Public finance

Nearly 20% of respondents to a HilltopSecurities high-yield team survey ranked liquidity and equity as their major concern for 2023.

The double-A rated toll agency has two new money toll revenue bond deals on tap for 2023, totaling $900 million.

Daniella Levine Cava, Mayor of Miami-Dade County, Florida, talks with Chip Barnett about the county's robust economy as it recovers from the COVID-19 pandemic. She talks about how the seaport and airport are booming and looks at some challenges ahead such as environmental and housing issues. Taped live in Miami on Dec. 7. (10 minutes)

Munis were unchanged Friday heading into the Christmas hiatus as light trading preceded the early market close, according to Michael Pietronico, chief executive officer at Miller Tabak Asset Management. 

It says its urgent motion was administrative and the objections shouldn't be accommodated.

Oil and natural gas-related taxes and payments are driving projected increases in the state's general fund and stirring concerns about a future revenue drop.

"The good news in this budget is that the MTA has increased its effort to find efficiencies, so that's now a larger portion of the plan. The challenge is that efficiency portion of the plan should be much, much bigger," said CBC President Andrew Rein.

Outflows continued as Refinitiv Lipper reported $3.094 billion was pulled from municipal bond mutual funds in the week ending Wednesday after $1.217 billion of outflows the week prior.

They also want to know why recovery was cut by $2.4 billion since Nov. 8.

The state Department of Transportation said it is temporarily delaying its latest issuance of trunk line road bonds.

The Citizens Property Insurance Corp. wants to have a successor selected before the Florida Legislature convenes its new session in March.

Debt outstanding at state and local public entities totals more than $329 billion, an increase of $61.5 billion since 2017, according to a report by state comptroller Thomas DiNapoli.

Jenine Windeshausen specialized in creating innovative bond transactions during three decades with Placer County.

"A fade in muni prices came on the heels of sovereign debt actions, leaving ratios subject to some correction with just a few sessions remaining in 2022," said Kim Olsan, senior vice president of municipal bond trading at FHN Financial.

"I'm thrilled to have that opportunity to join the team," Patrick McCoy says. "It's a very important project with regional implications. To be part of that team is going to be very exciting."

Arizona's second-largest city reported general fund surpluses in recent years, easing structural budget balance concerns that weighed on its ratings, Fitch said.

The state's benchmark debt ratio for debt service to revenue is at 3.78% — well below a 6% target and 7% limit.

Secondary selling pressure was concentrated most heavily on the one-year Tuesday, but sellers pushed yields higher across the curve by five to seven. Bids wanteds were on the rise again with Monday's total hitting $2.122 billion.

Branding experts argue against ditching ESG. Instead, they say, the finance industry needs to better explain what ESG is.

Nebraska's largest city plans to finance the downtown streetcar project with a mix of tax increment financing and lease purchase revenue bonds.