Commercial banking

The outage began at 5:30 a.m., leaving about 1.3 million of Puerto Rico's 1.4 million customers in the dark, according to Luma Energy, the private company that operates the system. Crews have begun restoring electricity in some areas, but it may take 24 to 48 hours to fully resume service, officials said.

Prolific debt issuance by Texas school districts, state issuers, and others drove muni volume to a state record in 2024, easily surpassing 2023's $59 billion.

Daily report for December 31, 2024

Mark S. Bonta is the Executive Director of the Recovery Jobs Foundation, an initiative  focused on reintegrating individuals in recovery into the workforce. With 20 years of  experience as a Plant Director and 6 years of experience as a recovery-friendly employer,  he pioneered the New Hampshire Recovery Friendly Workplace Initiative (NH-RFWI) as one  of the first RFW's in the nation. Mark's leadership has been recognized with several awards,  including the 2022 Littleton Area Chamber of Commerce Citizen of the Year Award and the  2023 White Mountains Community College President's Community Partner Award.  Currently formalizing the Recovery Jobs Foundation, he also serves on the NH-RFWI  Advisory Council, and as Secretary of the Florida Recovery-Friendly Workplace Coalition.

Both IG and HY indices will likely end this year richer versus USTs and their benchmarks, "leaving very little cushion to absorb rate volatility," said Barclays strategist Mikhail Foux.

Alex Konanykhin is the co-founder and CEO of Unicoin.

The resolution marks the end of a yearslong lawsuit.

"It's an unfortunate part of doing business," said an investor.

San Francisco's "tepid" recovery from the pandemic was cited by Fitch.

The public finance community remembers President Jimmy Carter's pivotal roles in the near bankruptcy of New York City, deregulation of the transportation industry, and his contributions to state and local governments.

Monica S. Simon is head of legal at Forge Global and has over 15 years of experience as a securities lawyer in both public and private markets.

Before joining Forge, she was deputy general counsel at Carta, and general counsel for Carta's broker-dealer entity. Prior to that, Simon was an attorney with Willkie Farr, where she advised registered broker-dealers and investment advisors, and assistant general counsel at Goldman Sachs, where she covered equities sales and trading and was counsel for the Goldman Alternative Trading System.

Steve Novak is the Senior Director of Accountant Partnerships at Navan, where he leads the company's efforts to help accounting firms transform their CAS practices through technology automation. Previously, he spent over six years at BILL, holding key leadership roles, including Senior Director of Business Partnerships and Senior Director of Accountant Partnerships. During his tenure, he played a crucial role in expanding BILL's Accountant partner network, driving adoption of its payment management platform. Prior to his time at BILL, Steve held various roles at BlackLine, XCM Solutions, and Thomson Reuters. 

The $33 billion funding gap in the authority's five-year capital plan is too big, the Senate majority leader and Assembly speaker said in a rejection letter.

President-elect Donald Trump's return to the White House promises sweeping tax changes that could impact the aspects of the tax-exempt bond market.

Daily report for December 30, 2024

Patrick is the founder and CEO of Sidecar Health. He has more than 20 years' experience in sales, marketing, product, and engineering with both public and private companies. Prior to Sidecar Health, Patrick was Chief Executive Officer at Katch, a leading online enroller of consumers in individual health plans. Patrick was also part of the founding management team at QuinStreet, (QNST), an executive at BEA Systems (BEAS), and a consultant at McKinsey & Company.

While Friday's muni session was muted, the damage of a volatile UST market, paired with low new-issue supply and year-end positioning, has weighed on the asset class in December.

Ryan Baillargeon, Insurance Industry Lead at Glia. 

A decline in debt service coverage drove S&P's four-notch downgrade for Salinas, California, sewer revenue debt, which it placed on CreditWatch negative.