Public finance

Munis are now following along with broader Treasury market weakness, and "at the same time are also attempting to manage some of the healthiest issuance that we've seen this year," said Morgan Stanley's Matthew Gastall.

Fishers, a suburb of Indianapolis, is selling $170 million of bonds for an arena to house the minor-league Indy Fuel and to host concerts and other events.

The commonwealth revamped its P3 law last year in the wake of a court ruling striking down a tolled bridge program.

California received a negative outlook from the rating agency in May amid revenue uncertainty. The Public Works Board lease revenue bonds are rated Aa3.

They say the plan is unconfirmable in its current form and must be changed before any disclosure statement is approved.

The top two municipal bond insurers wrapped $22.814 billion in the first three quarters of 2023, a slight dip of 0.5% from the $22.929 billion of deals done over the same period in 2022, according to Refinitiv data.

Royden Durham and Tony Tanner, portfolio managers at the Aquila group of funds, talk with Chip Barnett about what's special about Kentucky and Arizona -- what's the same and what's different -- within their municipal bond markets. (18 minutes)

"The combination of higher yields and this week's heavier new-issue calendar will attract attention from income-focused individual investors as well as from institutional investors who are underweight munis," said CreditSights strategists Pat Luby and Sam Berzok.

As the program inches through the federal appropriation process, Texas lawmakers have allocated state funds and created a five-county district with taxing power.

Current interest rates offer arbitrage opportunities and challenges to bond issuers.

Panelists at this year's GFOA Minimuni Conference remarked on how difficult an environment it is for issuers and why recognizing this is essential for voluntary disclosure.

As valuations got richer after muni outperformance this week, Barclays strategists expect munis to be "truly tested in the next several weeks, with supply picking up."

The recent rise in yields has created an opportunity for those investors waiting to "jump into the market," said Roberto Roffo, portfolio manager at SWBC Investment Company.  

Analysts discussed proposed changes to its metrics that will be finalized in January. An estimated 35% of ratings could experience upgrades or downgrades.

Loss of aid could hurt the islands' economy, a local senator says.

Despite the sticker shock of rising rates, yields in fact are at average levels for over the last 30 years, panelists said at the GFOA's MiniMuni conference.

In January 2022, mobile sports betting went live. With a 51% tax rate on gross gaming revenues, New York, Rhode Island and New Hampshire have the highest gaming taxes in the nation.

A higher inflation figure sent UST yields higher, complicating Central Bank policymaking and reversing a flight-to-safety bid amid ongoing geopolitical turmoil in Israel.

An EPA investigation will focus on potential discrimination against Black communities in the distribution of wastewater improvement funds following complaints from public advocacy groups.

The California governor is this week signing bills to alter the state's mental health policies in a package that includes a $6.3 billion state bond measure.