Munis

The Cleveland-based university's 100-year taxable bond landed at a 5.4% interest rate.

The referendum passed Tuesday by a 70% to 30% margin an an election with miniscule turnout.

CPS' federal windfall aided the district's fiscal progress with plans to use $700 million in the next budget before exhausting the pot in fiscal 2025.

Fitch Ratings revised the outlook on Sacramento City Unified School District's BBB-plus issuer default rating to stable from negative.

Issuers need to be careful with bonds specifically marketed as green, said the head of Office of Municipal Securities.

The COVID-19 pandemic is largely in the rearview mirror for toll roads in Texas, where traffic and revenue are climbing and population growth is fueling demand.

Proceeds from the sale of the $406 million of general obligation bonds will fund infrastructure projects including roads, parks and recreational facilities.

June redemptions will be the highest of the year at $50.6 billion. New-issue supply — 30-day visible is currently at $15.5 billion — is unlikely to keep up.

Total May volume was $31.167 billion in 750 deals versus $35.358 billion in 1,295 issues a year earlier. In a continuing trend, new-money issuance was up 14.2% in May year-over-year.

The rapid swing to lower yields over the past week has led to a sunnier outlook for the summer reinvestment season, but uncertainties on the economic front, rate volatility, and supply questions hang overhead.

Investors will be greeted Tuesday with a decrease in supply with the new-issue calendar estimated at $2.691 billion in $1.786 billion of negotiated deals and $904.9 million of competitive loans.

Rising home values are putting the spotlight on property taxes in Texas, where state lawmakers are eying tax relief options even as previously approved measures slow the growth in tax bills.

Technology enables us to be better, smarter, and faster and allows its adopters to focus on more substantive tasks, unearth insightful information and manage human relationships.  

The temporary injunction halts all work on Pennsylvania's $2.2 billion Major Bridges program.

The office of Rob Bonta filed its objection to the dismissal with a California appellate court in San Francisco May 19.

Some worry that governments will use new infrastructure funds for generic, shovel-ready projects, or even tax cuts, instead of collaborative plans that could transform regions.

Panelists at the NFMA 2022 annual conference said they aren’t holding out for advance refunding to be reinstated anytime soon.

Almost $25 million of bond funds provided for school technology and security enhancements to state school districts this year from the 2014 Act.

Deep-in-the-red municipal returns are not helping assuage investor concerns, creating a negative feedback loop that has yet to see a pause.

Assuming the taxable and tax-exempt rates are highly correlated (and in fact they are), we can show that the expected cost of a fairly priced callable bond exceeds that of an optionless bond.