Public finance

"I got cut," he told The Bond Buyer. "I'm looking for a new job now."

The Police and Fire Retirement System lacks authority to shift to a 20-year amortization of unfunded legacy liabilities from the 30-year term laid out in the city's bankruptcy exit plan, according to a judge's ruling that eases one fiscal pressure point for the city.

Despite a slow start to the week, "buyers are becoming more constructive, and there's increased buying going on," said Pat Luby, a CreditSights strategist.

The Florida Insurance Guaranty Association, which handles the claims of insolvent insurers, plans to borrow $600 million in the municipal bond market.

"His key role in the financial rescue of New York City following its near-bankruptcy in 1975 set Dick on a nearly five-decade path making sure such an event would never happen again in the city and elsewhere," said William Glasgall of the Volcker Alliance.

The board is offering $2.4 billion to all bondholders while $8.5 billion of par value is outstanding.

Some in the industry already use AI to help determine fair bid and offer prices and to summarize new-issue offering statements, but full integration into all aspects of the market is a ways away.

The $6.9 billion new-issue calendar features high-grade deals from Georgia, Washington and Massachusetts, among other frequently traded credits, which should provide direction for scales.

Gov Maura Healey touted new spending on green energy, transportation, and housing in releasing the five-year Capital Investment Plan.

Hope is alive for muni priorities following a Bond Dealers of America visit to Capitol Hill this week.

What's the impact of hybrid work on the city's commercial office market and property tax revenues? It may be less than you think, according to Comptroller Brad Lander.

Moody's boosted CalHFA's rating to Aa2, following a similar move by S&P in December.

The plan includes a bump to public employee salaries and new spending on education.

Municipal bond mutual fund inflows returned as Refinitiv Lipper reported investors added $672.288 million for the week ending Wednesday following $256.532 million of outflows the week prior.

The task force expects to "form sub-groups to address specific pension issues and dedicated revenue as part of a comprehensive and balanced approach."

The upgrades brought the Orange County Transportation Authority managed lanes toll credit to double-A levels across the board.

The plan of adjustment hearing scheduled for late July will be postponed.

The gap next year is up from the $18.2 million shortfall projected heading into the fiscal 2023 budget season but down from the $121.4 million projection in 2022 and the expected near-record $410 million hole that loomed in 2021.

Board asks judge to exclude bondholders' expert testimony and reports from plan of adjustment hearing.

The "act to increase compliance by counties and municipalities that fail to timely submit an annual audit report," was called too harsh by Gov. Roy Cooper.