Public finance

Municipals have been distracted by the robust primary market and that trend will continue next week when another large new-issue calendar greets investors.

The board sent mixed signals on a possibility of deal with legislature on pension cuts.

Detroit revised its revenue estimates upward this week as more revenue flows from the reopening of casinos and new internet gambling options.

Several strategists estimate the municipal market will be 50% taxable in five years if a direct-pay bond option makes its way into law.

Majority Leader Steny Hoyer said Friday the House will vote next week on the debt ceiling as well as a must-pass stopgap spending measure.

RBC and two muni managers settled charges of flipping bonds in the SEC's latest action targeting abuse of retail order periods.

Concerns range from frayed infrastructure to better communication in the face of the deadly flash flooding that caught the city by surprise in storm Ida.

The local government is trying to apply pressure on the board to get its way on the Plan of Adjustment.

Refinitiv Lipper reported $1.3 billion of inflows and an increase in high-yield flows, marking the 28th consecutive week the fund complex saw inflows.

Illinois trimmed yield penalties in its latest sales tax-backed sale with spreads of 40 and 45 basis points on its 10-year compared to 89 bp three years ago.

While falling to the lowest amount of inflows since June 2, the total for the year according to ICI at $72 billion, is still on pace to come close to or break the record, $93.2 billion, hit in 2019.

Ridership on the RTA's three service boards remains sharply below pre-pandemic levels but it benefits from coronavirus relief and stellar sales tax performance.

Judge Swain rejected the governor's request to stay the board's suit until November.

The “tool kit” legislation expands powers of the Local Government Commission, including a last-resort legal process for voluntary or involuntary dissolution.

Large new issues from California, New York utilities and airport deals were repriced to lower yields and remained the focus for the municipal market, again ignoring a swing by U.S. Treasuries.

Moody's says Guam needs to be ready to respond to shortfalls.

Market participants welcomed the municipal-related provisions in the reconciliation bill but are hesitant to start making bets on its passage.

The university heads into the market this week with a mix of tax-exempt, taxable, new money sustainability and refunding bonds

While the city has a long history of coping with disasters including the Sept. 11 attacks, the COVID-19 pandemic is a work in progress.

The Long Island utility intends to sell electric system general revenue bonds in three tranches.