that the short end of the municipal and Treasury yield curves were so dislocated.

While the system took a hit during the COVID-19 pandemic, total traffic hit 94% of pre-pandemic levels in 2022. Traffic for the first two months of 2023 was 99% of levels in the same period of 2019.

"We know this cliff is coming," said state Sen. Ram Villivalam, head of the state Senate transportation committee. "What structural reforms are we looking at implementing? What innovation can we pursue?"

The parties haven't been engaging in mediation, angering Judge Swain.

A default would halt federal payments and could delay key infrastructure projects

A bill that advanced last week in the Texas Legislature would force a citywide vote on bonds for the Project Connect plan to build light rail.

While Nuveen is a storied and well-respected institution in our business, it did not define John Miller.

Daily report for April 25, 2023

The "weakness in the secondary market will carry over into this week, which may lead to higher yields and wider spreads in the primary market," said CreditSights strategists Pat Luby and Sam Berzok.

Except for the riskiest sectors, high-yield credit fundamentals appear to be strong, but rising interest rates and fund outflows are dampening primary and secondary market activity.

Still no clarity as the banking crisis adds to the difficulty of predicting an economy still feeling COVID impacts and uncertainty about the prospects for a recession.

The Republican-controlled legislature sent the governor a tax cut bill that included replacing the state's three-tier personal income tax structure with a flat 5.15% rate.

The 3.7% shortfall for the first nine months of the fiscal year was driven largely by shortfalls in personal income tax receipts.

A bill to prevent developers from buying bonds issued by their metropolitan districts died, but another measure limiting interest rates in such cases was enacted.

Daily report for April 24, 2023

How $5.7 billion will be divided among creditors remains to be figured out.

Investors will be greeted Monday with a new-issue calendar estimated at $7.208 billion, led by $1.3 billion of GOs from bellwether Washington.

Chicago outgoing mayor offered a parting shot against pending state legislation that stands to add to city pension costs, but sponsors say the fix was promised and is needed to avoid violating federal rules.

Photos from The Bond Buyer's Texas Public Finance conference.