Public finance

The nation's top court may well have to weigh in on the constitutionality of the strings attached to the federal pandemic aid.

The Hall of Fame initiative celebrates individuals whose careers have left an indelible mark, while the Rising Stars program recognizes the muni finance leaders of tomorrow. The 2023 classes will be revealed the week of August 7.

Investors will be greeted Monday with a new-issue calendar estimated at $4.064 billion.

The collapse of Silicon Valley Bank and Signature Bank clouds the economic landscape and complicates monetary policy decisions but it's a long way off from the troubles banks and broker-dealers faced in the 2008 financial crisis.

The school district's AA-plus rating is supported by strong reserves and Houston's economic strength, S&P Global Ratings analysts said.

Outflows continued as Refinitiv Lipper reported $461.123 million was pulled from municipal bond mutual funds in the week that ended Wednesday after $307.815 million of outflows the week prior.

President Biden's budget would allow large transit agencies to divert formula capital grants to operations in 2024, a move that one transit official said may hurt smaller agencies.

OTA has come under increased scrutiny as it embarks on a $5 billion, bond-financed project that has been challenged in court.

The collapse of Silicon Valley Bank and Signature Bank won't impact the Fed or the market enough to cause rates to drop and refunding volume to significantly increase, according to muni experts.

Finding matching dollars, politics, and competition turns up the heat on state officials.

The ratings agency says enplanement levels is key to the action.

Holders of COFINA subordinate bonds are seeking compensation from the U.S. government, claiming their property was taken without just compensation.

Thirty brokerage firms overcharged for the Santa Rosa bridge bonds after relying on data vendors who provided incorrect factors to determine the price.

So far 12 states have enacted ESG statutes with 67 pending statues in 28 states, according to the Morgan Lewis law firm. Florida's anti-ESG bill goes farthest.

"The derailment has caused substantial damage to the regional economy of the state of Ohio, its citizens, and its businesses," the lawsuit filed by Ohio Attorney General Dave Yost charges.

"The main question for investors recently has been: will we see bank selling of municipals that exerts pressure on the market, and what kind of market effects could occur," Barclays strategists said.

The fall of Silicon Valley Bank is forcing regulators to take a closer look at asset structure and the integrity of depository institutions, which will likely include the issuers of securities.

The MSRB intends to file proposed amendments to Rule G-12 on uniform practice with the SEC and move forward with draft amendments to Rule G-32 on primary offering disclosures.

"The muni market is no different than others, where fear and greed drive the trends," said Peter Delahunt, StoneX's managing director.

While other issuers have suffered ratings hits or had them withdrawn, California's ratings have not been impacted by its now perennially late ACFR.