Investments

The world's busiest airport by passenger count is issuing bonds to support its sizable capital program.

News of negotiations with Iran, a strong backdrop from USTs and meaningful tax-equivalent yields are helping the market digest the "deal deluge," according to NewSquare Capital's Kim Olsan.

Justin Schwartz, who managed Vanguard's municipal exchange traded and money market funds, will take over as head of municipals.

The White House's involvement in expanding Dulles International Airport lead to plans for a $22.5 billion bond sale, while questions remain about steep passenger fees that may be required.

The Texas city's general obligation rating was lifted to Aa2 with a stable outlook from Aa3 based on "meaningful" moves taken in its fiscal 2027 budget.

Democratic senators have asked Commodity Futures Trading Commission to rein in prediction "wagers."

Indiana lawmakers are considering two more far-reaching property tax reforms before Senate Enrolled Act 1 has even been fully phased in.

Budget Director Annette Guzman left her role Monday, Chicago Mayor Brandon Johnson said, in the latest high-profile finance departure from his administration.

Muni yields are still higher than they were in June, said Patrick Luby of CreditSights, so investors were happy to put redemption money to work

Two hospital deals were among the first to price Monday, including $1.317 billion for Henry Ford Health and $1.118 billion of bonds for Intermountain Health.

But a toll-backed public-private partnership remains possible for the more than $1 billion project.

The city moved to a less-restrictive Stage 2 drought status for water use in another sign after recent rain that a water supply emergency is no longer imminent.

If the referendum passes, it is expected to have major impacts on the finances of local governments in Florida.

The Texas city will offer $540.55 million of senior lien and $122.45 million of junior lien special tax revenue bonds to investors this week.

Market Intelligence analyst Jeff Lipton says overreliance on financial ratios can obscure forward-looking credit risks, making qualitative factors such as political willingness, management strategy, cyber-threat preparedness, legal security and economic and policy change essential to muni decision-making.

Positive developments in Iran have munis looking stronger, said Tim Iltz of H.J. Sims, but if the headlines turn negative, it could hurt markets in a week with high volume.

"The upgrade also reflects the city's continued financial strength that has extended for decades and been preserved even during recessionary periods via prudent budget management," analysts said. 

Brightline Florida now has until Friday to make the payments, negotiate another extension, or restructure its $5.5 billion of debt.

Two muni veterans are joining PNC's public finance team.

Fitch Ratings raised the outlook on two series of sales tax revenue bonds structured as a TIFIA loan.