Public finance

Government says it is unsure how it will be able to make debt and pension payments.

Illinois Comptroller Susana Mendoza will highlight the state's progress on key fiscal metrics during upcoming meetings with the rating agencies and has updated the fiscal 2023 interim audit as the full audited results have not yet been published.

Charles Treece and Azer Akhtar in Washington, D.C., and Jennifer Santangelo in Philadelphia have become partners at Ballard Spahr.

The fund aims to provide capital preservation and use hedging strategies designed to minimize interest rate, event and directional risk.

The SEC has settled with Robert Benecke and his firm Benecke Economics for acting as an unregistered MA in a case that is emblematic of the growing problem regulators and advisors alike face.

The fiscal 2024 General Fund increases 2.5%

For the coming week, investors will be greeted with a new-issue calendar estimated at $304.5 million. This marks the lowest week of issuance in 2023.

The city would issue short-term debt this summer and refund it as part of a long-term bond offering next year.

Buy in starts at $100 and the one-year taxable notes carry a 5% coupon rate. The Green Banks is seeking $350,000 for a green energy upgrade program.

Total volume for the month was $34.436 billion in 744 issues, down from $37.775 billion in 984 issues a year earlier, according to Refinitiv data.

The $107 billion adopted budget for fiscal 2024 maintains a near-record $8 billion in total reserves but doesn't increase them.

States are putting billions of dollars of federal broadband funding to work, with more on the way.

S&P expects improvement although for some borrowers that simply means a reduction in losses, or breakeven to just slightly positive margins.

Triple-A yields rose one to five basis points, depending on the scale, as secondary trading showed cheaper prints and some new-issues had to be cheapened to clear the market while USTs saw larger losses of up to 16 basis points on the three and five year.

The bank would be modeled in part on the Reconstruction Finance Corporation created during the Great Depression, said the bill's sponsor, Rep. Danny Davis, D-Ill.

The Board of Education approved a fiscal 2024 budget amid warnings about the need for more state help to manage a gap of up to $700 million in fiscal 2026.

S&P analyst Anne Cosgrove cited "Kentucky's commitment and execution to strengthen its budgetary flexibility and long-term financial stability."

U.S. District Judge Laura Taylor Swain ordered the Oversight Board propose a new plan of adjustment by July 14.

With the first half of the year ending on Friday, municipal sources say the second half of the year will be off to a good start.

The new toll on vehicles entering large swathes of Manhattan will be a key part of the MTA's future capital plan.