Public finance

The wait for finished audits dropped across municipal sectors from 2022 to 2023, a new report says, but the median time is still higher in the long run.

BlackRock strategists are "constructive" on munis for multiple reasons and think the current market environment presents itself as a buying opportunity, especially as issuance continues to be elevated and provides "ample ability" to source bonds in the primary market.

Hospital spreads have widened as investors wait to see how the One Big Beautiful Bill will impact providers.

The bond panel approved $215 million in public facilities revenue bonds and $125 million in housing bonds.

The U.S. Virgin Islands WAPA said the Public Service Commission's reduction of electric rates jeopardizes its ability to pay bills and provide electric service.

A "lighter-than-anticipated CPI report" led to UST firmness, as it "quelled fears about tariff-related inflation and boosted enthusiasm that the Fed will cut rates in the next two or three meetings," said José Torres, senior economist at Interactive Brokers.

In a Monday special session that went late into the night, the state legislature passed a $66 billion budget that includes a $700 million bonding bill.

The bill would exempt lead service line replacement projects from the IRS' private business use test.

CEO Michael Ruvo calls the Effi module an "offensive tool" that complements the firm's other transaction analytics instruments.

Bexar County officials passed a resolution related to a potential Nov. 4 ballot measure on venue taxes for a new San Antonio Spurs basketball arena.

The Columbus City Council approved a November ballot measure seeking voter approval for $1.9 billion of triple-A-rated general obligation bonds.

The elevated new-issue market comes on the heels of one of the largest weeks of issuance.

After the University of Idaho canceled plans to buy the for-profit online University of Phoenix, Moody's Ratings removed the school from watch for downgrade.

From elite universities to rural hospitals and ports, federal actions are shifting the muni credit landscape. IR+M's Wesly Pate explains how buy-side firms are reacting.

The Uinta Basin Railway's request for $2.4 billion of PABs comes as the U.S. Transportation Department is almost at its $30 billion debt cap.

The action follows an upgrade for the sole purchaser of its power.

"The broader themes from the demand perspective are that it's choppy and people are not necessarily jumping into high-yield munis with both feet," said First Eagle's John Miller.

The software uses pre-trade quote data to help predict the next trade level of bonds.

Whether PREPA can pay the administrative expense claim doesn't affect its validity, the bond parties said.

However, the new-issue calendar may not be "absorbed as easily, given valuations have grown less compelling after this week's performance," said Birch Creek strategists.