Public finance

The median time for issuers in all municipal bond sectors to produce audited financials rose nearly 10.5% from 2011 to 2022, according to a new report.

"In terms of credit quality, high-yield funds proved resilient" while investment-grade funds saw outflows of $673 million, noted J.P. Morgan's Peter DeGroot in a market note.

Muni exchange-traded funds are "dominated" by retail and are "momentum driven," said David Litvack, a tax-exempt strategist and chief investment officer at BofA.

Texas Capital hired Steve Genyk, a former public finance head at UBS Financial Services, as a managing director to lead its new public finance business.

The bond parties opposed to the plan of adjustment have already argued the Puerto Rico Oversight Board's electricity projections are too pessimistic, Judge Swain said.

The measure "sets the table for a likely big tax bill next Congress," said Charles Samuels of Mintz Levin.

"This bipartisan FAA reauthorization bill is the product of endless hours of negotiation and debate and will transform several aspects of flying in the years to come," said Aviation Subcommittee Ranking Member Rep. Steve Cohen, D-Tenn.

Enviva's $353 million in tax-exempt bonds currently are among the liabilities at stake in the company's Chapter 11 bankruptcy.

Fitch Ratings cited new rating criteria and increases in state funding in giving Milwaukee a three-notch bond rating boost. The outlook is stable.

The CPI print keeps the possibility of the Fed cutting rates at least once this year, potentially at least two rate cuts if the data continues to point to a trend of inflation falling further, said Jeff Lipton, a research analyst and market strategist.

President Biden promises the Feds will pay to rebuild the Francis Scott Key Bridge.

"It's getting frantic out there," when it comes to competitive grants and drumming up local matches, said William Murdock, executive director of the Mid-Ohio Regional Planning Commission, speaking at a local government event during Infrastructure Week in Washington, D.C.

High speed passenger rail line leveraging $3 billion in DOT grants

The spending plan for the fiscal year that begins July 1 would draw down the city's general fund balance to fill a budget gap that has grown to $187 million.

The Cleveland Browns recently met with state legislators in Ohio to discuss public funding for plans including a new $2.4 billion domed stadium in a suburb.

Catch up on our recent coverage of the various legal issues and considerations impacting BAB redemptions.

This week's issuance is above the 2024's year-to-date weekly average of $7.6 billion, said Chris Brigati, senior vice president and director of strategic planning and fixed income research at SWBC.

The Turnpike Authority of Kentucky expects to sell the bonds on June 6.

To keep up with anticipated passenger growth, Phoenix Sky Harbor International Airport plans to build an additional terminal.

The ASCE in a report analyzing future infrastructure needs says it will take a mix of public and private funds to narrow the funding gap.