Public finance

Municipal volume is forecasted to rise in the holiday-shortened week, with three of the four biggest deals tied to oil.

The Government Finance Officers Association is levelling strong criticism at Moody's Investors Service for failing to provide its credit ratings to EMMA and urging the agency to do so.

Municipal market participants applauded President Obama’s proposal on Friday to create a new type of tax-exempt municipal bond that could be used to help finance public-private infrastructure projects, but one questioned whether it will pass muster with Congress.

Lazard Freres, which represented retirees in the Detroit bankruptcy, said it agreed to a 37% fee reduction as part of court-ordered mediation.

Short term municipal bonds, after posting negative returns in December, may still have value as an alternative to staying in cash while waiting for the Federal Reserve Board to raise interest rates.

ALABAMA

ALABAMA

Muni Bond Indexes Strengthen Again in Latest Week

The Senate Finance Committee took a step toward comprehensive tax reform on Thursday by launching five bipartisan working groups charged with issuing a report with recommendations by the end of May.

Weakening gasoline tax revenues will force Missouri to concentrate limited financial resources to road work on major arteries.

ARKANSAS

ALABAMA

Standard & Poor's maintains a negative outlook on the nonprofit higher education sector in 2015.

Chamber of Commerce chief Tom Donahue says oil price drop makes federal gas tax increase seem more attractive.

Analysts attribute the spate of municipal bankruptcies since 2011 to the aftereffects of the 2008 credit crisis and Great Recession, as well as changing attitudes about debt.

Municipal bonds could get caught up in corporate tax reform, particularly if infrastructure financing is involved, a former Treasury Department official said.

CALIFORNIA

MICHIGAN

Municipal bond defaults, which increased to record levels last year as Detroit's bankruptcy boosted the total, may remain elevated this year.

The Charlotte, N.C., City Council agreed to restructure two non-recourse bank loans obtained as part of the financing to build the NASCAR Hall of Fame.