Investments

The board also says the bondholders' proposed deadlines for completing a restructuring are too tight.

Municipal bond issuance in the region was down 11.7% year-over-year in 2021, as new money, refunding, taxable and tax-exempt volume all slipped.

Investors yanked $1.154 billion out of municipal bond mutual funds in the latest week, Refinitiv Lipper reported.

Gov. Steve Sisolak plans to dedicate $500 million in federal funds to developing affordable housing.

Issuers in California sold more than $86 billion of municipal bonds in 2021.

Some public finance, racial justice, and congressional advocates say baby bonds are needed like never before to combat wealth inequality.

A judge has ordered the state to reconsider its rejection of a bid for a $9 billion P3 for new toll lanes, a move that could delay Gov. Larry Hogan’s priority project.

The Investment Company Institute on Wednesday reported $3.120 billion of outflows in the week ending Feb. 16, up from $993 million of outflows in the previous week.

The Oversight Board also approved a new fiscal plan for the Highways and Transportation Authority.

Moody's Investors Service said the upgrade reflected the university's robust, sustainable operating margins supported by consistent growth in tuition revenue.

Overall volume in the Southeast rose 1.8% last year even as taxable issuance plunged and refunding deals shriveled up.

Between the long holiday weekend and investors trying to absorb the Russia-Ukraine developments, it was a slow start to the week in the municipal market.

The proposal would offset all gas tax losses to the Highway Trust Fund but would still hasten its insolvency.

Municipal bond issuance in the Midwest reversed course last year, falling by 7.4% to $77.5 billion.

Municipals have been resilient throughout the pandemic — with the help of federal aid — keeping the Golden Age for public finance alive.

They say a Plan B that does not involve local legislative approval must be negotiated.

At issue is about $400 million the board would like Puerto Rico's government to retain.

The new-issue calendar for the holiday-shortened week is $4.98 billion, with $3.633 billion of negotiated deals and $1.347 billion of competitive loans.

The Puerto Rico Fiscal Agency and Financial Advisory Authority has requested pre-qualified investment banks to provide ideas and opportunities for refunding for savings.

Michigan State, supported by a better bond rating outlook, will join the small club of higher education institutions using a 100-year taxable bond structure.