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Stability at the state government level and the prospects of more aid in fiscal 2023 eased balance sheet pressures on Illinois' public universities.

From fund flows to Fed policy, investing in munis requires a more thoughtful strategy.

GOP lawmakers are considering a plan by Sen. Pat Toomey, the top Republican on the Senate Banking Committee, to boycott Tuesday’s committee votes on Raskin and President Biden’s four other Federal Reserve nominees. Such a move would deny Democrats a quorum to move forward.

Daily report for February 15, 2022

A crucial centrist vote among Democrats, the Montana lawmaker and Senate Banking Committee member predicts the full chamber will support Raskin's nomination for vice chair for supervision of the Federal Reserve Board if she advances out of committee on Tuesday.

Inflation remains under market scrutiny, with Monday’s data suggesting consumers expect price pressures to cool later this year.

Fitch affirmed its BB-minus rating of the Del Mar Race Track Authority. The rating dropped below investment grade after the March 2020 stay-at-home orders.

Their filings in court follow similar arguments they made against teachers' associations last week.

Despite competitive and demographic headwinds, Villanova's strong academic reputation as a selective private university will support student demand, Moody’s said.

Texas Sen. John Cornyn urged counties to continue to lobby for a bill that would allow ARPA funds to be used for transportation infrastructure and disaster relief.

Four Texas defaults reflect a sector that accounts for half of this year's municipal bond defaults, according to Municipal Market Analytics.

Daily report for February 14, 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.

On February 10, 2022, School District No. 1 of York County, South Carolina (the “School District”) delivered its $37,047,000 General Obligation Refunding Bond, Taxable Series 2022 (the “Refunding Bond”). The proceeds of the Refunding Bond have been applied to (i) effect the defeasance of the School District’s General Obligation Refunding Bonds, Series 2015A, dated March 18, 2015, maturing on and after March 1, 2028, and (ii) pay the costs of issuance of the Refunding Bond. This notice is given in accordance with Section 11-21-50 of the Code of Laws of South Carolina 1976, as amended.

Dennis Gingold, co-founder of the Reserve Trust company, says Republican allegations that central bank nominee Sarah Bloom Raskin behaved unethically in interacting with the Federal Reserve Bank of Kansas City while serving on the company's board are “completely false.”

Municipal yields rose up to 10 basis points on the short end, playing catch up to the volatility of Treasuries' moves on Thursday. Rising UST rates will inevitably be more significant for munis until they settle into more stable levels.

The SEC terminated its latest proceedings against the city after an independent consultant found the city was in "substantial compliance" with a 2014 judgment.

House fails to approve budget amendment allowing payment to bondholders.

The Volcker Alliance looks at the state’s outstanding municipal bonds and $83 billion in other obligations and suggests improved transparency and oversight.

In an interview on Thursday, Federal Reserve Bank of St. Louis President James Bullard discussed his outlook for monetary policy following a report showing surging consumer prices.