Investments

Despite severe budget stress, the city and state can take some meaningful actions, such as reviving the restaurant industry, expanding the role of P3s and rebuilding multi-purpose infrastructure, analysts say.

Tom Kozlik from Hilltop Securities explores the effects of Washington variables such as political risk on states and localities. He also discusses rating agencies and muni disclosure. Paul Burton hosts.

A stratified credit differentiation can be expected to linger for the foreseeable future until revenue streams in sales-tax and other project-backed bonds are more fully restored. Pension obligation bonds are back in California.

Florida’s attorneys cite flaws and errors in a special master’s report to support overturning its conclusions.

S&P cited the state's growing structural budget gap resulting from an oil price plunge.

Hard on the heels of last week's successful California sale, the municipal bond market will see some much needed supply head its way this week.

Phil Murphy is developing an emergency borrowing plan to combat revenue loss amid the coronavirus pandemic.

While many new-issues are still on the day-to-day calendar for next week, more are being slated to price on specific days, signaling that dealers and issuers are ready to again test the primary.

A complete disconnect between liquidity providers and seekers exposed the market’s inefficiencies: an asset class dominated by a limited investor base—retail investors—has grown increasingly concentrated.

In the wake of the COVID-19 pandemic, the city's budget shrinks by $6 billion.

Its series of responses provides a greater understanding of the city’s history, says NYU Wagner's Mitchell Moss.

The downgrade brings Fitch into alignment with Moody's and S&P, and the negative outlook leaves Illinois without any rating room above speculative grade.

The secondary market took a backseat to the primary Thursday with yields holding steady while Lipper reported $833 million of inflows, the first since February 26.

Reducing the number of workers building two nuclear reactors is a "mitigating action" to address the impact of the virus, the utility said in a market notice.

One of the nation’s largest transportation borrowers issued its first bond disclosure about the fiscal impacts from the COVID-19 pandemic.

State Sen. John Moorlach thinks cities and counties should have to obtain voter approval before issuing pension obligation bonds.

New York's mayor announced sharp cuts, a draw on reserves and a call for further assistance from Washington.

The ruling on the funding of municipal pensions and healthcare will pose a challenge to municipal government finances.

The city faces the loss of $348 million of revenue because of the economic shutdown, threatening the balanced budgets it needs to avoid state intervention.

The coronavirus has shaken the foundation of the municipal market and participants are looking cautiously to the Fed while attempting to adjust to the sustained volatility.