Public finance

Amid deep cuts to public K-12 schools, the proposed budget would boost charter school investment as the administration said "more local school options are needed."

Hilltop currently ranks 19th year-to-date among managing underwriters of municipal bonds, underwriting $1.2 billion in 53 issues.

Bessent explained why he thinks Trump's tariffs, tax cuts and deregulation will create fertile ground for investors in a speech at the Milken Institute's global conference.

With a funding agreement in the state budget, the Metropolitan Transportation Authority is gearing up to start capital repairs — and find $3 billion of savings. 

Gov. Josh Stein wants to retain control over the majority of appointments to the North Carolina Utilities Commission.

Lawmakers are putting the final touches on the budget, and Gov. Kathy Hochul said there is broad agreement. Federal cuts may yet scramble everything.

"For munis, a strong jobs report should reverse recent credit spread widening, while a weak jobs report should keep credit spreads around current levels," said BofA strategists.

As cutting the federal budget resonates as a central theme in the Trump administration, the Department of Transportation is getting a boost in appropriation proposals.

The ratings agency changed its outlook on its BBB-minus rating to negative from stable Wednesday.

Pew Charitable Trust outlined how governments can better prepare for natural disasters to alleviate budget pressures as these incidents have grown in frequency and severity.

"As we head into reconciliation and tax negotiations, I'm making it clear: I won't support a bill that doesn't lift the cap," Rep. Mike Lawler said.

KBRA downgraded Los Angeles GO bonds to AA from AA-plus in the city's second downgrade within a week. The city's lease revenue bonds were also cut.

The ratings agency is growing more pessimistic about the United States economy.

Long Beach has few, if any, peer credits for the $88 million of marina revenue refunding bonds it plans to price next week.

Ohio's governor is critical of a legislative plan to support a Cleveland Browns stadium in suburban Brook Park with $600 million of state bonds.

The city, which faces a budget shortfall, would receive the lesser of 30% or $80 million of Harris County Toll Road Authority surplus toll revenue.

April's volume was revised upward to $45.825 billion in 727 issues, up 2% from $44.945 billion in 707 issues in the same period in 2024, according to revised LSEG data.

The top 10 saw some changes, with Gilmore & Bell and Squire Patton Boggs entering the top 10, while Troutman Pepper Locke and Ballard Spahr were bumped.

The "Golden Age of Public Finance," as it was called by industry pundits, is likely to face significant changes under the Trump administration.

Revisit each class of The Bond Buyer's Rising Stars, from 2016 through 2024, as nominations open for the 2025 honorees.