Commercial banking

The Federal Reserve governor's term was set to expire in January and President Donald Trump has made it clear that she would not be reappointed. The vacancy will give Trump an opportunity to appoint someone new to the central bank's board.

Municipal yields fell four to seven basis points, depending on the curve, while UST yields rallied nine to 30 basis points, with the largest gains on the front end.

Legislation that would put a tighter limit on property tax increases for larger cities and counties advanced out of a Senate committee on Friday.

Moody's cited continued liquidity improvements in the ratings lift for the northern California clean energy aggregator.

The federal government didn't have enough influence in the resulting haircuts to the COFINA bondholders for it to be liable for their losses, the court said.

This is the fourth consecutive month where issuance has topped $50 billion.

Amid higher ed sector headwinds, financially challenged colleges and universities have options, although the choices may be difficult, Orrick attorneys write.

Kevin Roche, a partner in Orrick's New York office, is a member of its public finance department.

Lorraine McGowen, a partner at Orrick, is a leading bankruptcy and restructuring attorney.

Jenna Magan is co-head of Orrick's Public Finance Group and is a partner in the Sacramento office.

Emanuel "Manny" Grillo is a partner in the restructuring practice at Orrick, Herrington & Sutcliffe in New York.

Analysts say the outcome of the special session called by Gov. Tina Kotek to avert layoffs and close a transportation funding gap could affect ratings.

Daily report for August 01, 2025

Tax-exempt munis have underperformed year-to-date, said David Hammer, a managing director and portfolio manager at PIMCO.