Public finance

The training camps will focus on 30 grant programs in the infrastructure law that carry the biggest bang for their buck and allow cities to apply directly to the feds.

A court-ordered modification of the plan is more likely than outright rejection, sources say.

"I think this deal is kind of like football in the pre-season," says County Comptroller Kevin Hardwick. "We're looking at this new issue as a run-up to next year — the big event — when we hope to be bonding for our new stadium for the Buffalo Bills."

Massachusetts had temporarily delayed the $2.7 billion sale as state lawmakers debated additional funding for the state's unemployment trust fund.

Pressure on the short end of the muni curve is being exacerbated by a 3.24% two-year Treasury note, from a correction to floating rate notes and dealer positions.

The bulging surpluses are a result of $5 trillion in economic stimulus from the federal government including American Rescue Plan Act (ARPA) funds which boosted economic activity and tax revenues.

The debt issued through conduit Gallatin County, Montana, benefits an aerial firefighting company that went public through a SPAC weeks after the bonds sold.

The $2.2 billion will be divided evenly between urban and rural communities, with 75% going to projects in poor or disadvantaged areas.

Chicago projects a $127.9 million gap looms in 2023. That's down from the $306 million projected in May and the $867 million from last year's forecast for the coming year.

The Investment Company Institute reported investors poured in $1.589 billion into muni bond mutual funds in the week ending August 3, the highest level since November.

She expects $50 million more in revenues in fiscal 2023.

All states hit the Aug. 1 deadline to submit electric vehicle charging station plans to unlock the first piece of funding in the federal infrastructure package.

Several large new issues priced. Municipal yields were little changed, U.S. Treasuries were weaker on the short end and stocks ended in the red ahead of the much-anticipated July inflation figure.

Detroit says it can't afford to shave 10 years off the amortization schedule of its public safety pension obligations.

Weekly supply is holding below $5 billion, reinvestment needs are still in effect from large redemptions and fund flows are leaning more positive, noted FHN Financial's Kim Olsan.

Moody's revised Cook County, Illinois' outlook to positive ahead of its mix of sales tax-backed and general obligation bond deals.

Investors will be greeted Monday with an increase in supply with the new-issue calendar estimated at $5.941 billion, up from total sales of $1.700 billion.

Expected voter turnout for the midterm election will likely compel other cities to join Ontario, California, in placing tax and bond measures on November's ballot.

Political infighting ahead of November's local elections have left the finances of the state's capital in disarray and show no signs of abatement.

The indictment of Wanda Vázquez is the latest in a series of corruption charges against Puerto Rico politicians over the last 18 months.