Investments

State and local issuers should expect cuts in transit and rail projects over the short term, transportation advocates said.

The incoming Bond Buyer Hall of Famer has paired creative banking with relentless execution and client focus across four decades — from pioneering a new muni sector to transforming Jefferies into a market leader.

S&P upgraded Illinois' general obligation bonds to A from A-minus, citing a track record of capable fiscal management. This follows a Moody's upgrade a week earlier.

Rating analysts are tracking the potential departure of the DuPage Water Commission, the largest wholesale customer of Chicago's water enterprise.

It's the call feature.

The muni selloff is likely to continue if UST yields stay elevated, according to SWBC's Chris Brigati.

"We are going to continue to grow strategically where we feel we can add value to our clients," said Beth Coolidge, Oppenheimer's head of public finance.

Port KC will issue up to $1.49 billion of bonds as a vehicle to offer tax incentives to redevelop Country Club Plaza, a historic open-air shopping district.

Issuance was $59.57 billion in 873 deals, up 14.5% year-over-year from $52.006 billion across 880 transactions.

For the 25th year, The Bond Buyer editorial board will identify and recognize the year's most outstanding municipal finance transactions. The deadline for submissions has been extended to a final deadline of Friday, October 9.

The Trump administration court filing will give PREPA bondholders an incentive to hold out for a better offer, according to one observer.

The airspace surrounding Washington D.C. is expected to absorb more flights in the near future as the Washington Manassas Airport in Virginia has cleared an environmental assessment by the FAA.

"The muni market selloff is primarily a result of Treasury movement, but the orderliness of it in terms of not getting any more volatility in munis than Treasuries is a direct result of people's ability to withstand those moves," said Jeff Timlin, managing partner and head of municipal bond investing at Sage Advisory.

The incoming Bond Buyer Hall of Famer says titles and board seats are "empty calories" unless they improve the municipal market, a philosophy that has shaped his work in regulation, banking, and mentorship.

A successful court challenge yanked a measure from the Nov. 3 ballot that sought guardrails and accountability for the state's costly universal voucher program.

This week marks the end of the "summer redemption season," said Pat Luby, head of municipal strategy at CreditSights, and the ensuing reduction in redemptions will lead to an increase in net supply.

Issuers will generally call bonds when doing so yields an economic benefit, most commonly by reducing future debt-service costs through refunding, said Kevin McGuigan.

The effects of higher yields on Treasury bonds are cascading down into tax revenue levels that could raise the stakes for state and local governments facing higher borrowing costs.

State Sen. Scott Wiener reintroduced the bond measure, intended to counteract federal funding cuts to scientific research.

This week, issuance is estimated at $12.821 billion, with $9.301 billion of negotiated deals on tap and $3.519 billion of competitives, according to LSEG.