Public finance

Fitch Ratings revised its outlook on the city's AA-minus rating to positive ahead of a $1.08 billion general obligation bond sale.

The new relationship allows RIAs to access BondLink's hosted investor relations pages without having to leave InspereX's BondNav platform.

Investors pulled more from municipal bond mutual funds in the latest week, with Refinitiv Lipper reporting $2.446 billion of outflows, though that was down from $2.669 billion of outflows in the previous week.

The territory has to respond to a change in U.S. tax policy that will eliminate a substantial source of revenue.

Affluent, urban communities enjoy a natural edge when it comes to competing with their less-resourced rural peers for the new infrastructure funds.

Valuations look increasingly attractive relative to other fixed income asset classes, even as rising interest rates continue to weigh on the market, strategists say.

Gov. Gavin Newsom's focus on voluntary water conservation has not brought much in the way of water conservation — consumption grew 19% year-over-year.

Outflows continue with the Investment Company Institute reporting $6.167 billion pulled from muni bond mutual funds in the week ending May 4, up from $5.371 billion of outflows in the previous week. 

Referring to the $105 billion California high-speed rail plan, transportation Secretary Pete Buttigieg said the administration continues “to want that project, as we want any project, to succeed.”

New York Dormitory Authority school bonds and Northwell Health priced and upsized, while Wisconsin and Oregon offered general obligation bonds. Analysts say municipal curves are oversold, creating a buying opportunity.

Teachers petition court for a rehearing before the full appeals court panel of judges.

San Antonio and Fort Worth voters approved bonds, while a few school districts stumbled, particularly with projects unrelated to academics.

Mayor Jorge Elorza said the reworked bond proposal was better than the larger one put before the state Legislature last year.

How technology, data and transparency can aid in rough markets. Lynne Funk talks with Stephanie Sparvero of Bloomberg BVAL. (21 minutes)

Despite outsized volatility and liquidity challenges ahead, the possibility of relief for munis is not too far off, analysts say, but USTs lead the way for exempts.

Despite the pandemic, operating revenues increased 7.6% from 2019 to 2020 and 8.25% from 2020 to 2021.

The nomination to the bistate agency comes as the long-stalled project could see its first infusion of federal funds.

The Texas Natural Gas Securitization Finance Corporation picked a team of underwriters to sell debt for utilities hit hard during 2021’s Winter Storm Uri.

Munis again outperformed U.S. Treasuries. Participants note that municipal to Treasury ratios and nominal yield levels are “extremely attractive,” which is generating some renewed interest among the retail crowd.

A national high-speed rail coalition penned a letter to the state's Democratic leaders saying allocating bond funds for the state's high-speed rail project would encourage federal support.