Public finance

The loan is part of an Inflation Reduction Act program that finances the restart of renewable energy projects that have ceased operations.

The ISM report "feeds into the narrative coming out of last week," whereby the economy's resilience enables the Fed "to be patient," said Gregory Faranello, head of U.S. rates trading and strategy for AmeriVet Securities. For the bond market, that means rates stay "higher for longer."

March issuance came in at $36.405 billion, above the $34.579 billion 10-year average, according to LSEG Refinitiv data. 

After decades of underinvestment, Pennsylvania is launching two new grant programs to help schools fund facility improvements. These grants, the state hopes, will encourage districts to spend more money of their own.

The bonds refunded of two earlier series of student fee bonds: the taxable Series Z-2 Build America Bonds, and the tax-exempt Series BB-1 bonds.

LSEG Lipper reported fund inflows of $447 million while high-yield muni bond funds saw another round of inflows at $246 million, marking the 12th consecutive week of positive flows in that space.

D.C. promises $515 million in improvements to its existing downtown arena.

A bond-financed purchase of the Stanley Hotel in Estes Park, Colorado, which served as an inspiration for Stephen King's The Shining, is being pursued by the Colorado Educational and Cultural Facilities Authority.

In a recently released survey by the Citizens Budget Commission, New Yorkers said they are feeling much less safe, with only 37% rating public safety in their neighborhood as excellent or good, down from 50% in 2017.

Congestion pricing proponents claim it will reduce gridlock, improve air quality in Manhattan and boost ridership on the MTA, which has never recovered its pre-pandemic ridership levels.

Most of the selling during tax season happens on the front end of the curve, said Wesly Pate, senior portfolio manager at Income Research + Management.

"Now that the first phase of Miami Worldcenter is complete and the second phase is underway, our team is issuing bonds backed by the TIF package, which will help defray the cost of the improvements made in the district," the development team said.

Absolute yields "remain attractive in the context of the trading range over the past three years and our longer-term projections for lower rates this year," according to J.P. Morgan strategists.

Supply chain disruptions and economic impacts are raising concerns.

The Washington state island hospital's financial turmoil brought rating downgrades from Moody's Ratings.

Only one of 14 legacy generation facilities were operating normally at the end of January, suggesting less recovery for bondholders.

The former Citi banker earlier this month was tapped by Huntington National Bank to become the firm's head of public finance, becoming the fourth woman to ascend to the role in the municipal industry.

Rating agency cited built up reserves as a key to the city's "better financial footing."

The University of Chicago's Harris School Policy Innovation Challenge is a "Shark Tank"-style competition in which eight teams took on Chicago's pension problem.

The onslaught of new-issuance and approaching month- and quarter-end led triple-A yields to rise up to seven basis points on the short end and as much as three to five elsewhere along the curve, despite stronger U.S. Treasuries. Short ratios rose as a result.