Public finance

A fire underneath an elevated section of Interstate 10 closed a key piece of infrastructure in Los Angeles, California.

Flush with bond authorization from the Nov. 7 election, officials are formulating issuance plans, while Colorado's governor called lawmakers back to session after a property tax cut measure was defeated by voters.

"As with most fast rallies there are sessions when the market pauses to assess where fair value should play out," said Kim Olsan, senior vice president of municipal bond trading at FHN Financial.

Observers say Puerto Rico's 2024 elections may not change government policy much.

Rising interest rates resulting in economic growth is counter-intuitive, counter-historical, and counter to conventional economic theory. Munis have been largely impacted.

The law promises major changes to how issuers disclose data.

Municipal Market Analytics noted the current size of the outstanding TOB market — at about $50 billion from highs of nearly $500 billion before the Financial Crisis — reflects a reduced credit concentration risk and lower overall leverage.

A group of taxpayers argue that a property tax increase approved by Austin voters in 2020 for light rail cannot be used to support bonds.

The rating agency expects that an uptick in revenues will outpace expenses as the not-for-profit hospital industry gets a handle on labor costs.

A subpoena sent to the Oklahoma Corporation Commission this week seeks communications related to 2021's Winter Storm Uri and nearly $3 billion of utility securitizations that priced in 2022.

A constructive trading session in the secondary aided a busy primary once again as investors appear to be more engaged in the asset class.

Republican criticism over the bill's 64% cut to Amtrak prompted GOP leadership to tap the brakes on the bill late Tuesday.

The deal marks one of the rare instances of true asset recycling in the U.S.

Voters approved several billion-dollar-plus bond referedums before them.

California and Washington sold four large refunding GO deals in the competitive market while several deals of size priced in the negotiated market led by a $650 million for Arizona's Salt River Project. A constructive secondary led yields to fall three to five basis points.

Year-to-date, MIA has seen passengers levels at 113% of pre-COVID 19 levels, boosted by domestic travel, according to a report from BofA Global Research.

"Wokeism" in public finance is an increasingly popular talking point among conservatives.

The upgrade brings Illinois up to the A-minus level across the board. The state had three BBB-minus or equivalent ratings as recently as July 2021.

California Gov. Gavin Newsom announced that he certified the Sites Reservoir Project under the state's expedited environmental rule.

For those of us who study government finance, either for investment purposes or for public policy purposes, complete data sets are far more useful than partial ones that will necessitate ongoing use of legacy PDFs of those issuers that are exempt.