Public finance

LSEG Lipper reported Thursday that investors pulled $144.5 million from muni mutual funds for the week ending Wednesday after outflows of $58.9 million the week prior.

Michael Milken's attorney Richard Sandler penned a book blasting his friend's prosecution. High-yield muni experts weigh in on whether Milken's influence extended to the muni market.

The approval last month by Texas voters of a constitutional amendment to create an endowment fund led S&P Global Ratings to revise the school's outlook to positive from stable.

"BNP Paribas choosing Miami to open its newest office reinforces our community's status as a top financial market within the global economy," said Miami-Dade County Mayor Daniella Levine Cava.

Policy ideas for creating more affordable housing have the potential to impact public finance.

Municipal mutual fund losses continued last week as the Investment Company Institute Wednesday reported investors pulled $475 million from the funds in the week ending Nov. 29 after $97 million of outflows the previous week.

Most bondholders voted for the plan, which offers an upfront cash payment and the extension of bond maturities by 25 to 35 years.

The city of Chicago and its Sales Tax Securitization Corporation won The Bond Buyer's 22nd annual Deal of the Year award for its $1.7 billion financing that addressed initiatives related to affordable housing, homelessness support services, environmental justice, and community development.

Republicans have repeatedly criticized the California high-speed rail project as a waste of taxpayer money.

Fitch Ratings has raised the Turnpike Authority's ratings to BBB-plus from BBB and assigned BBB-plus ratings to the Series 2024 A&B senior lien turnpike revenue bonds and Series 2024 subordinated TIFIA loan.

The $1.7 billion financing included Chicago's first social-designated bonds and a cross-credit refunding tender and addressed initiatives related to affordable housing and community development.

"This week's new issue calendar should be well received," said Anders S. Persson, Nuveen's chief investment officer for global fixed income, and Daniel J. Close, Nuveen's head of municipals.

The budget proposal keeps $16.3 billion in reserves and pays down an additional $455 million in debt. While providing $1.1 billion in tax relief to residents, the plan is $4.6 billion lower than the current fiscal year's budget.

The decision by the District of Columbia-based U.S. Appeals Court will officially vacate the Surface Transportation Board's environmental approval for the project.

"Disney has abandoned its fiduciary responsibilities to its investors and customers by joining far-left activists in boycotting legal, taxpaying, employment-creating corporations to further Disney's political agenda," state Treasurer Curtis Loftis said.

Cities and states are eligible to apply for the program, which gives eligible solar and wind facilities in low-income areas increased investment tax credits of 10% or 20%.

Judge says U.S. municipal bonds are less secured than people thought.

A new deal with Microsoft may help fill the void left by the underperformance of a Wisconsin incentive deal to lure Foxconn to the village of Mount Pleasant.

With a high of $450 billion and a low of $330 billion, no firms currently see issuance surpassing the records hit in 2020 and 2021.