Public finance

ALABAMA

For the week ended May 14, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, increased two basis points to 4.41% from 4.39% the previous week.

Expect more downgrades for Chicago after Moody’s Investors Service dropped the city to junk, creating new liquidity concerns, warns Nuveen Asset Management LLC.

ARIZONA

ALABAMA

For investors with risk tolerance, uninsured senior COFINA bonds are attractive compared with other island debt as well as COFINA’s own subordinate debt, Barclays analysts said.

Senate Environment and Public Works Committee leaders plan June vote on six-year highway bill. The Committee for a Responsible Federal Budget recommends a path for sustainable highway funding.

Against a backdrop of urgency and uncertainty, transportation advocates are offering alternative revenue streams for New York's MTA.

ALABAMA

ARKANSAS

An issuer’s fare revenues for bus service along privately operated highway lanes would not cause bonds to be used to finance the lanes to be private-activity bonds, the Internal Revenue Service ruled.

State Rep. John McGinnis wants to shorten the Pennsylvania pension amortization period from 30 years to 20.

Lawmakers who vote to raise state gas taxes don't face an irate electorate at the next election, according to an analysis in seven states. Rep. Deb Fischer, R-Neb., introduced a bill to create a National Infrastructure Bank.

The municipal market’s credit and rate volatility last month could produce buying opportunities, according to a report from BlackRock Inc.

IOWA

FLORIDA

All federal transportation payments to states will stop as of June 1 unless Congress extends the short-term fix to the Highway Trust Fund before it expires May 31, Transportation Secretary Anthony Foxx said Monday in a letter to state transportation directors.

California has $80 billion of highway needs through 2025 with only $20 billion of available transportation funding.

The tax-exempt financing committee of the American Bar Association's taxation section is working on a paper that will identify for tax regulators modifications to tax rules that could facilitate public-private partnerships.

NEW JERSEY