Public finance

Tariff threats, international conflicts and inflation concerns are working "in tandem on the municipal side to slow down some of the aggressive interest that was there in the beginning of summer," Sage Advisory's Jeff Timlin said.

Private Milliken University in Illinois is sweetening its upcoming bond deal by adding a student apartment complex to increase investor protections. 

The effects of the 21st Century ROAD to Housing Act are already being sized up as the impetus for maximizing their intentions may fall on local public finance and regulatory policies.

The Texas city's $943.9 million airport revenue bond issue will provide long-term financing for an expansion plan and refund some outstanding debt.

Geopolitical uncertainty will keep being a challenge for risk assets, according to James Pruskowski, managing director at Hennion & Walsh. But the muni market will still benefit from strong supply and demand.

While the surface transportation reauthorization lumbers through Congress and IIJA funds starting to sunset, some states are tapping pooled bond funds and relying on independent financing authorities.

Action on a surface transportation bill, however, is likely to be delayed until September.

Issuance is an estimated $10.567 billion this week, with $8.948 billion of negotiated deals on tap and $1.62 billion of competitives, according to LSEG.

The rating agency upgraded $1.2 billion of airport revenue bonds.

Muni market professionals think state-specific crypto initiatives could distract from needed digital improvements to the market.

The deal funds the municipalization of a private water utility that had been controlled by investor-owned utility Eversource.

USTs ended the week looking strong after a positive CPI report, MMA's Kevin McGuigan said, while munis finally seem to have corrected from their "extremely rich" ratios.

A battle over implementation of Chicago's budget became public Thursday after Mayor Brandon Johnson's team held a midyear hearing.

The long-running financial problems of the Donald W. Wyatt Correctional Facility in Central Falls, Rhode Island, resulted in a Chapter 11 filing this month.

Proceeds from both will be used for building renovation or construction.

States continue tinkering with finding the right mix of property tax, sales tax, and income taxes leveled on the affluent.

Despite some struggling projects, student housing P3 deals that hit the primary market this year have enjoyed oversubscribed demand.

Munis finally corrected Thursday after UST yields prompted investors to reevaluate the "overstretched" asset class, NewSquare Capital's Kim Olsan said.

The default comes as charter school bonds have been the municipal sector with the most defaults this year.

The meeting, set for July 22 and July 23, will be the board's final quarterly meeting of fiscal year 2026.