Public finance

The city's Independent Budget Office projects New York's operating surplus as a percentage of tax revenue will fall to 4.8% at the end of the fiscal year.

The New York City Transitional Finance Authority plans to make an impact on the municipal market this month with $1.8 billion of bond sales.

S&P Global Ratings primarily cited a "precipitous decline" in unrestricted cash to explain its triple-notch downgrade of the system.

Texas, Oklahoma, and other Southwest states would jump on the bitcoin bandwagon amid a nationwide surge in bills to invest public money in cryptocurrencies.

"Apathy and caution" were the theme of the past week, said Birch Creek strategists.

Wisconsin will be in the market Wednesday with $253.9 million of general obligation bonds, with some proceeds funding the Blatnik Bridge replacement project.

Pamela Frederick and Adam Barsky will share their views on the importance of the tax-exemption, how it benefits state and local governments, taxpayers, and U.S. retail investors -- and keeps the country competitive on a global scale.

The governor aims to secure federal funding with latest executive order in aftermath of Los Angeles fires.

The Trump administration wants to shed federal office space, and bonds backed by those leases are feeling the heat.

It was 2024's biggest national conduit. You may not have heard of it. New Hampshire's National Finance Authority has become a big issuer with a low profile.

The $2.5 billion Brightline West and $849 million Hawaii deals stood out among the rash of issuances last month alongside the ongoing tax exemption debate.

New York City leads the negotiated calendar with $1.4 billion of GOs, followed by the Regents of the University of California with $1.2 billion of general revenue bonds.

Bond trustee UMB Trust has engaged Lighthouse Management Group to serve as the receiver.

February's volume was at $33.725 billion in 622 issues, up 1.6% from $33.191 billion in 614 issues in February 2024, according to LSEG data.

The American Securities Association in a brief filed in the U.S. Court of Appeals for the Eleventh Circuit said an SEC order should be set aside because the MSRB is unconstitutionally structured.

A state-by-state review of 2024 yearend issuance in the Far West.

Issuance in the Far West was up 30.8% year-over-year to $98.9 billion. Muni market observers say issuers tried to beat the uncertainties of the election.

One California city has found that corralling a joint powers authority isn't easy.

While UST yields rose up to five basis points out long Thursday, the current rally "that has taken the 30-year UST closer to where the 10-year yield traded a week ago has not impacted the same range in munis," said Kim Olsan, senior fixed income portfolio manager at NewSquare.

The planned fiscal 2026 increase in bonding is expected to continue for several years.