Public finance

Frederick Putnam has joined Texas Capital's government, nonprofit and institutions team as managing director, senior relationship manager.

Among those approved is a $117 million variable rate demand bond expected to be marketed late this year.

Earlier Thursday, the market was "chugging along, doing OK, just kind of nothing, in between slight strength to modest upticks, but the narrative changed when that bank news came out. The market really ran pretty quickly," said Chris Brigati, managing director and CIO at SWBC.

"The project is not dead," said the transportation planning board chair.

Fitch Ratings cited the hospital's growing revenue and other factors in lifting the issuer's outlook.

The city plans a competitive general obligation bond sale, as well as a sales tax revenue bond issue to help finance a professional basketball arena next year.

Metra announced fare hikes in its 2026 budget, part of a broader regional policy requiring the Chicago Transit Authority, Metra and Pace to raise fares.

The city council took action to keep the property tax rate unchanged, a move that could punch a $53 million hole in the fiscal 2026 budget and drain reserves.

"In theory at least, municipal yields should be able to stabilize here; levels remain attractive for pure income buyers while more sustainable constructive fund inflows are just enough to speak for rising issuance in the absence of meaningful reinvestment," said Matt Fabian, president of Municipal Market Analytics.

"If I wanted to target municipal finance, this would be a really good place for me to start," said Omid Rahmani, public finance cybersecurity lead at Fitch Ratings.