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Issue is disposition of $1 billion to $2 billion of Puerto Rico government funds.

Investors pulled more from municipal bond mutual funds in the latest week, with Refinitiv Lipper reporting $2.875 billion of outflows, down from $3.548 billion of outflows in the previous week.

Transportation Secretary Pete Buttigieg heard concerns from both sides of the aisle during his latest appearance on Capitol Hill.

The suit by local police pension funds slowed the consolidation process that Gov. J.B. Pritzker touted as helping local governments manage rising pension costs.

Several firms' ability to underwrite municipal bond issues in Texas is under review.

The city has received a notice from the IRS seeking evidence bond proceeds were used on the construction, rehabilitation or repair of public school buildings.

If state and local governments make progress on social problems with federal relief funds, it could be credit positive for them, Moody’s Investors Service said.

Senate Banking Committee Chairman Sherrod Brown said Wednesday that the Senate would wait to confirm President Biden’s Federal Reserve picks until the return of Democrats recovering from the coronavirus.

In a recent survey, just over half of community bankers expressed concern that the central bank will harm the U.S. economy by raising rates too fast in its quest to contain inflation.

Daily report for April 28, 2022

In the week ending April 13, investors pulled $5.526 billion from the funds, down from $7.227 billion of outflows in the previous week, ICI reported.

The city's share of American Relief Plan Act funds eased fiscal pressures and provides runway for the city to work on a pension funding fix.

The Kentucky Public Transportation Infrastructure Authority wants to sell up to $443.8 million in tax-exempt refunding bonds when market conditions improve.

In a win for the Oversight Board and bondholders, an appeals court shut down a teachers' associations challenge, but another case challenging the plan has yet to be decided.

California expects to receive nearly $40 billion from the Infrastructure Investment and Jobs Act.

Daily report for April 27, 2022

The board says the governor will have to make many changes to its budget.

Relative cheapness, wider spreads and underperformance in munis are providing better value, all set against a very solid and resilient credit background, analysts say, but supply is testing investor sentiment amid volatility.

Lael Brainard was confirmed as vice chair of the Federal Reserve Board of Governors Tuesday in a 52-43 Senate vote, the first of four central bank nominees set for consideration by the chamber.

A trio of COVID-19 cases among Democrats is expected to delay Senate plans to confirm Federal Reserve nominee Lisa Cook and Federal Trade Commission nominee Alvaro Bedoya this week.