Investments

Household and U.S. bank ownership of individual bonds fell and the total face amount of munis outstanding was down 0.6% quarter-over-quarter and down 1.4% year-over-year, Fed data shows.

The announcement came as a global settlement agreement that resolves Preston Hollow Capital LLC's litigation against Miller and Nuveen was disclosed.

New Jersey received a Moody's Investors Service upgrade to A1, citing the state's approach to pension funding and debt defeasement.

At issue is the completion of a WAPA financial settlement with its fuel supplier, Vitol, to which it owes about $278 million.

For the week ending Wednesday, outflows lessened as Refinitiv Lipper reported $91.713 million was pulled from municipal bond mutual funds after $194.097 million of outflows the week prior.

Eleven states from California to South Dakota will receive funding for 83 projects to improve water delivery systems, the Biden administration announced.

The examination includes specific questions related to compliance with Federal tax requirements.

The Commission has settled with Roberto Mejill-Tellado for acting as an unregistered broker in the scheme that defrauded the city of Mayaguez, Puerto Rico.

Comptroller Brad Lander said the pension funds adopted a measurable and transparent plan that could serve as a model for other investors.

The deal is expected to close in the third quarter of 2023.

Detroit's return to investment grade is within reach if it stays on track after Moody's put a positive outlook on the Ba1 rating following an upgrade from Ba2.

Outflows continued with the Investment Company Institute reporting investors pulled $128 million from mutual funds in the week ending March 29, after $693 million of outflows the previous week.

California filed a disclosure notice March 30 saying it would cover lease revenue bond payments for a damaged Central Valley agriculture lab.

In fiscal 2021, 27,004 jobs were created in Florida alone through space agency spending, according to the space agency's calculations.

Chicago voters picked Brandon Johnson — a Cook County Board Commissioner, former teacher, and Chicago Teachers' Union organizer — as their next mayor.

Outside of economic data, "a light forward calendar is driving strong demand in the secondary market and with new issues, with some deals being significantly oversubscribed," SWBC's Roberto Roffo said.

Moody's Investors Service downgraded Providence St. Joseph Health a notch to A2, following similar moves by S&P Global Ratings and Fitch Ratings.

The acquisition closed Friday and all nine employees, who provide municipal and healthcare advisory services and treasury consulting services, joined PFM.

Economic activity index is up month-to-month but down year-over-year.

Moody's GO and issuer default rating upgrade to A3 from Baa1 follows a similar action taken by Fitch in November.