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Municipals have been resilient throughout the pandemic — with the help of federal aid — keeping the Golden Age for public finance alive.

Another banner year for the municipal bond industry although not a record setter.

A state-by-state review of 2021 issuance in the Southwest.

They say a Plan B that does not involve local legislative approval must be negotiated.

Daily report for February 22, 2022

NOTICE IS HEREBY GIVEN tGIVEN that, pursuant to the applicable provisions of the governing documents of the above captioned bonds (the “Bonds”), $9,820,000 principal amount of the Bonds will be redeemed on April 1, 2022, at a Redemption Price of 100.00%, together with interest accrued to April 1, 2022, interest on the Bonds shall cease to accrue.

At issue is about $400 million the board would like Puerto Rico's government to retain.

The new-issue calendar for the holiday-shortened week is $4.98 billion, with $3.633 billion of negotiated deals and $1.347 billion of competitive loans.

The Federal Reserve formally adopted tough, sweeping restrictions on officials’ investing and trading, aiming to prevent a repeat of the ethics scandal that engulfed the U.S. central bank last year.

The Puerto Rico Fiscal Agency and Financial Advisory Authority has requested pre-qualified investment banks to provide ideas and opportunities for refunding for savings.

Michigan State, supported by a better bond rating outlook, will join the small club of higher education institutions using a 100-year taxable bond structure.

The evolution of environmental, social and governance investment has been rapid in the muni market. Early adapters discuss its implications.

Much of the new infrastructure funding can't flow to states until a full FY22 bill is enacted.

High material costs and labor shortages are expected to persist through 2022 just as states and localities are planning how to spend the Infrastructure Investment and Jobs Act money.

Municipal bond issuers in the Southwest sold $90.8 billion of debt in 2021, down 3.2% from 2020 as lost refunding volume outpaced a gain in new-money sales.

Daily report for February 18, 2022

Federal Reserve Bank of Cleveland President Loretta Mester said she supports raising interest rates next month and tightening policy at a faster pace if needed to curb inflation.

Refinitiv Lipper reported outflows after inflows of $216 million the previous week.

Federal Reserve Bank of St. Louis President James Bullard said bringing down inflation may require the central bank to overshoot a neutral target interest rate, which he sees as about 2%.

Credit strengths include strong market position and service area economic fundamentals and an expected continued strong finance performance.