Investments

The Contra Costa County Office of Education gave West Contra Costa Unified School District until July 17 to pass a budget, or have the county office step in.

"With a nonexistent new-issue calendar and heavy dealer balance sheets, we expect the muni market to get a bit 'grabby' over the next few weeks," AllianceBernstein strategists said.

The rating agency's new local government rating criteria led to the higher rating.

Another round of grants authorized in the 2021 Infrastructure Investment and Jobs Act is going out to 129 airports in 40 states.

The system, along with UT Southwestern Medical Center, plan to build a $5 billion pediatric health campus in Dallas.

Infrastructure practice is a "strategic priority" for the firm, it said in announcing the hire of Elena Millerman.

The $82.5 billion fiscal 2025 budget includes the final tranche of Rebuilding Michigan Plan bonds.

The privately owned, high-speed rail system in the U.S. recently refinanced and broke ground on a new line in the west.

"While valuations are still historically tight, the extra demand through the summer should help support the muni market in the coming weeks," Birch Creek strategists said.

The board's executive director said he is unsure how much longer the PREPA bankruptcy proceedings will take.

The request is part of the White House's larger funding request from Congress to cover disaster needs from tornados to wildfires.

To meet the ambitious goals of the Environmental Protection Agency's Greenhouse Gas Reduction Fund, innovative financing models can be adapted from established municipal finance systems.

Gov. Kathy Hochul's "pause" on congestion pricing puts a $16.5 billion hole in the Metropolitan Transportation Authority's capital plan.

In a week that culminated in headline-grabbing events — a presidential debate, several Supreme Court decisions, more macroeconomic data to add to Fed policy expectations — municipals closed on a quiet note and in the black for June.

Two universities at opposite ends of the state received Moody's downgrades this week.

In the first half of 2024, winding-down federal aid, a resurgence of Build America Bond refundings and election uncertainty have contributed to the surge in issuance, said James Welch, a portfolio manager at Principal Asset Management.

The Colorado Educational and Cultural Facilities Authority formed a non-profit subsidiary to facilitate the financing, ownership, and operation of the historic hotel.

In a separate development, the board asked an appeals court to reconsider its PREPA decision.

Municipal bond mutual funds saw outflows as investors pulled $498 million from funds after $16 million of inflows the week prior, according to LSEG Lipper. High-yield funds still saw inflows.

Transportation Secretary Pete Buttigieg told lawmakers federal money is being dispensed roughly on schedule, though efforts to streamline certain processes are underway.