Public finance

Puerto Rico teachers' associations are trying to delay the March 15 enactment of the Plan of Adjustment while they appeal it.

The Turnpike Authority is gearing up bond financing for a $5 billion capital plan, and will pick a team of underwriters and others later this year.

The University of Michigan follows Michigan State this month in joining the club of universities offering 100-year bond maturities.

A controversial tax on fuel exported to other states from Washington refineries was cut by the plan's author after neighboring governors cried foul.

The restructuring is on track to occur March 15, officials said.

The 18-member group will be headed by Eric Scroggins, co-head of debt advisory and restructuring, and Bill Reisner, head of public finance investment banking.

The Investment Company Institute on Wednesday reported $2.637 billion of outflows in the week ending Feb. 23, down from $3.120 billion of outflows in the previous week.

A federal memo on IIJA dollars outlines Biden administration priorities but doesn’t tie states’ hands when it comes to funding, the transportation secretary said.

In a Bond Buyer survey, 57% of participants believe issuance will be less than $475 billion. Additionally, 47% said ESG would have the greatest impact on the public finance industry in 2022.

The Connecticut treasurer also extolled "baby bonds" as a way to improve “racial equity,” narrow the state's gap between rich and poor, and promote economic growth.

The president touted the benefits of last year's Bipartisan Infrastructure Law and American Rescue Plan Act during his first State of the Union address.

The Russian invasion of Ukraine could slow interest rate hikes and has led the market to pull back on the chances of a 50-basis-point liftoff.

Income taxes — despite losses due to remote work — and internet gambling revenue are on the rise, giving the Motor City's general fund a boost.

Recent federal laws have provided municipalities with record levels of funding, but may only have a marginal increase in the number of issuances.

“I want to break ground next year,” Kentucky Gov. Andy Beshear said.

North Carolina Treasurer Dale Folwell talks with The Bond Buyer's Chip Barnett about how the state's economy has remained in financially good health despite dealing with the COVID-19 pandemic as well how the state deals with troubled municipalities. As chair of the debt affordability commission, he chats about bond issuance. He also discusses the ways to reform healthcare and increase transparency. (15 minutes)

The U.S. and European Commission moved Saturday to disconnect Russia from a global financial system.

All markets, but particularly municipals, are in uncharted territory once again, with volatility amplified by the crisis in Ukraine and a still somewhat uncertain path for the Federal Reserve and inflation.

A Michigan House Republican plan would direct $1.15 billion of grants to local municipal pensions that agree to abide by certain conditions.

February volume was $26.481 billion in 594 deals versus $37.052 billion in 981 issues a year earlier, bringing total volume for the first two months of the year to $51.426 billion, or 20% less than 2021.