Investments

The ruling marks the first major defeat for OTA in lawsuits seeking to derail its plan for a $5 billion, bond-financed extension project.

The mediation team asked the Oversight Board to submit delayed data and analyses by end of business on Friday.

Munis saw the best performance in November in decades, with the asset class ending in the positive by 4.68%. The MSRB reported that trading volume reached another record in November, with 1.29 million municipal trades.

Atlanta's first foray into ESG bonds was a resounding success, according to local officials who said investors welcomed the city's inaugural social bonds.

Incoming House Democratic caucus chair Pete Aguilar was a California mayor and served on the League of California Cities, bringing the kind of local experience that's considered helpful to muni market interests.

"I think it's undemocratic of major asset managers to use their power to influence societal outcomes," said Florida CFO Jimmy Patronis.

The government has reached a settlement with the estate of Jeffrey Epstein.

The current contract with the operator of the Puerto Rico Electric Power Authority's transmission and distribution system has been temporarily extended until a debt deal gets done.

Powell said smaller interest rate increases are likely ahead — and could start as early as next month.

The authority said it expects production problems and higher costs in the near future.

The private sector remains confused about buying American, potentially slowing how it can react to the needs of states and localities eager to get building.

Total November volume stood at $19.712 billion, the lightest of any month year-to-date, in 527 versus $37.073 billion in 1,055 issues a year earlier, according to Refinitiv data.

Tax-exempt munis have now regained late September levels, and November's rally has eclipsed October's selloff, MMA notes in a weekly report.

The downgrades for Alaska's largest city come less than two months after the mayor set returning the city's ratings to AAA as a goal in his fiscal 2023 budget.

Former state transportation official Shailen Bhatt, if confirmed by the full Senate, would play a key role in the rollout of highway funds in the bipartisan infrastructure law.

The Bloomberg Municipal Index is at positive 4.06% as of Friday. Bloomberg indices show high-yield returning 4.17%, taxable munis returning 4.38% in November while the Impact Index is at positive 4.66%.

In the letter addressed to House congressional leaders, members urged leadership to expand the affordable housing credit and lower the PAB requirement.

At stake was the treatment of nearly $1 billion of Puerto Rico bonds and notes.

The developer is seeking as much as $230 million of bonds issued by a community facilities district to pay for cleaning up a landfill and improving infrastructure for the $2.1 billion multi-use project.

Markets took the news that it will soon be appropriate to increase the Fed funds target rate at a slower pace as good news.