Investments

The one-year was cut up to eight basis points, depending on the scale.

John Fleming, a four-term congressman and former Trump administration official, took office as state treasurer. Jeff Landry of the GOP was sworn in as governor.

The Senate Budget Committee gave municipal bonds center stage Wednesday.

A 2023 state law gave legislative leaders four appointments to the six-member turnpike board as lawmakers sought to reform the agency in the wake of a controversial, bond-financed expansion project.

The governor proposed state funding for schools to slow the rise in property taxes. His Idaho Works program would provide $50 million toward $800 million in bonds to pay for water and transportation projects.

"It is not surprising that we have witnessed — and continue to witness — a great migration of Americans away from cities and states pursuing failed policies, with Florida serving as a refuge for freedom and sanity," Gov. Ron DeSantis said.

Lansing's Board of Water and Light is issuing $350 million of tax-exempt bonds in a deal that would fund a tender offer for $232.6 million of outstanding debt.

The Massachusetts Municipal Wholesale Electric Company deal, self-designated as green, will finance a soon-to-open 6.9 megawatt, 35-acre solar power project.

The board says the bondholders have no "unsecured claim" and only a lien on a small amount of money held by the authority when it was placed into bankruptcy.

The offered curve is "still deeply overbought" at all maturities outside of one year, which is "a signal for issuers and sellers to become aggressive," said Matt Fabian, a partner at Municipal Market Analytics.

Republicans are threatening to try to overturn the rule through the Congressional Review Act.

Infrastructure Czar Mitch Landrieu is out of that position to join Joe Biden's campaign staff.

The negative outlook on the Phoenix-based university's Ba1 rating is due in part to its battle with federal regulators, including the U.S. Department of Education, which it sued in 2021.

The Governmental Accounting Standards Board's new disclosure requirements focus on concentrations and constraints and governments will have to comply by June 15, 2024.

The agency plans to broaden its current market share and expand into new sectors.

Red state-blue state battles have complicated ESG issuance even as the muni market strives to make it an accepted asset class. The Bond Buyer's Lynne Funk, Karen Pierog, Chip Barnett and Keeley Webster discuss how it's playing out nationally and regionally.

Since November, 10-year munis have fallen 130 basis points, according to Refinitiv MMD. This has pushed ratios to near-record lows, said Jason Wong, vice president of municipals at AmeriVet Securities.

The Alameda Corridor Transportation Authority announced a tender offer as part of a restructuring plan that could culminate in $1.36 billion of bonds.

House Republicans want 2024 appropriations offset with cuts from "COVID-era slush funds."

The state of Illinois is preparing to issue $600 million in new Build Illinois junior sales tax revenue bonds next week.