Public finance

Judge Swain on Wednesday will consider the Oversight Board's proposal to commence litigation on creditor claims.

Improved commitments to pension funding, coupled with other changes to the two states' retirement systems, have yielded bond rating upgrades for both.

Municipals saw more cheapening on the short end Friday as selling pressure persisted all week.

Brad Lander says using municipal bonds could be one way to help move recent immigrants into mainstream society and provide a long-term economic boost to the city.

Puerto Rico's Fiscal Agency and Financial Advisory Authority said it "is available to assist the municipalities, as financial advisor and fiscal agent of the Government, on any restructuring that it deems necessary."

Opponents say the legislation could prompt issuers to drop out of the public bond market while supporters say investors and regulators deserve standardized financials.

"Everyone is trying to figure out when the outflow cycle is over," said Craig Brandon, co-director of municipal investments at Eaton Vance.

But governor and an analyst caution about appropriating "excess revenues" before an audit.

The program received more than 250 applications for $26.5 billion worth of projects across the country.

The Investment Company Institute reported $2.034 billion of outflows from muni bond mutual funds in the week ending Sept. 7 compared to $2.594 billion of outflows the previous week.

The statement could be interpreted as also suggesting a restructuring of $242 million in bonds.

A whopping 91% of Bond Buyer California Public Finance Conference survey respondents expect municipal interest rates will end the year higher than current rates and 73% said rates will have the largest impact on the public finance industry in the next two quarters

Muni and UST yields surged Tuesday on expectations the Fed will have to aggressively raise interest rates to bring down inflation.

Detroit revised its general fund estimates upward for the current fiscal year at its latest estimating conference Monday.

The Skyway sale "proves that sophisticated global investors who can buy assets anywhere view Chicago as a great place to invest," said a spokesperson for Mayor Lori Lightfoot.

Fiona Ma delivered speeches Monday at The Bond Buyer California Public Finance conference and California Debt and Investment Advisory Commission pre-conference.

Monday's opening panel of The Bond Buyer California Public Finance conference in Los Angeles was an insiders' look at muni market challenges and opportunity.

Even after investors received an infusion of $18 billion of matured and called bond proceeds on Sept. 1, muni prices have continued to weaken, note CreditSights strategists Pat Luby and John Ceffalio.

Removing the passenger facility charge cap of $4.50 would provide airports with more flexible and consistent funding options to help them become more self-reliant, a Reason Foundation study said.

The calendar for the week of Sept. 12 is at $6.6 billion while Bond Buyer 30-day visible supply sits at $14.15 billion.