Public finance

At noon Thursday, muni yields had been bumped up to 12 basis points, depending on the curve, while UST yields rallied, with yields falling 13 basis points on the short-end.

Alpine School District, which will be split into three systems, wants to sell up to $238 million of lease revenue bonds to finance school construction.

Transportation Secretary Sean Duffy said there are about 3,200 announced projects that are awaiting formal grant funding agreements, 950 of which were announced right before President Donald Trump took office.

Parity Plus gives muni issuers increased transparency and resources to determine market demand prior to a bond sale.

Details surrounding the tariffs — which could be anything from reciprocal tariffs to finally implementing delayed tariffs on Canada and Mexico and on pharmaceuticals — have remained unclear, but uncertainty has plagued the market for weeks.

Moody's Ratings upgraded Nebraska's issuer rating to Aaa from Aa1 on Monday. It also upgraded the state's $24 million certificates of participation to Aa1 from Aa2.

Fallout from the Legacy Cares deal includes bondholder lawsuits against the underwriter and bond counsel, payment defaults, a Chapter 11 bankruptcy, and now fraud charges from the SEC and DOJ.

Washington Gov. Bob Ferguson told lawmakers approving an unsustainable budget would put bond ratings at risk.

The deal will raise money for general purposes as the Ivy League school faces cuts to government grants as the Trump administration attacks higher education.

Lawmakers have proposed record high spending but left key needs unfunded, the Citizens Budget Commission warns as the state misses its April 1 deadline.