Public finance

Amendment 6, one of twelve proposed constitutional amendments the state's voters will decide Nov. 8, would give local officials more flexibility, supporters say.

Investors will be greeted Tuesday with a larger new-issue calendar, estimated at $6.087 billion, up from total sales of $5.551 billion in the week of Aug. 29.

The board says the law will reduce economic activity and government revenues.

Nearly all construction firms have job openings, and more than half said they're seeing projects being scaled back, postponed or canceled.

The team now wants the option to continue discussions through September.

The MBTA's capital program, which relies on nearly $600 million in annual borrowing, has doubled since 2018.

Judge gives Puerto Rico Oversight Board until next week to submit a plan of adjustment.

The 30-member syndicate plans to begin retail order pricing Wednesday with institutional sales planned for Sept. 8 on the new money and refunding GOs.

The Investment Company Institute reported $755 million of outflows from muni bond mutual funds in the week ending August 24 compared to $320 million of inflows the previous week.

Chicago's O'Hare $1.77 billion offering took center stage this week with the city offering a diverse structure to lure buyers.

Many market players have revised their supply projections downward since rising interest rates have slowed down refunding and taxable volumes and general market volatility has stopped some issuers from participating.

Modeled after New York City's Hudson Yards, the plans call for a high-density urban district with a transit terminal and at least 35% affordable housing.

A three-judge panel reversed a district court's ruling in favor of the city's Firefighters' Relief and Retirement Fund that the law was unconstitutional.

After underperforming USTs last week, "munis have given up their earlier performance advantage for August with both asset classes currently earning virtually the same negative returns," said Jeff Lipton, managing director of credit research at Oppenheimer Inc.

Although he called them "excessive and arbitrary," Gov. Pedro Pierluisi agreed to create a reserve fund, reduce the maximum conservation easement tax credit, and freeze implementation of a physician tax incentive.

Ben Watkins, Director of the State of Florida's Bond Division, talks with Chip Barnett about the latest news coming out of the Sunshine State and takes a look at what's happening in Reedy Creek. He discusses Florida's bonding and debt, infrastructure plans and dives into the state's ESG priorities. (30 minutes)

Fed Chair Jerome Powell's message on rates last week combined with seasonal factors to give the market a "weird" vibe this week, one trader said.

The authority maintained positive rating momentum by drawing outlook changes from Moody's on both its water and sewer bonds and from Fitch on its sewer debt.

Moody's says the cut is a credit negative for the U.S. Virgin Islands' matching fund bonds.

The American Rescue Plan was passed without waiving the Pay As You Go Act, which could prevent municipalities from receiving payments on bonds already issued.