Public finance

With at least one important aquifer reaching peak allowable draw this year, Florida's water utilities are looking at a variety of infrastructure approaches.

Issuance remains heavy this week, but while it's elevated, the muni market is "structurally undersupplied," meaning if 2024's record level of $500 billion-plus of issuance was doubled, the market could still digest it quite well, said Wesly Pate, a senior portfolio manager at Income Research + Management.

Missouri lawmakers have opened a new salvo in the battle with Kansas over who gets to fund new stadiums for the Kansas City Royals and the Kansas City Chiefs.

Mass deportations and tariffs on key trade partners are expected to have a "significant" negative impact on the U.S. and California economies, according to the UCLA Anderson Forecast.

The Texas city, which is considering an $800 million general obligation bond election next year, expects to issue nearly $400 million of debt in 2025.

The House Committee on Transportation and Infrastructure is in the early stages of hammering out a surface transportation bill designed to prop up the Highway Trust Fund while House Ways and Means tinkers with a tax deal.

Disasters like wildfires, floods and hurricanes "are striking harder and more often."

Illinois will sell $725 million of junior sales tax revenue bonds in a competitive deal pricing Tuesday. The Build Illinois bonds will fund capital projects.

The top five bond financings totaled more than $6 billion.

Short-end U.S. Treasuries rallied mid-morning, while UST yields were little changed out long, but ended the day weaker across most of the curve with the greatest losses out long. Munis were steady throughout the day.

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.