Public finance

Increasing popular kicker bonds may seem like a sure bet for investors, but analysts warn the growing demand for the bonds is increasing their risk.

IOWA

CALIFORNIA

Inflow to municipal bond funds increased even though municipal bonds sold off most of the week.

Proposed legislation in the House would cut Amtrak's funding by 40% and redirect passenger-line profits to Northeast capital projects.

Syncora Guarantee Inc. is pushing back against widely reported claims that it is receiving 26 cents on the dollar in its tentative settlement with Detroit, saying the actual recovery is “much lower than reported.”

Coalition of shippers and operators of infrastructure assets wants long-term funding for freight projects in the next federal transportation bill.

Detroit's chief bankruptcy mediator ordered FGIC, the last holdout creditor, into talks with the city and Syncora Guarantee Inc. and other major creditors on Friday to try to resolve a dispute over $1.5 billion of certificates of participation.

While experts say municipals should have been included in the new liquidity coverage ratio ruling for large banks, they are at odds over its anticipated impact.

CALIFORNIA

ALABAMA

In its smallest cash-flow borrowing deal since 2006, California achieved a record-low interest rate on its $2.8 billion sale of revenue anticipation notes on Wednesday.

Municipal analysts should scrutinize local pension plans because they are subject to more event risk, according to a report by Loop Capital Markets.

Detroit and Syncora Guarantee Inc. will spend the next few days working to finalize a major agreement that would speed up the bankruptcy, but important questions remain in the case, muni market experts said.

Members of Congress broke the news early on allocations of federal TIGER grants ahead of the official announcement of awards totaling $600 million from the program.

Detroit's historic bankruptcy case saw a major breakthrough late Tuesday when the city and its strongest opponent, bond insurer Syncora Guarantee, announced they had reached an agreement in principal.

ARKANSAS

ILLINOIS

Detroit Mayor Mike Duggan said emergency manager Keyvn Orr will likely serve as a consultant to the city's bankruptcy after his tenure as emergency manager expires at the end of the month.

Guaranteed availability payments are becoming more attractive to private investors in infrastructure P3s than volatile toll or fare revenues.