Public finance

Tax risks continue to linger as they are preserved as a potential offset for whatever level of spending all 50 Democratic senators can agree to, but potential approval of the legislation remains a question mark.

The board has long maintained that if the pension laws are allowed to stand, the Plan of Adjustment would not be implemented, scuttling the entire bankruptcy deal.

The Illinois Municipal League will press lawmakers to support giving local governments more time to hit a 90% funded ratio and lowering the target to 80%.

The framework that will guide federal transportation strategy in the coming years does not currently include any financial goals or objectives.

The Build Back Better in its current form essentially has been killed by Sen. Joe Manchin, likely limiting the potential for tax hikes in the coming year.

Sen. Schumer said the Senate would take up Build Back Better "very early in the new year."

Municipal volume is estimated at a lean $558.8 million with $494.7 million of negotiated deals and $64.2 million on the competitive slate. Thirty-day visible supply is at $3.17 billion.

While the U.S. continues to lag pre-pandemic levels, Puerto Rico is now ahead by 2.3% from November 2019.

Pushing the massive bill into 2022 reduces its overall chances of passage but increases the chances of reviving muni-related provisions.

Pandemic or not, major projects must continue, say New York Gov. Kathy Hochul and the Port Authority.

Despite outside pressures, municipal fundamentals are strong with improving credit pictures, issuers flush with federal cash and the ongoing supply-demand imbalance.

The index, which tracks over 2,800 securities, went live Wednesday. While ESG investment considerations have grown around the globe, the muni market is at the beginning stages and there is no universally accepted definition of ESG.

Existing partisan divides and political pressures may influence how the infrastructure act's grants are allocated, one Congressman said.

It marked the 40th straight week of positive flows into the long-term funds and brought the total inflows for this year near $82 billion. Exchanged-traded funds saw $168M of inflows.

A fight is brewing over whether the Oversight Board can preempt some of the territory's pension statutes.

One-shot federal aid and pending labor contracts require budgetary diligence, Scott Stringer says.

Triple-A yield curves were unchanged on the day and mostly have not budged but a basis point in spots since the end of November.

A group of leading automakers want the feds to require states to invest in the fastest EV chargers available.