Public finance

The bond parties argue that they are due the multi-billion-dollar fee from PREPA in addition to bond pricipal and interest.

KBRA revised the outlook to negative on the Chicago Transit Authority's AA-minus rated TIFIA bonds, backed with farebox and operations revenue.

Triple-A muni yields plummeted up to 50 basis points Thursday in a dramatic reversal from the week's earlier collapse. Speaking live at The Bond Buyer's Texas Public Finance event, market leaders painted a picture of extreme volatility, impaired liquidity, and an uncertain path forward.

The Bond Buyer took the pulse of municipal bond market pros to see what they are doing and advising in the midst of the volatility driven by President Trump's shifting tariff policies.

"The equity market is looking at this more positively, but bonds are still thinking, 'Well, these tariffs still have to be resolved,'" said Kim Olsan, a senior fixed income portfolio manager at NewSquare Capital.

The top 25 state and local pension funds alone have seen the value of their public equities investments drop by a total of nearly a quarter of a trillion dollars in 2025, with roughly $169 billion of those losses coming during the four trading days that followed the Trump administration's April 2 announcement on global tariffs, a think tank said Wednesday.

Some congressional Republicans are concerned taxpayers aren't getting a good return on their investment in transit, as lawmakers gear up for work on a new transportation bill.

The district was created to finance the redevelopment of the Delta Center, home to professional basketball and hockey, as well as other downtown projects.

Municipal AAA yield curves were cut up to another 42 basis points, depending on the curve, as of noon, pushing yields to multi-year highs and long-end muni to UST ratios above 100%. Muni yields have risen up to nearly 100 basis points in spots since the bond market rout began.

A $125 million bond sale by the Indianapolis Local Public Improvement Bond Bank for Indianapolis public transit operator IndyGo is on day-to-day status.

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Weakness in the muni market has been partly amplified by ETF selling; high-grade yields rose more than 60 basis points on parts of the curve over two sessions.

The non-profit climate advocacy organization called for better disclosure on climate risks and adaptation efforts as the prevalence of natural disasters grows.

The utility said it will appeal the judge's action, citing grave concerns about its impact on the Denver area's water supply in the wake of floods and drought.

Airport executives pushed lawmakers for streamlined funding, a boost in the passenger facility charge, and preserving tax-exempt bonds.

The judge cited "substantial evidence" for charges of collusion among the banks to fix interest rates on millions of variable-rate demand bonds.

A new S&P upgrade and one last year from Moody's burnish the Colorado Statewide Bridge and Tunnel Enterprise ahead of a $212 million revenue bond deal.

In March, BlackRock debuted a new tax-exempt municipal interval fund, IMTC inked partnerships with Franklin Templeton and T. Rowe Price and more.

"The changing momentum on what the market is looking for on tariffs and the volatility in the equity market is spilling over into the Treasury market, and munis can only fight the Treasury market for so long," said Pat Luby, head of municipal strategy at CreditSights.

The county will likely tap reserves, issue judgment obligation bonds and make departmental cuts to cover the $4 billion settlement.