Investments

Nevada's audited 2023 financials were released more than two years after the fiscal year ended. The state controller says structural changes will reduce delays.

Investors added $672.3 million to municipal bond mutual funds in the week ended Wednesday, following $590.4 million of inflows the prior week, according to LSEG Lipper data.

The Civic Federation and the Federal Reserve Bank of Chicago co-hosted an event on Wednesday titled "Taxing Times, Smarter Strategies."

"We are expecting a lot of interest in the offering next week," said Geoff Urbina, managing director, KeyBanc Capital Markets Public Finance.

Differences between the Senate and House versions of the bill, which targeted cities and counties, could not be resolved.

Ketner is Baird's second hire in the higher education and nonprofit sectors in the last 30 days.

A injunction blocked the service cuts that would have balanced SEPTA's budget. 

The marquee project of many funded by next week's bond sale is the widening of the airport's Concourse D and the building of a Delta Sky Club lounge above it. 

Looking solely at internal factors, "the municipal market itself is still doing well, reasonably via the temporary drop in new issue supply amid a more lasting reduction in reinvestment flows," said Matt Fabian, a partner at Municipal Market Analytics.

The bill enjoys the support of local government and public utility groups.

BondLink's client issuers reached over $500 billion in bond sales while working with the municipal bond platform.

The bankruptcy court told bondholders and other creditors they should vote on the proposed reorganization by Oct. 29.

The state has teed up a $21.5 billion, six-year transportation budget as it deals with the fallout from federal workforce cuts, a credit downgrade, and a feud with the Trump administration.

Controller Chris Hollins warned the city lacks sufficient reserves to deal with weather-related disasters in the face of reduced federal financial assistance.

Moody's revised Chicago's outlook to stable from positive and affirmed the city's Baa3 issuer and general obligation unlimited tax ratings.

"Ozi's focus on building lasting relationships and his prudent risk management make him well-suited for this leadership role," said Charles Peck, Wells Fargo's head of municipal products.

The underwriting firm's hires will expand its real estate development finance group and Southeast operations.

"It doesn't take but one comment or one market-moving data point to cause ETFs to shift the market pretty considerably," said Ajay Thomas, head of public finance at FHN Financial.

The Westin Chicago Lombard's owner is returning to market with unrated bonds designed to cure payment defaults on debt issued to exit bankruptcy in 2018.

The Chicago Board of Education passed a balanced $10.26 billion budget that leaves the city government to pick up non-teacher pension contributions.