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It is unclear if the Oversight Board will accept the law and how much it differs from Board-endorsed legislation that failed last week in the legislature.

Daily report for October 27, 2021

As of now, returns for the month will very likely end in the red. The Bloomberg U.S. Municipal Index is at -0.40% for the month and +0.39% for the year.

Senate Banking Committee Chair Sherrod Brown said he expects President Joe Biden will release a combination of nominations to the board of the Federal Reserve at the time he unveils his decision on the central bank chair.

Fitch joined Kroll and Moody's in moving Chicago's outlook to stable from negative as City Council prepares to vote on a budget and $4.4 billion in borrowing.

S&P raised the Hillsborough County Aviation Authority, Florida’s customer facility charge revenue bonds for Tampa International Airport to A-minus from BBB-plus. It also raised HCAA's senior and subordinate liens for TPA.

Transportation and transit projects would be eligible uses of ARPA funds under the bill, which also extends the deadline to spend the funds.

S&P lifted its outlook to stable on Minneapolis' AAA rating and Fitch went positive on its AA-plus rating.

The $162 million tax-exempt new money deal is bolstered by two ratings upgrades and analysts say it will generate a lot of investor interest on Wednesday.

If commuters continue to work from home more often than in the office, their normal spending patterns on things like coffee and lunch will shift and impact business districts, neighborhoods and ultimately tax revenues.

Jeffrey Cleveland, chief economist at Payden & Rygel, discusses the Federal Reserve’s upcoming meeting, inflation, what taper will mean, when the Fed might decide to lift off, and possible leadership changes. Gary Siegel hosts. (30 minutes)

Daily report for October 26, 2021

Despite a short-end U.S. Treasury rally, municipals face pressure on the one- and two-year as participants look to month-end positioning.

Judge Laura Taylor Swain contemplates dismissing the bankruptcy, which would leave bondholders in position to sue for full payment.

The fast pace of the Democratic negotiations may act in muni market's favor.

The state will help back the $200 million project through up to $17 million of municipal bonds to be issued by the Virginia Public Building Authority.

Goldman Sachs has joined three other top bond underwriters that haven't done Texas deals under a state law targeting firms with perceived anti-gun policies.

Brad Lander and Daby Carreras jostled over whether the city's move is a sound investment and effective against climate change.

Treasury Secretary Janet Yellen defended Federal Reserve Chair Jerome Powell’s record on regulating the financial system amid attacks by progressives seeking to deny him a second term — even though in the past she’s expressed some misgivings about rulemaking under his watch.

Options for the beleaguered transit authority include expanding its commuter rail base and cracking down on fare evasion.