Public finance

"For each May dating to 2021, the average 30-year MMD was 2.74% — or 122 basis points below the current yield," FHN Financial's Kim Olsan said. "The recent adjustment offers better investor value."

Like many higher education institutions, the university's financial woes started when enrollment dropped thanks to the COVID-19 pandemic.

With a myriad of challenges facing state and local governments to fund vast infrastructure needs amid a shifting climate and severe weather events, there are government officials across the country that have begun to address them head on. Paying for them is one of the biggest challenges.

As EVs and fuel-efficient cars become more common, states and Congress are eying alternative revenues like road user charges.

The authority's CEO said it has no money for facilty maintenance.

Municipal bond mutual funds saw the second week of outflows as investors pulled $217.6 million from the funds after $546.2 million of outflows the week prior, according to LSEG Lipper. High-yield saw inflows again.

Local rainfall standards, which affect the design of everything from roads to bridges and stormwater systems, offer a clue whether a city or state is taking infrastructure resilience seriously. Outdated standards remain in many areas, like in the Pacific Northwest.

Palm Beach County residents are using a Florida law passed last year aimed at ESG investing to challenge its county's investment in Israel bonds.

The ongoing influx of new-issue supply has pushed muni-UST ratios to at or near year-to-date highs, J.P. Morgan strategists said.

Indiana officials celebrated the completion of the first of three major commuter railway upgrades, which together represent the state's largest rail project.

More than two dozen issuers have announced plans to refund their BABs this year, despite objections from investors.

The steady demand for municipal bonds in high-risk areas underscores the complex relationship between climate change and financial markets.

Signature Bank owned nearly $15 billion of mortgages across four of New York's five boroughs, making it the largest lender to rent-regulated housing in the city.

Mayor Brandon Johnson and Chicago's finance team talked up the Windy City's economy and talked up bond sale plans at an event for municipal bond investors.

Several weeks of elevated supply should theoretically be "weighing more on performance, but the market is now just ahead of its largest reinvestment season, which so far in 2024 has become even more pronounced, with an additional $19.5 billion scheduled for call/redemption between [June 1 and August 30]," said Matt Fabian, a partner at Municipal Market Analytics.

A professional basketball arena costing at least $900 million moved forward in Oklahoma City with the city council's approval of a development agreement.

CPS Energy, which provides electricity and natural gas in the San Antonio area, has a $1.05 billion revenue bond issue pricing in early June.

Fitch said Illinois has to resolve questions on Tier 2 pension benefits, and fixing Tier 2's failure to meet IRS safe harbor provisions would be credit neutral.

A strong project pipeline has P3 advocates hopeful for the future, despite some lackluster recent numbers.

Fitch raised its rating on about $260 million of municipal bonds, backed by payments-in-lieu-of-taxes, from C — the lowest category before default — to CC.