Public finance

The appeals court grants an expedited schedule to the appeal.

The municipal bond rally has brought two big Illinois issuers into the market with plans to sell refunding bonds this week.

Issuers should "absolutely be issuing if possible; the end of year outlook is positive on the surface but substantial volatility lies just below and could arrest or interrupt what have been easier primary market conditions," said MMA's Matt Fabian.

Joe Ferguson, who served as Chicago's inspector general under three mayoral administrations, replaces Laurence Msall, who died earlier this year.

"The city cannot provide everything to everyone. But it can thrive and help our most in-need neighbors if it prioritizes key services, relentlessly manages them to get results, and operates effectively and efficiently," said the CBC's Ana Champeny.

The Plan of Action for Regional Transit asks lawmakers for $1.5 billion of new operating support for transit and at least $400 million annually of complementary capital investments.

Justin Cooper, Orrick's co-head of public finance, breaks down how states like Oregon, Washington and California are funding efforts to lessen their affordable housing and homelessness crises. Keeley Webster hosts (24 minutes)

The Federal Open Market Committee's Summary of Economic Projections probably won't offer the 130 basis points of cuts next year that the market expects.

Bond parties say their action against the commonwealth of Puerto Rico isn't barred by PREPA bankruptcy.

The weakness came as the new-issue calendar grew to $5.9 billion with the addition of a $900 million refunding deal from the Illinois State Highway Toll Highway Authority slated for Thursday. Bond Buyer 30-day visible supply sits at $6.95 billion.

Nuveen's marquee fund has seen the worst performance among the largest high-yield funds so far this year.

The state's Democratic leaders approved $19 million in emergency funding for road maintenance and snowplows after ODOT said it would cut back snowplow services to four days a week amid inflationary pressures and gas tax revenue declines.

The state would raise $500 million through internal debt sales backed by oil and natural gas severance tax revenue to fund long-term water purchase contracts.

Finance officials from Ohio, Illinois, Pennsylvania, Oklahoma and Palm Beach County have joined Israel Bonds' new Government, Industry and Financial Services Leadership group.

Photos from The Bond Buyer's 2023 Deal of the Year award dinner.

Friday's S&P upgrade to triple-A follows similar moves by Moody's Investors Service last week and Fitch Ratings last year.

The new-issue calendar comes in just over $3 billion, of which is $847 million of state personal income tax revenue bonds from the Empire State Development in three competitive sales.

"Higher education is going to be facing continued challenges in the near term," said Tom Kozlik, managing director at Hilltop Securities.

More than one out of every 100 residents who pay income taxes left the Empire State during the pandemic in 2020, according to report released by state Comptroller Thomas DiNapoli. And, while slowing, the trend hasn't stopped.

It's the second try for the bill, which Sen. Dick Durbin, D-Ill., first introduced in 2021.