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Daily report for April 14, 2022

The state’s personal income tax revenue and sales tax revenue bonds were also lifted from Aa2. Related credits were also upgraded. The rating outlook is stable.

Investors pulled more from municipal bond mutual funds as the Investment Company Institute on Wednesday reported $4.786 billion of outflows, up from $4.459 billion of outflows in the previous week.

The the $389.495 million of tax-exempts were sold late last month to help fund construction of the Broward County Convention Center Headquarters Hotel.

States need to balance the growing concerns about oil prices with the need for infrastructure, Secretary of Transportation Pete Buttigieg said.

High gas prices usually have the biggest effect on leisure travel because drivers take fewer or shorter trips, Fitch Ratings says.

As risk management becomes a major driver for banks, we discuss how to approach these questions in a different way

Denver will head to the municipal market next week with its biggest new money general obligation bond sale ever at $366.4 million.

Apollo will make an equity and credit investment that will significantly increase SWS’s underwriting capacity for municipal and corporate debt, as well as equity offerings, the firms said.

Daily report for April 13, 2022

The March consumer price index offered little to deter the Federal Reserve from its aggressive plans, but markets saw it as a positive, having feared an upside miss.

The Fitch Ratings upgrade to A-plus applies to $80 million in debt issued for the University of Portland in Oregon.

The underwriters filed a defense to the court earlier this month and analysts are skeptical of MBIA’s chances of prevailing.

Using a surplus to build reserve levels was key for the outlook change, the rating agency said.

With the Federal Reserve planning aggressive rate hikes and balance sheet reduction, Dec Mullarkey, managing director of investment strategy and asset allocation at SLC Management, discusses the Federal Open Market Committee meeting minutes, his analysis of the economy and what to expect going forward. Gary Siegel hosts. (33 minutes)

"If you clean it, they will come," says an EPA official as new federal environmental funding helps cities revamp old industrial areas into new neighborhoods.

Daily report for April 12, 2022

NOTICE IS HEREBY GIVEN that, pursuant to the applicable provisions of the governing documents of the above captioned bonds (the “Bonds”), $890,000 principal amount of the Bonds will be redeemed on May 15, 2022, at a Redemption Price of 100.00%, together with interest accrued to May 15, 2022, interest on the Bonds shall cease to accrue.

NOTICE IS HEREBY GIVEN to the holders of the above-referenced bonds that the City of Bennettsville, South Carolina, on April 7, 2022, issued its $7,421,000 Combined Utility System Refunding Revenue Bond, Taxable Series 2022A (the “Series 2022A Bond”). A portion of the proceeds of the Series 2022A Bond will be used for the purpose of effecting the advanced refunding of the 2013 Bonds which mature on February 1 in the years 2023 to and including 2034 which will be called for redemption on February 1, 2024.

Triple-A yields continue to rise, with the two-year muni just below 2%, the five well above and the 10-year approaching 2.5%.