Investments

The long-awaited court decision sided with Idaho landowners by narrowing the EPA's definition of waters of the United States.

Changes affecting the turnpike's board, which take effect Nov. 1, come as it awaits a court ruling on issuing initial bonds for a $5 billion project.

The $350 billion of flexible relief funding sent directly to cities, towns and states under the American Rescue Plan Act will remain untouched under the new debt deal.

The U.S. economy is "too resilient and this will force the Fed to not only deliver more tightening but also to keep rates higher for much longer," OANDA's Edward Moya said. NYC and Connecticut GOs on tap.

The Equity in Infrastructure Project names Everett Lott as vice chair

Now that economic activity has largely resumed, investors and analysts are taking another look at longer-term issues, and the volatile stock market performance since the pandemic is raising concerns.

The New Mexico treasurer recently sent an alert to local governments warning that some are bypassing state banking rules on public deposits.

A top advisor to Brandon Johnson said his administration is still waiting on the advice of incoming CFO Jill Jaworski and budget director Annette Guzman.

Refinitiv Lipper reported $847.068 million of outflows from municipal bond mutual funds, $420.675 million of which was high-yield.

California senators approved a school bond measure that supporters say could help reduce the state's $117 billion in school construction needs.

A tender offer and a debt service shortfall related to bonds issued in the wake of Winter Storm Uri popped up this month as its financial impact lingers.

Nathan Flynn will focus on coverage of Midwest and Southeast borrowers and provide an assist on structuring and project financing more broadly, Siebert said.

A downgrade would reverberate throughout the municipal bond market.

The $2.6 billion infrastructure budget stands out as the state's largest ever; bond packages stalled in the previous two years amid political divisions.

The Investment Company Institute reported investors pulled another $137 million out of municipal bond mutual funds in the week ending May 17, after $290 million of outflows the previous week.

New York City is keeping a wary eye on Congress as it considers whether to pause a refunding deal set for next week.

The Oklahoma Turnpike Authority asked the court to approve $500 million of bonds to jumpstart funding for a $5 billion extension project.

Weakening revenues should be a red flag for states, particularly those planning tax cuts, said Lucy Dadayan of the Urban Institute's Tax Policy Center.

"While everyone is watching the federal government experience a debt crisis and come close to defaulting on our nation's debt for the first time in history, Miami's credit rating was just recently upgraded," said Mayor Francis Suarez.

"It's good news/bad news for fixed-income markets," said Nuveen strategists Anders S. Persson and Daniel J. Close.