Investments

Although the strike shouldn't "have significant adverse revenue consequences for Michigan or its local governments, it nevertheless highlights longer-term challenges for a state that is still disproportionately exposed to the domestic auto and auto parts industries," Moody's says.

Fund flows "should be moving along a more positive trajectory, but they have yet to do so with munis unable to break free of the Treasury market's tight grip," Oppenheimer's Jeff Lipton said.

Moody's also affirmed the A3 rating on the MTA's $20.6 billion of transportation revenue bonds.

As the Disaster Relief Fund runs dry, FEMA asks Congress for appropriation renewal.

The state managed to grow revenues above forecast for the first two months of the fiscal year despite the delayed tax filing deadline.

School districts and local governments may only hold bond elections once a year now, in November. They also face new state-imposed revenue limits.

With a light new-issue calendar ahead of the FOMC meeting, "secondary flows may benefit from greater attention," said Kim Olsan, senior vice president at FHN Financial.

Gov. Gavin Newsom, speaking at Climate Week NYC, said he'll sign bills requiring companies to increase reporting on greenhouse emissions and climate risks.

The GOP stopgap funding measure may only kick the can down the road for a month, but how this bill passes will have implications for how Congress feels about additional spending measures.

A constitutional amendment on the Nov. 7 ballot would deposit $1 billion in a Texas Water Fund with at least 25% earmarked to increase the drought-prone state's water supply.

The governor said the budget would needlessly wipe out a rainy-day fund.

"We believe investors should take advantage of the current high rates environment: investors should pick and choose bonds selectively in the coming weeks in anticipation of this tightening cycle's end after November," BofA strategists said.

"Last year's successful social bond issuance has proven that there is growing investor demand for socially conscious investments and I am thrilled that we are able to offer this opportunity again," said City Comptroller Lander said.

The stalled appropriations battle is alarming counties and cities dependent of federal funding

Loop Capital Markets CEO Jim Reynolds, Jr. said he would gladly pay a bit more for a muni bond that tackled gang violence in Chicago during a debate on ESG factors among market veterans at The Bond Buyer's infrastructure conference this week.

The rating is the first so far released for a controversial debt sale that will begin financing a $5 billion, 15-year toll road expansion project.

The U.S. Court of Appeals for the Eleventh Circuit denied Treasury's motion for en banc review following its January panel decision that rendered the American Rescue Plan Act's Offset Provision "unconstitutionally unascertainable."

The city cites stronger tax collections, continued economic growth and stability, and revenue sharing increases provided in the state budget.

Refinitiv Lipper reported $116.737 million was pulled from municipal bond mutual funds for the week ending Wednesday after $798.474 million of outflows from the funds the previous week.

How to fill the gap left by ridership declines is the question facing transit agencies, said panelists at The Bond Buyer's Infrastructure Conference.