Investments

Moody's Ratings upgraded Nebraska's issuer rating to Aaa from Aa1 on Monday. It also upgraded the state's $24 million certificates of participation to Aa1 from Aa2.

Fallout from the Legacy Cares deal includes bondholder lawsuits against the underwriter and bond counsel, payment defaults, a Chapter 11 bankruptcy, and now fraud charges from the SEC and DOJ.

Washington Gov. Bob Ferguson told lawmakers approving an unsustainable budget would put bond ratings at risk.

A bill exempting local governments from a law prohibiting contracts with firms that "boycott" fossil fuels met a key milestone as did a pro-gun blacklist bill.

The deal will raise money for general purposes as the Ivy League school faces cuts to government grants as the Trump administration attacks higher education.

Lawmakers have proposed record high spending but left key needs unfunded, the Citizens Budget Commission warns as the state misses its April 1 deadline.

The SEC and DOJ announced charges in connection with municipal bonds issued for the Legacy Cares sports complex in Arizona, which defaulted and went bankrupt.

Triple-A yields have fallen as much as 12 basis points over the past three trading sessions.

President Trump's bid to close the Department of Education could put added pressure on some charter school credits, muni market sources said.

Nebraska Rep. Don Bacon, a Republican, has penned a "Dear Colleague" letter asking lawmakers to publicly support tax-exempt municipal bonds.

Seventeen states now allow or are considering legislation that allows reserve funds to be invested into cryptocurrency while sixteen are moving towards allowing crypto investments in their pension funds.

New York Power Authority CFO Adam Barsky and Battery Park City Authority CFO Pamela Frederick join The Bond Buyer's Lynne Funk to unpack the far-reaching consequences of eliminating, reducing, or limiting the federal tax exemption for municipal bonds.

The Governmental Accounting Standards Board is seeking input from the public about its preliminary views on clarifying changes to disclosure regulations related to state and local governments under severe financial stress and facing probable dissolution.

Legislation addressed expanding water supply, paying for flood damage, financing for capital projects, as well as a fiscal 2026 spending plan.

The asset class extended its selloff last week as concerns regarding the tax-exempt status of munis continued to mount, combined with a heavy new-issue calendar and tax season selling by investors, said Jason Wong, vice president of municipals at AmeriVet Securities.

Closing is scheduled for White Lake Township, Michigan's second try at a GO bond sale after the first was interrupted by the cybertheft of bond proceeds.

The Maine Turnpike Authority is navigating a rocky road back to the market. 

Notable deals include a $600 million refunding deal by the New York City Municipal Water Authority and almost $400 million from Rochester, Minnesota.

Foothill Gold Line Construction Authority had to rethink the final leg of a 60.2-mile light rail line when the contractor's final bid came in 50% higher than its estimated project costs.

"It seems like hitting last year's volumes should be within the strike zone for the marketplace," said Kyle Javes, a managing director and head of municipal fixed income at Piper Sandler.