Public finance

Detroit, which has several climate-friendly projects in the pipeline, is seeking a tax advisor to help navigate snag tax credits in the Inflation Reduction Act.

The Houston City Council was unable to vote on initial financing for a $2.55 billion terminal renovation project at George Bush Intercontinental Airport without certification by the city controller.

The Chapter 11 case for Harvest Gold Silica follows two other bankruptcy filings over the last year by entities that sold bonds through the Arizona Industrial Development Authority.

"Our firm is committed to expanding in regions and sectors with robust muni issuances and we view the K-14 market in California to be a great intersection of such," said Gary Hall, SWS president of infrastructure and public finance.

The nation's capital is a hub of potential sports facility financing.

The state's February general revenue collections came in $30.62 million below official estimates. but total collections for fiscal 2024 are $428.1 million ahead of forecasts.

Cabrera Capital Markets is welcoming three new public finance hires who are joining the firm from UBS: Shawn Dralle, Shawnell Holman and Chris Bergstrom.

Loop Capital Markets is adding four seasoned public finance professionals from Citi and UBS: John Malpiede, John Giammarino, Alain Garcia and Candace Kelly.

It was a good day for munis with larger deals clearing the primary and secondary trading showing a more constructive tone with triple-A yields falling a few basis points amid a stronger session for all markets.

U of I's plans to issue debt ahead of the expiration of a non-binding agreement in May were challenged by a state high court decision to hear an appeal and an Idaho House of Representatives resolution.

Harvard and Princeton coming to market is a "huge sign of confidence," said Clare Pickering, a Barclays strategist.

The New York Metropolitan Transportation Authority and the Triborough Bridge and Tunnel Authority are planning several note and bond sales this month as well as several remarketings, the MTA said.

The North Dakota Housing Finance Agency recently priced $189 million of bonds for its home mortgage finance program, a sector in which issuance has increased.

The separate settlements some bond parties have reached with the Oversight Board "dramatically violate" the trust agreement, the trustee's attorney said.

Large deals were repriced to lower yields while the secondary market was lightly traded, leading to little changed triple-A yield curves and underperformance to Treasury market gains. Despite a growing calendar, the supply demand imbalance remains with much cash on the sidelines.

The denied motion will give Rochester MAs Richard Ganci and Richard Tortora of Capital Markets Advisors the opportunity to motion for summary judgment, giving the judge a chance to consider all of the evidence present in the case.

The rating agency cited the university's structural budget imbalance and management turnover among factors that drove the outlook revision to negative from stable.

The city has again proven to have a resilient economy, with better than budgeted revenues, said Howard Cure, a partner and director of municipal bond research at Evercore Wealth Management LLC.

It's been two years since Dolton, Illinois, filed audited annual financials, and hints of fiscal stress include a threat to repossess police cruisers.

Dealer groups look forward to the upcoming meetings to discuss the future of Municipal Securities Rulemaking Board fees.