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“Compromised systems can directly affect public finance entities in the near term,” says Fitch's Omid Rahmani, citing ransomware risks.

For investors in the municipal bond market, 2021 proved to be a year of hurdles. This is likely to change, particularly for investors in the municipal bond market.

Daily report for January 14, 2022

President Biden will nominate Sarah Bloom Raskin to be the Federal Reserve’s vice chair for Supervision and Lisa Cook and Philip Jefferson to be governors. The selections keep a Biden promise to improve diversity at the Fed.

The primary led Thursday's firmer tone while Chicago schools faced 10 to 20 bp penalties compared to price talk, signifying investors are being more selective and demanding more in the new higher-yield range.

COVID-19 hit the Lombard, Illinois, Westin hotel and conference center hard, knocking repayment of bonds restructured in a 2018 bankruptcy off track.

The latest round of federal aid is not enough to move the needle over the long term.

The city’s financial status was so distressed after the 2008 economic crash that there was talk of insolvency.

The Internal Revenue Service has released guidance providing temporary relief for low-income housing tax credit and private activity bond-financed properties due to the ongoing threat of COVID-19.

The new water resources act comes as the Army Corps of Engineers' civil works program is set to see the largest influx of funding in its history.

The project will put an equity lens on investment practices that fund infrastructure.

California officials blame a new electronic records system for reporting delays that worsen every year, though other states don't have the same problem.

Mayor Eric Adams’s proposal to ask the state to raise the Transitional Finance Authority’s bonding authority by $19 billion is being opposed by Comptroller Brad Lander.

Daily report for January 13, 2022

Supply is beginning to roll in and the primary action on Wednesday provided more direction. ICI reports $1.4 billion of inflows.

The financing will help pay for upgrades that will keep the Cleveland Guardians at Progressive Field through 2036.

The Economic Activity Index is up 3.5% from a year earlier.

The agency cited “the appropriation of the full actuarial pension contribution in fiscal 2022 for the first time in 26 years" coupled with improved reserves.

Federal Reserve Bank of Cleveland President Loretta Mester said the central bank should shrink its balance sheet as fast as it can without disrupting financial markets and repeated her backing to a March interest-rate increase.

“We are anticipating a substantial present value savings as a result of our being proactive,” said the spokeswoman for state Treasurer John Schroder.