Public finance

The Governmental Accounting Standards Board's new disclosure requirements focus on concentrations and constraints and governments will have to comply by June 15, 2024.

The agency plans to broaden its current market share and expand into new sectors.

Red state-blue state battles have complicated ESG issuance even as the muni market strives to make it an accepted asset class. The Bond Buyer's Lynne Funk, Karen Pierog, Chip Barnett and Keeley Webster discuss how it's playing out nationally and regionally.

Since November, 10-year munis have fallen 130 basis points, according to Refinitiv MMD. This has pushed ratios to near-record lows, said Jason Wong, vice president of municipals at AmeriVet Securities.

The Alameda Corridor Transportation Authority announced a tender offer as part of a restructuring plan that could culminate in $1.36 billion of bonds.

House Republicans want 2024 appropriations offset with cuts from "COVID-era slush funds."

The state of Illinois is preparing to issue $600 million in new Build Illinois junior sales tax revenue bonds next week.

After this week's sale, the state intends to issue another series of refunding bonds in February in connection with a potential tender offer for taxable GOs and a current refunding of some tax-exempt GOs.

Despite the outperformance this week, and while the asset class had "a stellar December, which rounded out a very solid year," Barclays PLC strategists said the high-grade muni market has become "quite rich."

Judge says the issues can be considered at March's confirmation hearing.

"It's inevitable there will be spending cuts," said Emily Brock, federal liaison for the Government Finance Officers Association.

Without admitting or denying the findings, David Elgart of Sequoia Investments has agreed to a $20,000 fine and an 18-month suspension from association with any FINRA member firm for acting as an unregistered dealer.

"The work done by our agency often focuses on the long-term," said Connecticut State Treasurer Erick Russell.

Labor costs that continue to squeeze operating margins remain the biggest obstacle for the nonprofit healthcare sector.

Moody's also affirmed the A1 rating on the authority's $3.2 billion of general revenue bonds and the A2 rating on the $2.5 billion of general revenue junior indebtedness obligations.

Bonds used to buy eight senior living properties in Michigan and Ohio are likely to default within six months, S&P Global Ratings said.

The muni market enters this year from a relative position of strength, said Jeff Lipton, managing director and head of municipal research and strategy at Oppenheimer.

The Senate Committee on Homeland Security and Governmental Affairs unanimously passed the bill in October.

Blaylock Van is bolstering its overall institutional capabilities and reaffirming its commitment to the muni market, said Leonard Jones, executive director of municipal banking and head of public finance, at the firm.

The Municipal Securities Rulemaking Board is coming under fire from broker-dealer and municipal advisor groups for what those groups see as an opaque process.