Investments

Houston is one of the largest U.S. cities to set up a trust to help fund non-pension retiree benefits such as healthcare.

ASA has added a new vice president and head of public affairs, months after they added muni advocacy veteran Jessica Giroux to its roster.

The report provides the first step in assessing what level of benefit enhancement is needed before further state action is taken on Tier 2 pension benefits.

Assured Guaranty's attorney argued the judge's procedure to estimate the bondholders' claim should assume the Oversight Board would not exist.

Municipals have continued outperforming, "building on the trend that started in late May," Barclays strategists Mikhail Foux, Clare Pickering and Mayur Patel said.

The Massachusetts Bay Transportation Authority's budget is focused on safety improvements after federal regulators pointed out deficiences.

The Securing Growth and Robust Leadership in American Aviation Act would reauthorize the Federal Aviation Administration before its funding expires in September.

The bill, which was introduced Tuesday, is cosponsored by Sens. Catherine Cortez Masto, D-Nev. and Bill Cassidy, R-La.

City finance officials report that its recent $1.56 billion general obligation bond sale was more than six times oversubcribed.

Molloy will be leaving the banking giant for the nonprofit sector. Dan Tomson and Paul Creedon, co-heads of public finance, will be taking over his responsibilities.

The bill moved through votes in the Republican-controlled state legislature and onto the desk of a supportive Gov. Kay Ivey in just under a month.

"How fund flows end up shaping up this week is going to be very meaningful for how we start the summer," said Tom Kozlik, managing director and head of public policy and municipal strategy at HilltopSecurities.

The National Association of Bond Lawyers sends letter to non-responsive federal agency

Additionally, state Treasurer Dale Folwell endorsed an anti-ESG bill in the state legislature.

Some Democrats objected to the lack of hearing on the bill, which cements Aviation Trust Fund taxes for the next five years.

The Federal Open Market Committee is scheduled to meet next week with many experts expecting to see a pause in federal fund rate hikes after ten straight upticks.

Weekday ridership on the farebox-dependent regional transit system is below 40% of pre-pandemic levels. Some lawmakers are pushing a state transit rescue package.

Judge Laura Taylor Swain seemed sympathetic to putting a time limit on the bondholders' claim.

The Investment Company Institute reported investors pulled another $374 million out of municipal bond mutual funds in the week ending May 31, after $671 million of outflows the previous week

The City-County Council signed off on up to $625 million of borrowing for a city-owned convention center hotel after a developer-financed plan fell through.