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Daily report for September 09, 2022

The upgrade "reflects material strengthening of the state's financial resilience and budget management, particularly over the past two biennia," the rating agency said.

Judge Swain grants the mediation team's request for an extension until Sept. 16 and possibly longer.

The decision follows months of turmoil that left the city without an approved budget well into the new fiscal year, said Moody's analyst Douglas Goldmacher.

Outflows from municipal bond mutual funds receded as investors pulled $1.090 billion out of funds in the latest week, versus the $3.416 billion of outflows the prior week, according to Refinitiv Lipper data.

"I think that we've got a good plan in place. We could very well do 75 in September," he said.

A national conference is planned for the spring to bring together states, utilities and the private entities that will own and operate the national EV charging station system.

Richmond issued $154.1 million in pension obligation bonds in a refunding that terminates swaps, ends a county intercept, and extends the final maturity.

Tollway revenue in the first half of 2022 surpassed pre-pandemic 2019 levels in five of the months.

The firms have introduced the Municipal Bond Insights, which assesses climate and community resilience and risk for the public finance sector.

"We need to act now, forthrightly, strongly as we have been doing," Powell said Thursday in remarks at the Cato Institute's monetary policy conference.

Daily report for September 08, 2022

The bridge loan program announced in July will spare suburban taxing bodies from having to issue tax anticipation notes to bridge a months-long delay in property tax bills going out

The Kentucky State Property and Buildings Commission deal will fund capital improvements and public projects across the state.

The Investment Company Institute reported $2.527 billion of outflows from muni bond mutual funds in the week ending Aug. 31 compared to $765 million of outflows the previous week.

Surging state revenues eased the burden of managing fixed costs, Moody's says in an examination of state liabilities based on fiscal 2021 financial reports.

"The outlook for future economic growth remained generally weak, with contacts noting expectations for further softening of demand over the next six to twelve months," the Fed said Wednesday in its Beige Book report.

The shift towards flexible and remote work as a result of COVID-19 has already begun to reshape cities, moving concentration away from the centralized business districts.

Federal Reserve Bank of Cleveland President Loretta Mester also reiterated that she does not expect the Fed to cut rates next year, noting that policy makers need to keep inflation expectations from becoming unanchored.

Judge Swain may approve the amended version in the next few weeks.