Munis

The state is capping transfers of fossil fuel-related revenue to its general fund and will invest money that exceeds the cap through a Severance Tax Permanent Fund.

Municipal bond issuance in the Far West was down 2.3% in a first half that saw volume drop 17.1% nationally.

The region's issuers sold $30.3 billion of municipal bonds in the first half of 2023, 29.9% less than they did during the same period last year

The rating agency cited the Illinois county's accumulated reserves, as well as required pension contributions for the move.

Healthcare and transportation had the biggest contraction in issuance volume.

Total volume in the first half of the year was $180.882 billion in 3,853 deals, down 17.1% from the $218.230 billion in 5,444 over the same period in 2022, according to Refinitiv data.

The eight-state region accounted for $38.5 billion in muni bond sales in the first half of 2023, with the lion's share coming from Texas.

New York deals dominated the top ranks of regional issuers in the first half of 2023 even as supply sank around the Northeast and around the country.

Ongoing strikes by actors and writers pose a risk for next year's Oscars ceremony, which generates significant revenue that helps pay off the bonds. 

Recent laws extend the statute of limitations for child sexual abuse victims to file civil claims, impacting California school districts and counties.

The Illinois Attorney General maintains it is unclear whether the state was even defrauded by the Wall Street banks that are accused of rate-rigging by a whistleblower.

A federal initiative, focusing on states, and eventually, larger municipalities and authorities, that places a premium on enhancing transparency, is fundamental to improving the fiscal health of state and local governments.

The top two municipal bond insurers wrapped $15.571 billion in the first half of 2023, a 12% decrease from the $17.689 billion of deals done in the first half of 2022, according to Refinitiv data. Insurance was up in Q2.

Only the top bond counsel retained its slot, while four firms were knocked out of the top 10.

Bondholders granted some breathing room to the speculative-grade polypropylene recycling project along the Ohio River, now reported to have entered production.

The annual survey shows a rising number of university leaders who are eying P3s for a range of services and infrastructure.

Texas State Bankshares has agreed to buy Estrada Hinojosa & Co., one of the nation's biggest municipal underwriting and advisory firms.

The Tennessee Valley Authority has $19 billion of outstanding bonds and provides power to 10 million people.

The 50-year concession will rebuild the aging Calcasieu Bridge, and impose the first tolls on Interstate 10.

While it's still relatively early to tell how much — if at all — the muni market will be impacted, Kara South, portfolio manager at GW&K Investment Management, said downgrades of certain municipal bonds are likely to follow.