Public finance

Two courts affirmed the federal government's obligation to fund the Gateway project. 

The house debated for 26 hours straight before approving the millionaires tax.

Ajay Pathak and Bill Reisner will co-lead a differentiated healthcare practice in Stifel's public finance group.

State authorization for $1.35 billion of taxable ratepayer-backed bonds sold in 2022 for Oklahoma Natural Gas Company is being contested in court.

The HOME deal is being priced through the Philadelphia Redevelopment Authority, but carries ratings on par with the city's issuer ratings.

"We're still seeing continued yield pressure out there from the market outlook investors have with the conflict in Iran," said Ajay Thomas, head of public finance at FHN Financial.

S&P Global Ratings cited the state's structurally balanced budgets and progress on improving the finances of its pension system.

The authority would own and oversee a $3 billion partly bond-financed domed stadium for the NFL's Kansas City Chiefs.

Allowing tax-exempt bonds to remain outstanding during a long-term concession would lower financing costs, advocates say.

The rating agency cited the state's sustained improvements in fiscal management and robust reserves.

The market is navigating volatility driven by geopolitical issues, which has led to trouble for certain deals.

The March/April period is typically a softer period for the muni market, said Jeff Timlin, managing partner and head of municipal bond investing at Sage Advisory.

The Texas city's bond issue will mostly refinance short-term commercial paper into long-term debt and refund some callable Series 2015 bonds.

The rating agency cited weak demand for the facilities.

Market Intelligence analyst Jeff Lipton assigns a stable yet guarded view to airport bonds, highlighting how gateways and large hubs can outperform as fuel costs, travel demand and geopolitical risk evolve — while investors sharpen focus on leverage, rate recovery and cyber defenses.

Chicago postponed the sale of about $292 million of tax-exempt bonds from an $800 million general obligation bond deal.

The Aa2 rating was affirmed, but the negative outlook could raise the stakes as New York lawmakers debate the city's budget gap.

"There was a certain amount of resilience munis had in the last week, comfortable enough with distribution," said Kim Olsan, senior fixed income portfolio manager at NewSquare Capital Markets. "But the 10-year Treasury backing up behind 4.20%, it proved to be the catalyst for adjusted bid-sides."

The state says the $6.5 billion project is not possible without toll revenue.

The initiative would create a bond-funded program to help middle-class homebuyers afford a downpayment.