Public finance

The growing federal debt level may pressure lawmakers to retract or reduce the tax-exemption for munis to generate revenue, some market participants argue.

It's a time of change, challenge and opportunity in the infrastructure and P3 space, Patrick Harder said.

The meeting was attended by trade organizations, MSRB board leadership, Finance Committee members and MSRB senior staff.

The Federal Emergency Management Agency is asking for an additional $9 billion for this year in hopes they don't run out of funds in August as they're currently slated to.

States are increasingly turning to public-private partnerships with developers to create new workforce housing so residents can afford to live where they work.

"April has been one of the worst-performing months over the past five years, which we believe warrants continued caution," BlackRock strategists said.

Los Angeles Mayor Karen Bass aimed high in her State of the City speech just days before she will release a budget that needs to close a nearly half-billion-dollar deficit.

"We believe in this," Transportation Secretary Pete Buttigieg said.

Barclays' Mikhail Foux talks shifting demand, BABs refundings, election effects and what it means for the asset class in a volatile market.

The firm said Saporito's hiring is among several other additions made to beef up Wells Fargo's commitment to munis.

The Hall of Fame initiative celebrates individuals whose careers have left an indelible mark, while the Rising Stars program recognizes the muni finance leaders of tomorrow. Nominations for the 2024 classes will be accepted until Friday, May 31. This will be the final deadline.

While Kansas' sales tax and revenue (STAR) bond program recorded its first default late last year, Bonner Springs is considering using it for a development that includes a Mattel toy-themed amusement park.

Brodie Killian has moved to PFM from Stifel Nicholas & Co., joining its Ann Arbor office as a director.

April continues to be "harsh" for munis as the asset class has given up roughly 72 basis points in the first two weeks of the month, said Jason Wong, vice president of municipals at AmeriVet Securities.

The city may have to make deeper cuts next year if voters don't approve two tax increases headed for the November ballot, if the City Council approves.

The most recent open solicitation period, last October, yielded three proposals.

"We were originally thinking that we would offer five-, seven- and 10-year maturities, with $500 million in each tranche. But we decided today to just offer 5s and 10s — $500 million of five-year bonds and $1 billion of 10-year bonds," said Ben Watkins, Director of Florida's Bond Division.

Duluth-based St. Luke's affiliation with Aspirus Inc. has lifted the prospects for its speculative-grade bonds; S&P placed the hospital on CreditWatch positive.

New York City Municipal Water Authority returns to the municipal primary after a $1.4 billion deal earlier this year.

In a week marked by inflation and jobs data that made clearer the Federal Reserve will not be cutting rates nearly as much or as many times as some had expected even a week ago, Friday's headlines further complicated the landscape for investors and munis have had little choice but to go along for the ride.