Investments

With enrollment and funding not keeping pace with rising costs, public education is feeling rating pressure at both the K-12 and higher education levels.

Investors are digesting developments in the Middle East and the Fed's decision not to cut rates, according to FHN Financial's Ajay Thomas.

Guam is diversifying its economy beyond tourism and the military, Gov. Lourdes Leon Guerrero said.

"We do good work," said Mike LaPierre, president of GPM Municipal Advisors, which acts as advisor and staff to the Public Finance Authority and the California Community Housing Agency.

The average muni bond trade size fell below $204,000 in the first quarter, down 5% from 2025, according to Municipal Securities Rulemaking Board data.

Saint Michael's College was downgraded to B3 from B1, as Moody's cited growing expenses and lower revenues.

"Really the only chance of high speed rail in the United States in the next decade is Brightline West," said Federal Railroad Administration head David Fink.

A New Jersey suburb will issue short-term debt as its officials try to recover $4.8 million stolen after a cyberattacker accessed a school district email.

Observers say there is a real chance that Democrats may win the governorships of Florida and Georgia, affecting the states' fiscal policies.

"The market is starting to feel a little bit on the heavy side," said Jamie Iselin, head of municipal fixed income at Neuberger Berman. "The Treasury market has been leaking higher as, I think, people are getting concerned that the conflict in the Middle East is going to [last] longer."

Moody's Ratings downgraded Northern Illinois University's issuer and revenue bond ratings to Ba1 from Baa3.

The Federal Railroad Administration is embracing a pro-business approach regarding emerging technology and funding rail crossing improvements.

"It became clear our residence halls were a constraint and not an asset for our university," WKU president Timothy Caboni said.

Muni yields increased "in sympathy with the Treasury market," according to Charles Schwab's Cooper Howard.

Fitch, Moody's, and S&P were sent a letter from 23 GOP state attorneys general over the use of ESG factors related to fossil fuel in negative rating actions.

Fitch Ratings cited Sacramento City Unified School District's fiscal challenges in downgrading its issuer default rating to junk and assigning a negative outlook.

Market Intelligence analyst Jeff Lipton argues MRBs can add value to conservative muni sleeves, but warns that extraordinary redemption features, prepayment behavior, loan origination performance and liquidity constraints can make redemption analysis just as important as credit analysis.

The state supreme court is hearing the case that affects $5 billion in authorized bonds, $150 million that have been issued.

The top two municipal bond insurers wrapped over $7.704 billion in the first quarter of 2026, up 4.9% year-over-year from the $7.342 billion in Q1 2025, according to LSEG data.

The administration's effort to revitalize the maritime industry includes opportunities for public-private partnerships.