Public finance

A firm representing the Oversight Board also represented firms that acquired a loan portfolio from a board-controlled entity.

Municipals improved for the fifth session in a row with 10- and 30-year triple-A yields falling 30 basis points since Thursday. Connecticut priced $1 billion-plus of GOs and saw yields lowered in a repricing.

A pipeline of projects is building as infrastructure dollars begin to flow to states.

Several major technicals are beginning to improve in the muni market, said Burt Mulford, portfolio co-manager of fixed and strategic income at Eagle Asset Management.

The December 2020 supplemental aid package provided $9.8 billion directly to state departments of transportation, the only direct stimulus that DOTs received.

John Boyd, principal at The Boyd Company, chats with Chip Barnett about how the COVID-19 pandemic and hybrid work has altered the way companies look at cities and states when they think about locations for their headquarters. (20 minutes)

Fixed-income markets have had a tough 2022 but municipal bonds have been among the ones that have struggled the most.

Toll roads, registration fees and mileage-based fees are seen as the most sustainable options for replacing declining fuel tax revenue, but feasibility issues and political pressures complicate the way ahead.

The recommendation would build reserves toward a target of 16% of tax revenues in order to prevent drastic service cuts during a recession.

Given the volatility of risk assets is likely to remain high, and the focus on the flight to safety increases, all fixed-income assets could benefit as a result, including municipals, Barclays strategists say.

The authority will takes steps to raise $1 billion to address expected growth of expenses.

A teachers' request was rejected, but another ruling could force the board to release documents it chose to withhold.

The city of 55,000 is the first to be slapped with the most severe Tier IV designation of the state's Municipal Accountability Review Board oversight program.

Refinitiv Lipper reported $2.712 billion of outflows, bringing the total outflows so far in 2022 to $65.8 billion, surpassing the last largest annual outflows of $63.5 billion during the Taper Tantrum in 2013.

Some worry that governments will use new infrastructure funds for generic, shovel-ready projects, or even tax cuts, instead of collaborative plans that could transform regions.

Panelists at the NFMA 2022 annual conference said they aren’t holding out for advance refunding to be reinstated anytime soon.

The bulk of the first tranches of the $15 billion of IIJA funds will likely be used to figure out where lead lines are located, so states and water systems can determine the scope of the problem.

Chicago's preliminary projected gap in the next budget, when Mayor Lori Lightfoot has vowed to reach structural balance, is down from an $867 million estimate.

Almost $25 million of bond funds provided for school technology and security enhancements to state school districts this year from the 2014 Act.

Illinois' spread penalties widened sharply from the state's last deal, but they landed in lockstep with current trading levels as the state saw healthy demand for its $1.6 billion GO issue.