Public finance

This week the market has performed "exceedingly well" with the tailwind of June 1 reinvestment capital, said J.P. Morgan strategists led by Peter DeGroot.

The utility expects the bonds to have an all-in true interest cost of 4.91%.

Ahead of a 14-3 vote to pass the $7 billion spending plan, concerns were raised about new legislation affecting the city's public safety pension funds.

The North Carolina Office of State Budget and Management says the state will have widening deficits starting in fiscal 2026 unless changes are made.

There is still a lot of chaos and uncertainty out there, said Jennifer Johnston, director of municipal bond research at Franklin Templeton.

The bullet train's delays and cost overruns amount to a material project change and event of default under the federal-state agreement, the FRA said.

The Metropolitan Washington Airports Authority is pricing $714.4 million worth of airport system revenue and refunding bonds on Thursday as part of a scheduled sale with an uncertain demand.

City comptroller Brad Lander says there's no legal mechanism to issue bitcoin bonds, whatever Mayor Eric Adams may have told a cryptocurrency conference.

"We're going to get a lot of price discovery with the big deals, a large number of deals, and then a lot of cash to put to work," said Whitney Fitts of Appleton Partners.

A legislative office predicted the tax cut package would lead to a loss of $500 million a year rather than be revenue neutral.