Public finance

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

California Gov. Gavin Newsom said lowered revenues from the so-called "Trump slump" forced tough choices during annual May revisions to his budget.

A couple of "bond-friendly" economic reports released Thursday could encourage the Federal Reserve to reduce interest rates in the near future, some analysts argued.

Rep. Scott Fitzgerald said PROMESA indicated PREPA needed to regain access to capital markets and suggested a deal with bondholders would aid this.

For most investors, partnership matters, said Jamie Doffermyre, head of public finance syndicate and origination at Truist Securities.

The agreement includes $12.6 billion in spending for the fiscal year that begins July 1 and an income tax cut estimated to cost $160 million.

Among the defeated referendums were three for bonds totalling $146 million.

Siebert Williams Shank & Co has been censured and fined $55,000 by the Financial Industry Regulatory Authority for rule violations including reporting inaccurate trade times for roughly 12,100 municipal securities transactions.

Private investment is key to the train's future, said the CEO.

Strong enplanement growth, an expansive number of days of cash on hand and low costs outweigh credit concerns, analysts said.

While April was a challenging month for muni performance, this summer will be a more supportive environment, said Mark Paris, chief investment officer and head of municipals at Invesco.

Chicago will host its annual investor conference on Thursday as Mayor Brandon Johnson's administration faces challenges including a $1.12 billion deficit.

Since the attack, many in the industry have had conversations about how to better secure transfer of funds, Vivian Altman said.

Daniel Cohen hopes to leverage his decades of experience to grow Cabrera's brand. 

The muni market is recovering from tariff turmoil, and is more resilient than the day-to-day volatility suggests, Jamie Doffermyre of Truist Securities said.

The up to $385 million of sales and use tax revenue bonds will finance sewer projects to address sanitary system overflows under a federal consent decree.

May 6 brought disappointing results for two Midwest states with school bond referendums on ballots, as voters mostly rejected the issuances.

Even with Monday's U.S.-China tariff truce and Tuesday's inflation print, the market has felt better over the past several weeks, said Jamie Iselin, managing director and head of municipal fixed income at Neuberger Berman.

The Montana Facility Finance Authority can directly issue debt for a broader array of organizations following a legislative change.

Flight delays and safety concerns at Newark Airport has pushed FAA funding levels back into the headlines as the idea of issuing user fee supported bonds to provide a non-political revenue stream comes back to life.