Investments

President Biden's budget would allow large transit agencies to divert formula capital grants to operations in 2024, a move that one transit official said may hurt smaller agencies.

The Texas Education Agency, which initially sought the takeover in 2019, will appoint managers to run the state's largest public school system.

OTA has come under increased scrutiny as it embarks on a $5 billion, bond-financed project that has been challenged in court.

The collapse of Silicon Valley Bank and Signature Bank won't impact the Fed or the market enough to cause rates to drop and refunding volume to significantly increase, according to muni experts.

Finding matching dollars, politics, and competition turns up the heat on state officials.

The ratings agency says enplanement levels is key to the action.

Holders of COFINA subordinate bonds are seeking compensation from the U.S. government, claiming their property was taken without just compensation.

Thirty brokerage firms overcharged for the Santa Rosa bridge bonds after relying on data vendors who provided incorrect factors to determine the price.

So far 12 states have enacted ESG statutes with 67 pending statues in 28 states, according to the Morgan Lewis law firm. Florida's anti-ESG bill goes farthest.

"The derailment has caused substantial damage to the regional economy of the state of Ohio, its citizens, and its businesses," the lawsuit filed by Ohio Attorney General Dave Yost charges.

"The main question for investors recently has been: will we see bank selling of municipals that exerts pressure on the market, and what kind of market effects could occur," Barclays strategists said.

The fall of Silicon Valley Bank is forcing regulators to take a closer look at asset structure and the integrity of depository institutions, which will likely include the issuers of securities.

The MSRB intends to file proposed amendments to Rule G-12 on uniform practice with the SEC and move forward with draft amendments to Rule G-32 on primary offering disclosures.

"The muni market is no different than others, where fear and greed drive the trends," said Peter Delahunt, StoneX's managing director.

While other issuers have suffered ratings hits or had them withdrawn, California's ratings have not been impacted by its now perennially late ACFR.

A new report lays out motor fuel, sales, and miles-traveled tax options to fix Michigan roads, saying the state is falling almost $4 billion behind every year.

The legislation, which passed the House last week, comes as the state nears a key 2026 decarbonization deadline.

Yakym takes over from the late Jackie Walorski, who passed away unexpectedly last August.

The transportation revenue bond sale comes as legislative work on a new budget package is ramping up with the GOP expected to craft its own operating and capital spending plans.

Even more uncertainty has been introduced into the municipal bond market as the Federal Reserve may have to tweak its monetary policy plans as the situation unfolds.