Public finance

Some bondholders have retained legal counsel while others are in the dark about the company's plans.

City council approval of a five-part bond proposition for the Nov. 4 ballot comes as Denver faces a two-year, $250 million budget shortfall.

The state faces a $1.2 billion revenue hit in fiscal 2026 , as well as future spending pressures, from President Trump's One Big Beautiful Bill.

"If the narrative takes hold that the Fed is behind the eight ball and will need to cut rates several times in the coming months to catch up to the realities of a weaker economy, we expect muni yields will drift lower alongside treasuries," Birch Creek strategists said.

The plan being floated by California Gov. Gavin Newsom would nearly double the $21 billion fund created to protect the state's investor-owned utilities from outsized wildfire claims.

Illinois Gov. JB Pritzker on Friday signed pension legislation that will put Chicago on the hook for an additional $60 million in its fiscal 2026 budget.

The health network has struck up a partnership with the Dana-Farber Cancer Institute and is selling debt to finance the related infrastructure in Boston. 

Municipal yields fell four to seven basis points, depending on the curve, while UST yields rallied nine to 30 basis points, with the largest gains on the front end.

Legislation that would put a tighter limit on property tax increases for larger cities and counties advanced out of a Senate committee on Friday.

Moody's cited continued liquidity improvements in the ratings lift for the northern California clean energy aggregator.