Public finance

Investors will be greeted Monday with a decrease in supply with the new-issue calendar estimated at $6.711 billion, down from total sales of $10.318 billion.

Public agencies are often "clients of last resort" for contractors, especially when construction costs are high.

While a smaller population could be economically negative, the revised count lowers the median age, which would be positive.

Investors pulled $229.263 million out of muni bond mutual funds in the latest week, versus the $635.177 million of outflows the prior week, according to Refinitiv Lipper. High-yield continues to see inflows.

The judge said she'd consider requesting changes to the proposed plan of adjustment.

Brightline is building a 168-mile extension to Orlando International Airport of its original 70-mile line connecting Miami with West Palm Beach.

The short end was hammered in the secondary with large blocks of high-grades showing big swings to higher yields while the rest of the curve wasn't spared the damage and triple-A yields rose by seven to 16 basis points.

A county judge ruled that a lawsuit alleging Open Meeting Act violations on the part of the Oklahoma Turnpike Authority will remain in his court unless the state supreme court chooses to exercise original jurisdiction.

Chicago put its message on fiscal progress directly to bondholders at the annual investors conference last week.

It was a busy day in the primary Tuesday, with New York City pricing $950 million of GOs for retail and Miami-Dade County, Florida, and Mecklenburg County, North Carolina, selling in the competitive market.

The city takes competitive bids Wednesday on $124 million of GOs.

Ramirez & Co. and Cabrera Capital Markets, LLC — two Hispanic MWBE firms — are joint bookrunners for the deal, part of Dallas County's sustained push to "maximize professional diversity on the issuance," officials said.

William Glasgall of the Volcker Alliance dives deep into factors affecting state and local budgets. He looks at what the Inflation Reduction Act means, how states are using stimulus money and economic effects of work from home. Caitlin Devitt hosts. (31 minutes)

The mediation team cites progress, but needs more time to reach an agreement.

"Demand for low-duration tax-exempts has been so strong that short maturity benchmark yields are now lower than the after-tax yields for comparably rated benchmark taxable muni and corporate bonds," said CreditSights strategists Pat Luby and John Ceffalio.

Inflation and material shortages are accelerating the P3 trend of bringing in a private team before price is finalized, which could expose investors to cost-escalation risk.

Funding transit infrastructure is one of the county's key initiatives and also reinforces its policy to reduce carbon emissions, increase mobility equity and promote transit-oriented development, says Fitch's Michael Rinaldi.

The two main insurers, Assured Guaranty Municipal Corp. and Build America Mutual, accounted for $17.132 billion of deals in the first two quarters compared to $18.794 billion a year earlier.

New-issue volume grows to $10.7 billion led by a $2.7 billion taxable Massachusetts ESG deal, $1.35 billion of Oklahoma natural gas taxables, $1.25 billion from the Regents of the University of California and $1.1 billion from New York City.

Illinois laid out updated six-year transportation packages allocating more than $30 billion in spending.