Commercial banking

KBRA revised the outlook to negative on the Chicago Transit Authority's AA-minus rated TIFIA bonds, backed with farebox and operations revenue.

Democrats on the House Ways and Means Committee announced a new bill that would restore the power of applying tariffs back to Congress amidst accusations of market manipulation and political ineptitude by the Trump administration.

Triple-A muni yields plummeted up to 50 basis points Thursday in a dramatic reversal from the week's earlier collapse. Speaking live at The Bond Buyer's Texas Public Finance event, market leaders painted a picture of extreme volatility, impaired liquidity, and an uncertain path forward.

The state, which has cut income taxes with more cuts scheduled, is on a path to a greater than 10% budget deficit in three years, say the legislature's analysts.

Daily report for April 10, 2025

Shaye-Ann Hopkins is a behavioral researcher at Duke University, where she works with design tools and interventions that enhance wellbeing. Her work focuses on designing and testing behaviorally informed solutions that support healthier financial behaviors and more resilient communities.

Kahini Shah is a behavioral researcher at Duke University. Her work primarily focuses on leveraging insights from human behavior to design products and systems that promote financial wellbeing. She has worked on projects across the globe to help people build wealth, increase their savings, and reduce their debt.

The Bond Buyer took the pulse of municipal bond market pros to see what they are doing and advising in the midst of the volatility driven by President Trump's shifting tariff policies.

"The equity market is looking at this more positively, but bonds are still thinking, 'Well, these tariffs still have to be resolved,'" said Kim Olsan, a senior fixed income portfolio manager at NewSquare Capital.

The top 25 state and local pension funds alone have seen the value of their public equities investments drop by a total of nearly a quarter of a trillion dollars in 2025, with roughly $169 billion of those losses coming during the four trading days that followed the Trump administration's April 2 announcement on global tariffs, a think tank said Wednesday.

Some congressional Republicans are concerned taxpayers aren't getting a good return on their investment in transit, as lawmakers gear up for work on a new transportation bill.

The district was created to finance the redevelopment of the Delta Center, home to professional basketball and hockey, as well as other downtown projects.

Michelle Bonat is the chief AI officer at AI Squared, with a history of leadership roles in AI and technology, including AI CTO at JPMorgan Chase and head of AI Innovation at Chase. She led global engineering and product initiatives at Oracle across 30 countries and founded a fintech startup. A patent holder and hands-on data scientist always experimenting with the next new innovation, Michelle also drove product leadership at three companies that were acquired including Ariba (acquired by SAP).

Stocks surged moments after Trump's announcement of the 90-day pause for most countries on high tariffs he announced last week that have roiled markets.

Municipal AAA yield curves were cut up to another 42 basis points, depending on the curve, as of noon, pushing yields to multi-year highs and long-end muni to UST ratios above 100%. Muni yields have risen up to nearly 100 basis points in spots since the bond market rout began.

A $125 million bond sale by the Indianapolis Local Public Improvement Bond Bank for Indianapolis public transit operator IndyGo is on day-to-day status.

It is sadly not possible to prevent 100% fraud scenarios from occurring; however, reassessing your firm's processes for identifying red flags may be a good place to start.  

The Affordable Housing Credit Improvement Act is reintroduced in the House of Representatives with bipartisan support to increase the development of affordable housing by leveraging private activity bonds and loosening restriction on Low Income Housing Tax Credits.