Public finance

A federal initiative, focusing on states, and eventually, larger municipalities and authorities, that places a premium on enhancing transparency, is fundamental to improving the fiscal health of state and local governments.

Summer redemption season ends Tuesday when issuers return $9 billion of matured or called bond principal, said CreditSights strategists Pat Luby and Sam Berzok.

The disaster in Hawaii highlights the increasing importance of Congress to act on the dwindling budget of FEMA's Disaster Relief Fund.

Following another court ruling on a 2022 labor law the Oversight Board rejected, Puerto Rico professors doubt the local government will operate more responsibly any time soon.

The top two municipal bond insurers wrapped $15.571 billion in the first half of 2023, a 12% decrease from the $17.689 billion of deals done in the first half of 2022, according to Refinitiv data. Insurance was up in Q2.

The investor-owned utility issues tax-exempt bonds through the Hawaii Department of Budget and Finance.

Doty, 81, touched nearly every facet of the public finance industry over his almost fifty-year career.

The Massachusetts Department of Revenue announced fiscal '23's revenue numbers were 4.7% below the previous year's total.

"The recent outperformance has valuations nearing stretched levels again," Birch Creek Capital said in a weekly report. "If USTs reverse the recent trend higher, we would not be surprised to see munis lag during the rally."

Despite looming economic and social challenges, New York City's economy has proven to be more resilient than projected, New York's comptrollers Brad Lander and Thomas DiNapoli say.

The Legislative Analyst's Office says the overhaul of behavioral and mental health systems would come at the expense of services provided by county governments.

Bohner said she hopes to carry on Flynn's commitment to the organization's programming, mentorship program and networking opportunities. 

Another day of mixed inflation data led Treasury yields to rise but munis mostly stayed put after underperforming a UST rally earlier in the week. The market is also focused on the $9 billion of redemption flows coming on Tuesday.

The coastal town of Lahaina is "gone," Hawaii Gov. Josh Green said during a press conference.

Connecticut's baby bond trust received its initial funding without the need to borrow with the help of a debt reserve insurance policy.

Private company Texas Central has pivoted to public funding to support its stalled high-speed rail project.

A $40 billion White House supplemental funding request includes $12 billion for FEMA's disaster relief fund, but critics say it may be safer to consider the measure alone.

Plan of adjustment deadline schedule gets extended to Aug. 18.

New data indicates residents in high tax states are not moving to cut their tax liability.

"The main climate factors expected to influence the 2023 Atlantic hurricane activity are the ongoing El Nino and the warm phase of the Atlantic Multi-Decadal Oscillation, including record-warm Atlantic sea surface temperatures," said NOAA's Matthew Rosencrans.