Public finance

Illinois' economy will underperform the Midwest and the U.S. over the next year, due largely to the effects of federal policies, according to an economic forecast.

The downgrade reflects ongoing underperformance in ridership and revenues relative to Kroll's expectations.

New York City is in a challenging and defining time, and Mark Levine, a former City Council member and Manhattan borough president who will deliver a keynote address at The Bond Buyer's National Outlook event this Thursday, will play a key fiscal role.

The new-issue calendar is led by Washington with $1.3 billion of GOs selling by competitive bid in three series.

A trio of current and former Alaska lawmakers presented views differing from the governor's on how to solve the state's budget red ink.

Kutak Rock warns tax attorneys about the Internal Revenue Service doing compliance checks as opposed to formal audits on certain multifamily bond issues as tax season is expected to add more stress to an understaffed agency.

The rating agency cited weak operating results and high leverage.

The era of "announcement" is over; the era of "execution" is here.

Piper Sandler will price $100 million of electric revenue bonds for Iowa public utility Muscatine Power and Water on Wednesday.

Longer-term bonds could ease financial pressure for Sound Transit's $54 billion long-range plans.

A Massachusetts bill would authorize special obligation bonds to finance upgrades to the state's public university, school, and college campuses.

Munis enter this year with "strong credit fundamentals, elevated tax-equivalent yields, and a steeper curve that supports duration extension," said James Welch, municipal portfolio manager at Principal Asset Management.

States have been slow to put the money to work.

Proceeds will help finance late stages of construction of city hall.

A Senate bill would introduce public-private partnerships for transportation projects, while another would transfer ownership of roads to localities.

Yields have seen "intermittent volatility from broader macro and geopolitical crosscurrents, keeping sentiment cautious despite relatively muted headline moves," said James Pruskowski, managing director at Hennion & Walsh.

In rural areas, "even modest rate increases can force low-income households to choose between water service and other basic necessities," Matt Odermann from the National Rural Water Association told senators Wednesday.

Washington Gov. Bob Ferguson, who has lobbied for a wealth tax, told lawmakers their draft proposal needs work.

While fixed-spread tenders may be a novelty for tax-exempt bonds, they have been around for over 40 years for corporate bonds.

Terance Walsh, a 2025 Bond Buyer rising star, was named a partner by Nixon Peabody.