Public finance

Chicago put out pre-marketing pricing scales Tuesday on its STSC new money social bonds and refunding tranches and will take retail orders Wednesday with the pricing set for Thursday.

Demand for muni bonds has slowly started make a comeback, with Jason Wong, vice president of municipals at AmeriVet Securities, saying, "this demand is a welcome sign to the tax-exempt sector as rising yields pushed investors to the sidelines."

Gov. Phil Murphy is behind the push for the Garden State to develop offshore wind power, ramping up from 3,500 megawatts by 2030 to 11,000 megawatts by 2040.

Moody's downgraded St. Mary's College of California to Baa3 with a negative outlook, affecting $53 million in debt issued through the California

Exploring why some call 2022 "the year of the great reset" and what that may mean for the muni market this year.

Janet Mills wants to use $1 billion in federal infrastructure aid and higher-than-expected state revenue to fund billions in transportation improvements.

Volume for the upcoming week is estimated at $8.34 billion, consisting of $6.30 billion of negotiated deals and $2.04 billion of competitive sales.

Hospital margins ticked up in November, but 2022's bruising will linger well into this year straining some ratings.

Underwriting fees generated for the board totaled some $7.4 million, an almost 50% drop from the $14.3 million the board received in 2020.

Legacy Cares, which left construction contractors unpaid and had its bond trustee declare a default event, says a new debt sale will clear up its fiscal issues.

"The overall tone of the budget is one of prudency, which is correct during this current period where federal pandemic aid is winding down and there are questions about whether we enter into a recession," said Howard Cure of Evercore Wealth Management.

Municipal financial advisors saw $304.569 billion of business in 5,935 transactions in 2022, down from the $377.886 billion in 8,611 deals in 2021.

The action affects about $312 million of debt. The outlook, previously positive, is stable at the new, higher rating.

These would be the territory's first general obligation bond issuance since 2019.

California Gov. Gavin Newsom's proposal reverses plans laid out in last year's budget to redeem some bonds and use cash rather than bonds for some projects.

The firm is expected to announce the new muni leadership team next week.

Outflows lessened, with the Investment Company Institute reporting investors pulled $3.157 billion from mutual funds in the week ending Jan. 4, after $3.402 billion of outflows the previous week.

Prager filed with for dissolution with FINRA last month and Dallas, Texas-based HilltopSecurities stepped in to snap up the bankers in a move that will bolster its East and West Coast muni presence.

Missouri Republican Sam Graves, a professional pilot, has said he hopes to achieve a bipartisan reauthorization of the federal aviation budget, a key item for the committee this year.

Most of the blame is placed on overall poor marketplace performance, strict monetary policy, and the war in Ukraine.