Public finance

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.

Shorter-dated and high-yield credit will be more likely to succeed in the current volatile environment.

Investors pulled more from municipal bond mutual funds in the latest week, with Refinitiv Lipper reporting $2.669 billion of outflows, though down from $2.875 billion of outflows in the previous week.

Illinois' latest upgrade is its fourth over the last year and moves its general obligation rating three notches away from the cusp of junk, where it once sat.

Analysts agree with Moody's that the island still faces financial risks.

The infrastructure package features $5.4 billion to fight wildfires. Issuers like California's Yuba Water Agency say the money is a game changer. 

Outflows continue with the Investment Company Institute reporting $5.371 billion pulled from muni bond mutual funds in the week ending April 27. Exchange-traded funds saw inflows at $1 billion.

The local government's bond restructuring law specified the tax was to go to the General Fund starting on March 15.

Joliet closed on two federal WIFIA loans that mark a milestone in the the city's plans to overhaul its water infrastructure.

The recovery is expected to continue this year and into next as the tourism industry looks to surpass 2019’s record-setting year.

Norman Mineta was a transformative force in transportation policy, capable of building bridges across the political aisle.

The state's Local Government Commission approved more than $1.5 billion in bond and financing agreements, including more than $600 million for the airports.

The municipal market was marked by some skittishness among investors on Tuesday as a new month gets underway.

The federal government regulates vehicles, while states generally regulate drivers, an unofficial division that creates confusion.

Opposition to the Oklahoma Turnpike Authority’s $5 billion, bond-financed improvement and expansion project is heating up with a lawsuit seeking to block it filed ahead of a meeting to consider initial financing. 

States face a multi-trillion infrastructure gap, which they need to address with a sense of urgency, a speaker at the Milken Institute Global Conference said.

Holders of $4.3 billion of HTA bonds will receive $1.2 billion of new bonds with 5% coupons and $389 million of cash.

Municipal returns in April were deeply negative, bringing the year-to-date figure to near 9% losses, the largest posted on the Bloomberg Muni Index since its inception in the 1980s.

Texas ballots are bursting with $18.5 billion of bonds Saturday as cities and school districts ask voters to approve 207 bond measures.

The legislative clock is ticking as midterm campaigning ramps up, but the lame duck session offers a fresh opportunity.