Public finance

The Puerto Rico General Fund has paid out $1.5 billion on the bankruptcies after initial expectations were $370 million over nearly a decade.

In other asset classes, there has been more transparency, activity and efficiency due to electronic trading. The muni market has been behind in realizing how beneficial electronic trading can be, sources said.

Municipalities are facing a deadline to obligate COVID-relief money.

The Uinta Basin Railway, which aims to transport crude oil, is eying up to $2 billion in private-activity bond authorization.

Municipal bond issuance in the Far West was down 2.3% in a first half that saw volume drop 17.1% nationally.

"The improved rating outlooks are critical for the Power Authority to ensure that we can continue leveraging the capital markets," said NYPA President and CEO Justin E. Driscoll.

A state-by-state review of first half 2023 issuance in the Southeast.

Supply scarcity is helping the market through the Treasury volatility. Bond Buyer 30-day visible supply currently sits at $4.72 billion.

The region's issuers sold $30.3 billion of municipal bonds in the first half of 2023, 29.9% less than they did during the same period last year

The $1.4 billion span would mark the second major bridge that the two states have built together following the $2.6 billion Ohio River Bridges project that opened in 2016.

The rating agency cited the Illinois county's accumulated reserves, as well as required pension contributions for the move.

The Tax Cuts and Job Act will be up for renewal by the winners of the next election cycle

A state-by-state review of first half 2023 issuance in the Midwest.

Tuesday's competitive new money sale is to be followed with a negotiated refunding deal later this week.

This week's new-issue supply needs to be "priced to sell to pique investor interest," said noted Nuveen's Daniel Close and Anders S. Persson.

The state did not rule out a future public-private partnership but said it's current focus is on public funds.

José Pérez Riera will fill the post that has been vacant for over three years.

The budget impasse is closely watched by cities, colleges and other government entities that receive federal aid.

Mainly attributable to high inflation and increasing interest rates, costs have been increasing for retail sized trades but remained steady for institutional sized trades.

Issuers in the Midwest sold $32.6 billion of debt spread over 1,223 deals in the first half, down from $40.5 billion a year earlier.