Public finance

Muni yields were bumped up to eight basis points, depending on the curve, on Tuesday, but for most of last week, U.S. rates sold off on the heels of passed legislation, said Barclays strategists Mikhail Foux and Grace Cen.

This episode takes us inside The Bond Buyer's recent Southeast Public Finance Conference, where airport finance leaders from Orlando and Tampa discussed shifting passenger trends, modular capital planning, federal grant concerns, and why long-term growth still looks strong.

The judge ruled the administration cannot freeze New York's federal funds in its bid to halt the controversial tolling program.

The rating agency cited concerns about limited unrestricted reserves for lowering its rating outlook for more than $1 billion of debt.

Mayor Mike Johnston, who announced furloughs and a hiring freeze, said an economic downturn spurred by President Donald Trump is major challenge for the city.

Maryland is preparing for upcoming bond sales as the state treasurer responds to a Moody's downgrade by suggesting the state part ways with the rating agency.

Issuers routinely refund 5% bonds in year 10, and the resulting savings can be significant. It is notable that although refunding is typically associated with declining interest rates, 5% bonds are refunded even if rates rise.

Facing big demand for housing, the state's efforts to spur development have spurred litigation by cities challenging recent laws and a compliance crackdown.

The department shifted funds that would have been invested in solar power to improve the island's electrical system.

"We're seeing some of the additional instability and other things come into play," said Dan Genter, CEO of Genter Capital Management.

The Internal Revenue Service is requesting documents from the Erie City Water Authority regarding a $36,320,000 issuance of Water Revenue Bonds Series D of 2019.

The revenue bonds, which would help finance a bigger convention center to replace the city's current facility, would be issued in the first half of 2026.

Municipal bond insurers wrapped $7.316 billion in the first quarter of 2025, a 2.6% increase from the $7.132 billion insured in the first quarter of 2024, according to LSEG data.

Gov. Ron DeSantis wants property tax cuts and House Speaker Daniel Perez wants a sales tax cut as future state deficits are projected.

Moody's based this downgrade on the lowering of the rating of the United States government.

"Light demand" for Wednesday's 20-year Treasury bond auction "propelled yields to the nosebleeds and equities to the basement," said José Torres, senior economist at Interactive Brokers.

California Gov. Gavin Newsom's proposal to speed plans for a second tunnel for the state's water conveyance system is facing stiff opposition from the Delta Caucus.

Chicago's O'Hare airport is in the middle of dispute between United Airlines and American Airlines at a tense time for the airport and airline sectors.

The "risk to the tax exemption appears to have dropped sharply as of last week ... taking with it the hypothetical risk of a supply surge ahead of any end-date for borrowers' exemption access," said Matt Fabian, a partner at Municipal Market Analytics.

Congress needs to lift limitations on tax-exempt private activity bonds, say transportation advocates.