Public finance

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

The Phoenix-based university will not have to pay a $37.7 million fine after the U.S. Department of Education dropped its case.

Chicago is "diligently preparing" to sell debt, now that the bond market has mostly recovered from April's turmoil, Chief Financial Officer Jill Jaworski said.

The Municipal Forum of New York presented three awards to industry leaders and veterans at its annual awards and leadership fellows fundraising dinner. 

"We have got to keep the money coming in to transit," said Sen. Elizabeth Warren D- Mass.

Some bills seeking to restrain local government debt issuance are still alive as the Texas Legislature's 2025 session heads towards its home stretch.

"Munis are no longer moving on headlines; they're reacting to rates and supply," which is playing out again Monday after a choppy March and April, said James Pruskowski, chief investment officer at 16Rock Asset Management.

The Federal Open Market Committee will meet on June 17-18. While no rate cuts are expected at this point, things can change quickly. Lauren Saidel-Baker, economist at ITR Economics, provides her take on the meeting the new Summary of Economic Projections and Fed Chair Jerome Powell's press conference.

The bondholders and board faced off over the creditors' belief they they are due the administrative expense claim.

The macroeconomic boost from U.S.-China's 90-day pause on tariffs is partial and could prove temporary, S&P Global Ratings analysts said.

Municipals were cut up four basis points, depending on the curve, through noon.

Pops, a managing director at cfX, a municipal advisory firm serving housing finance agencies, brought passion and institutional knowledge to the sector.

The deal includes a mix of new money and refunding, with a small forward-delivery series, as the authority plows forward with capital plans.

Rising debt and interest payment ratios over more than a decade, to levels higher than other nations', prompted the downgrade, Moody's said.

Issuance for the week of May 19 is estimated at $11.667 billion.

Lawmakers have $755 million less to spend and only six more weeks to work on the two-year budget.

As the Trump administration puts its stamp on dispensing infrastructure funding, proponents of P3's, PABs, federal and formula funding are squaring off against grants to state and local governments.

The rating agency, which gave the state a positive outlook a year ago, upgraded its general obligation rating a notch to AA-plus ahead of a $25 million bond sale.

The Indianapolis Local Public Improvement Bond Bank priced $125 million revenue bonds, with delivery expected next week.

At a Bond Buyer conference in Atlanta, industry leaders talked about tariff turmoil, the tax-exemption, weather resiliency, infrastructure and more.