Investments

Part of the problem may be the lack of a muni finance tax expert in Treasury, a position that has been vacant since 2019.

Iowa Wesleyan University's pitch to the state government for federal COVID-19 relief funds fell short, and the school plans to close its doors.

Outflows continued, with the Investment Company Institute reporting investors pulled $693 million from mutual funds in the week ending March 22, after $684 million of outflows the previous week.

The amendments seek to align the Rules with the Securities and Exchange Commission's recent approval of T+1 clearing across bond markets.

The state's reliance on tourism makes airports essential to its economy, Fitch said.

The bill would create a state investment fund and establish a debt reduction program to be administered by the Division of Bond Finance.

Massive transit projects have funding momentum, and traditional road and bridge projects are advancing as well despite political opposition and some shaky funding.

The measure, which passed with slim vote margins in the Republican-controlled legislature, could drive banks out of the state's market, according to the governor.

The publicly offered tax-exempt debt product is new for the firm and the collateralized debt obligation structure may be one of the first for the market since the 2008 financial crisis.

Munis are directionally trading with USTs but underperforming in days where USTs rally and outperforming in days where USTs sell-off, said Greg Gizzi, head of U.S. fixed income and head of municipal bonds at Macquarie Asset Management.

The governor asked the high court to review a ruling that gave the board broad power to overturn laws it deems inconsistent with the island's fiscal health.

Federal funds bankrolling development of Vermont's broadband infrastructure will run dry next year, according to an investigation by the state auditor's office.

The Investing in Our Communities Act, introduced by House members Kustoff, R-Tenn., and Ruppersberger, D-Md., would reinstate tax-exempt advance refunding.

The administration is touting the Justice40 Initiative and other programs to spur equity efforts.

The bill creates an ESG Oversight Committee to compile a list of financial services providers determined to be "discriminating" against the fossil fuel, firearm, or ammunition industries.

The state, through its established conduit issuer, is eyeing new financing products to promote climate goals as its pursues $1.2 billion of federal funds.

Cities want to put federal dollars to work on their infrastructure, a process that can be daunting.

Ambiguous language in the legislation is one of a handful of reasons why issuers have not taken advantage of the new financing tool.

Analysts say the PROMESA bankruptcy law is more creditor friendly than how the judge in the PREPA case interprets it.