Investments

Included in the plan is a $545 million for a loan to the Puerto Rico Electric Power Authority and more money for the government's emergency reserve.

The bill would bar the state from doing business with companies that apply ESG to investment decisions and/or "boycott" favored industries.

The county began exploring a new facility eight years ago. Studies concluded the current facility was ill-equipped to deal with overcrowding, in poor physical condition and its design fell short of current standards.

"With rates volatility seemingly subsiding in the past few weeks, we could start to see outflows decrease and demand flow back into munis," according to AmeriVet Securities' Jason Wong.

The system's turnaround efforts include using proceeds of a proposed $710 million deal to sell hospice and home health assets to pay off direct placement debt.

Attorneys general from 16 states filed an amicus brief supporting Oakland and San Francisco's climate change lawsuit against oil companies.

The Oakland Athletics agreed to locate a baseball stadium on land behind the Tropicana resort on the Las Vegas Strip, according to a Bally's Corp statement.

A change by the IRS increases the Permanent School Fund's capacity by nearly 86%, allowing its triple-A school bond guarantee to be widely available again.

The Municipal Securities Rulemaking Board is seeking an MA candidate to replace Jill Jaworski as she leaves to become the chief financial officer of the City of Chicago.

Investors will be greeted Monday with a new-issue calendar estimated at $6.018 billion with a few bellwether, triple-A names coming from Loudoun County, Virginia, Frederick County, Maryland, and Columbia University with sizable deals.

The U.S. Supreme Court ruled against a journalist group seeking the release of a wide range of Puerto Rico Oversight Board information, which may have had an impact on the PREPA bankruptcy proceedings.

UBS will compensate a Texas school district, which was forced to resell bonds after the state attorney general rejected the investment bank's contract to purchase the debt.

Banks reduced their quarterly muni holdings during the first quarter at the fastest rate in 20 years, per Municipal Market Analytics.

"We are seeing strength in the securities, transportation and warehousing and office sectors," New York State Comptroller Thomas DiNapoli said "but retail, restaurants, construction and tourism continue to lag the national recovery."

A proposed IRS regulation boosts the amount of bonds that can be guaranteed by nearly 86% to about $218 billion.

The measure, which passed both legislative chambers in lopsided votes, would strip the governor of his sole ability to appoint turnpike board members.

Fitch said its upgrade of Kentucky's IDR "reflects material improvements to Kentucky's fiscal reserves since 2020 as a result of improved budgetary discipline.

"Our ratings reflect the progress the city has made over time on important issues like rebuilding reserves and improving the health of our pension fund," said Philadelphia Treasurer Jackie Dunn.

The Federal Reserve meeting May 2-3 will be closely watched for hints about what the FOMC's next move is. Join BNP Pariba U.S. Economist Yelena Shulyatyeva at 11 a.m. May 4 as she takes a look at the meeting and Chair Powell's press conference.

Outflows were seen again from municipal bond mutual funds, though they lessened this week as Refinitiv Lipper reported $101.664 million was pulled as of Wednesday.