Investments

Revenues for the first 11 months of the fiscal year outpaced the Oversight Board's 12-month expectations.

State Rep. Mark Batinick said he’s generally not a fan of red light cameras, but if they are going to be used, the fines should go to a source “that needs it and removes any motivation to simply use the cameras as a way to further tax the public.”

As the impact from the COVID-19 pandemic wanes, Dallas, Fort Worth and Austin are moving ahead with expansions of their convention centers.

Munis were firmer to end the week but underperformed U.S. Treasuries.

Several U.S.-based Puerto Rican diaspora groups call for full debate of the proposed status plebiscite and possible amendments to it.

As passengers return and revenues climb toward pre-pandemic norms, the Port Authority of New York and New Jersey has billions of capital construction on tap at the region's largest airports.

The bank in recent months shuttered its muni proprietary trading unit — which used the firm’s own cash to trade and invest — as part of a push to focus on providing more of its balance sheet to larger, institutional clients, according to people familiar with the matter.

Mayor Daniella Levine Cava said her proposed $9.3 billion fiscal 2022-2023 budget, with the tax cut, safeguards the county's fiscal stability and maintains critical services.

Investors pulled $698.782 million out of municipal bond mutual funds, per Refinitiv Lipper data, versus the $206.127 million of inflows the week prior. High-yield saw small inflows.

The ruling means the Puerto Rico government will have $400 million less in its coffers.

The new law kills tolling for the Major Bridge program but allows the P3 contract to remain in place.

Most public pension funds are fragile not distressed, according to Equable.

Federal Reserve Chair Jerome Powell recently sold more than $1 million of municipal bonds issued by various entities across the U.S. as tough new ethics rules took effect for central bank officials in the wake of a trading scandal last year.

The top two bond insurers — Assured Guaranty and Build America Mutual — accounted for $17.132 billion of deals in the first two quarters.

The governor refused board's order to suspend implementation and enforcement of the new law that the board says will hurt the island's labor market and revenues.

“We have to be able to build things better and faster in this country and you don’t have to be a Democrat or a Republican to agree with that."

The Investment Company Institute reported investors added $543 million to muni bond mutual funds in the week ending July 13 compared to the $1.061 billion of outflows in the previous week.

Bond premiums decrease when a city facing flood risk adopts measures that will reduce those risks, according to a recent study.

PROMESA and the oversight board helped, but there is no economic plan going forward and recent government actions will create problems for the island's future, analysts said.

Looking forward, a myriad of factors, including spiking fuel prices, fallout from the Russian invasion of Ukraine and the heat wave, “will facilitate recessionary(ish) economic outcomes by year end," noted an MMA report.