Investments

The city's newest budget forecast says revenues in the current fiscal year will fall short of projections by $86 million.

Lumesis' president, COO and co-founder Tim Stevens talks about how AI complements the company’s pricing and scales software to predict the shape of a deal-specific municipal yield curve based on the structural and credit-characteristics and to use that predicted shape to fill-in portions of a yield curve that cannot be built from traditional means. Lynne Funk hosts. (35 minutes).

The Puerto Rico Oversight Board has previously said there would be significant spending cuts in the the coming fiscal year.

ICI reports a third week of $3-plus billion of inflows. Couponing is becoming as much a factor in inquiry as credit and issuers move to lower coupons in both competitive and negotiated deals.

Joliet will finance new infrastructure with a mix of revenue borrowing and state and federal loans in an agreement that will bring Chicago $30 million annually.

Police agreed to defer raises in exchange for $70 million in overtime for three years and no layoffs.

The $136 million refunding is also backed by the state's appropriation pledge; a political dispute over how to handle unclaimed property was resolved last year.

Rich ratios focus buyers' eyes on a primary market that simply doesn't have enough supply to keep up with demand.

Sixteen investment funds are making an argument on Employees Retirement System bonds that could be widened to other Puerto Rico bonds.

The Westin Lombard Yorktown Center in Chicago's suburbs reopened over the summer, but isn't drawing enough business to cover a Jan. 1 debt service payment.

High-yield continues to be sought after as high-grade paper is yielding about 0.70% in 10 years and 1.40% or lower in 30 years and credit spreads continue to tighten in nearly every sector. Ratios are near 20-year record lows.

Acacia and Estrada grew substantially.

Michelle Getz was named a partner of the Equitable Facilities Fund.

McCall Parkhurst & Horton and Norton Rose Fulbright moved up in 2020 to second and third.

The coronavirus emergency spending bill enacted by Congress in December included a provision enhancing the Low-Income Housing Tax Credit so it’s a true 4%.

This year's pension debt volume could match that of 2020, which was the highest since the financial crisis year of 2008, industry leaders say.

The board aims to improve transportation resources on the island.

It is most certainly an issuers' market as rates are low, credit spreads continue to tighten, money pours into municipal bond mutual funds at record levels and a net negative supply of more than $11 billion.

Issuance dropped 26.7% in January, tax-exempt issuance fell 32.6% while refundings and taxables saw smaller declines. Part of the drops were due to the typical nature of lighter January issuance but also issuer anticipation of potential federal aid to combat the pandemic.

The junk-rated district that is managing the COVID-19 pandemic's fiscal impact with the help of federal relief trimmed spread penalties as investors were drawn to the extra yield offered for the junk paper.