Public finance

The Bloomberg Municipal Index is at positive 4.06% as of Friday. Bloomberg indices show high-yield returning 4.17%, taxable munis returning 4.38% in November while the Impact Index is at positive 4.66%.

In the letter addressed to House congressional leaders, members urged leadership to expand the affordable housing credit and lower the PAB requirement.

At stake was the treatment of nearly $1 billion of Puerto Rico bonds and notes.

The developer is seeking as much as $230 million of bonds issued by a community facilities district to pay for cleaning up a landfill and improving infrastructure for the $2.1 billion multi-use project.

Markets took the news that it will soon be appropriate to increase the Fed funds target rate at a slower pace as good news.

The rating agency raised the system's subordinate-lien general airport revenue bond rating to A-plus from A with a stable outlook amid increased enplanements.

A separate report showed the state's workforce declined by 1% between 2011 and 2021 while the workforce increased 5.1% nationally during that time frame.

Lower supply in 2022 has somewhat helped the market avoid larger losses, many participants have said.

PREPA bondholders' filing cites the Bankruoptcy Code, the PREPA Trust Agreement and other documents.

Airports, schools and affordable housing received an infusion of cash from lawmakers

KBRA said the upgrade reflected the airport's large and growing service area, anchored by Miami, which is a vibrant center for tourism and trade.

The Bond Buyer's senior regional reporters hold a roundtable discussion on the midterm elections. Caitlin Devitt, Yvette Shields, Karen Pierog, Keeley Webster and Thomas Nocera talk about implications for the municipal bond market. Chip Barnett moderates. (30 minutes)

The Nov. 8th ballot in Midwest states was crowded with bond, governance, and policy questions.

"An increase in social distancing and remote work has resulted in growing vacant office space since late 2020. Office rents have also trended down and remained depressed into 2022," according to the Popular Annual Financial Report.

Had the teachers' challenge succeeded, the cost to Puerto Rico could have been $1 billion. A challenge to the plan from credit unions is before the First Circuit Court of Appeals.

The negotiated calendar this week is very light due to the Thanksgiving holiday, with only four deals above $100 million.

Fitch and S&P downgraded the city as it grapples with rising costs, limited revenue prospects and a looming pension funding spike.

Issuance shrinks to $722 million while Bond Buyer 30-day visible supply sits at little more than $7 billion.

A combination of federal funding and rising tax collections has filled the coffers.

Nathaniel Singer, who has nearly four decades of experience in municipal derivatives and advisory space, has joined PFM.