Investments

The utility responded that it is not eligible to declare bankruptcy.

"Investors were not disappointed," said John Kerschner, global head of securitized products and portfolio manager at Janus Henderson. "Inflation came in softer than expected, leading to a tepid bond market rally" and ensuring a rate cut at the upcoming Federal Open Market Committee meeting.

The northern California school district has been struggling for years and on several occasions abandoned plans to consolidate schools, which rating agencies say might have shored up finances.

Jamie Doffermyre  has worked in munis at Truist Securities, Citi and Merrill Lynch.

Mayor Brandon Johnson released to City Council a report from accounting firm Ernst & Young with recommendations for closing the city's structural budget gap.

Executing a successful bond issuance becomes simpler by combining long range planning, shorter-term timing and marshaling political support.

The city council president is concerned about state bond commission approval.

The upgrade is driven by realized and expected improvement in the state's financial metrics, the rating agency said.

"We're not going to be having huge reinvestment months over the next few months, not until the beginning of the year. So we need this flow [of deals] to keep up with demand, and we expect that to continue," said Jennifer Johnston, director of municipal bonds research at Franklin Templeton.

The approval of $650 million of revenue bonds comes in the wake of a recently filed petition seeking to subject the project to voter approval or delay.

With the advance refunding of tax-exempt munis still off the table, issuers are using existing market conditions to shed Build America Bonds and realize debt service savings through tender offers.

North Carolina's triple-A ratings were affirmed ahead of plans to sell up to $506 million in general obligation and limited obligation bonds.

The tax-exempt market is expected to be "biased higher" in the coming weeks and months as the expected heavy pace of issuance this month will not be as "oppressive" as feared, said Pat Luby, head of municipal strategy at CreditSights.

The city is gearing up to sell $252 million of general obligation bonds this year and $1.5 billion of revenue bonds in 2026 for a convention center project.

The Cleveland City Council will decide whether to approve a deal struck by Mayor Justin Bibb with Haslam Sports Group, owners of the NFL's Cleveland Browns.

92% of the holders or insurers of Puerto Rico Electric Power Authority bonds reportedly now oppose the Oversight Board's proposed restructuring deal.

"I've never seen this level of hand wringing at the issuer level," said Matt Boles, managing director at RBC Capital Markets.

Higher interest rates are keeping arbitrage on the playing field as issuers try to play by the rules and still come out ahead.

Brandon Johnson released his $16.6 billion 2026 budget last week. The budget calls for new revenue sources, but avoids property tax hikes.

Prior to Dimensional's approval, only Vanguard held a patent to the ETF-as-a-share-class structure, but the patent expired in 2023.