Investments

Fixed-income markets have had a tough 2022 but municipal bonds have been among the ones that have struggled the most.

Toll roads, registration fees and mileage-based fees are seen as the most sustainable options for replacing declining fuel tax revenue, but feasibility issues and political pressures complicate the way ahead.

The recommendation would build reserves toward a target of 16% of tax revenues in order to prevent drastic service cuts during a recession.

Elected officials in Republican-dominated states say S&P Global Ratings, by introducing ESG analysis, is politicizing the ratings process or even possibly acting illegally.

Given the volatility of risk assets is likely to remain high, and the focus on the flight to safety increases, all fixed-income assets could benefit as a result, including municipals, Barclays strategists say.

The authority will takes steps to raise $1 billion to address expected growth of expenses.

A teachers' request was rejected, but another ruling could force the board to release documents it chose to withhold.

The temporary injunction halts all work on Pennsylvania's $2.2 billion Major Bridges program.

The city of 55,000 is the first to be slapped with the most severe Tier IV designation of the state's Municipal Accountability Review Board oversight program.

The office of Rob Bonta filed its objection to the dismissal with a California appellate court in San Francisco May 19.

Refinitiv Lipper reported $2.712 billion of outflows, bringing the total outflows so far in 2022 to $65.8 billion, surpassing the last largest annual outflows of $63.5 billion during the Taper Tantrum in 2013.

Some worry that governments will use new infrastructure funds for generic, shovel-ready projects, or even tax cuts, instead of collaborative plans that could transform regions.

Panelists at the NFMA 2022 annual conference said they aren’t holding out for advance refunding to be reinstated anytime soon.

The bulk of the first tranches of the $15 billion of IIJA funds will likely be used to figure out where lead lines are located, so states and water systems can determine the scope of the problem.

Chicago's preliminary projected gap in the next budget, when Mayor Lori Lightfoot has vowed to reach structural balance, is down from an $867 million estimate.

Almost $25 million of bond funds provided for school technology and security enhancements to state school districts this year from the 2014 Act.

Illinois' spread penalties widened sharply from the state's last deal, but they landed in lockstep with current trading levels as the state saw healthy demand for its $1.6 billion GO issue.

Investors pulled $7.270 billion from muni bond mutual funds in the week ending May 11, per ICI data, while exchange-traded funds saw $1.756 billion of inflows, the fourth week of record inflows.

Issuer fears that ESG regulation will lead to disclosure trouble are overblown, the SEC’s muni office chief said Wednesday.

The main bond classes appear to clear the two-thirds majority needed for a court endorsement.