Public finance

Other post-employment liabilities are more material problems for one in ten state and local governments, according to Moody's Investors Service.

The governor and the Oversight Board had yet to offer an opinion on the increase.

A pair of bond sales coming out of the Carolinas found homes with investors this week as demand for the paper was high.

ReThinkNYC, battling entrenched transit and real-estate interests in its call for a unified network, cites economic development gains and capital savings.

Several cities could eliminate or drastically reduce unfunded pension liabilities, Reason Foundation's Robert Poole found.

Refinitiv Lipper reported $1.9 billion of inflows, high-yield gaining $524 million, the 25th consecutive week of inflows into municipal bond mutual funds.

The board bars implementing a 2020 law and is threatening legal action if the local government does not cooperate.

The Investment Company Institute reported $2.3 billion of inflows, bringing 2021 totals to $67 billion.

Tom Kozlik, head of municipal strategy and credit, Hilltop Securities

Both board members and government officials reiterated their stances on cuts to public pensions — for and against — but neither party said agreements had been reached during the meeting.

While municipals were little changed, broader markets remain focused on Jackson Hole and speculating what will be said about tapering.

John Ceffalio, Senior Municipal Research Analyst at CreditSights, talks with Chip Barnett about what to expect in the second half of the year. He discusses municipal bond market fundamentals, credit and climate disclosure. And he looks at the pandemic’s long-term risks for U.S. cities as the work-from-home culture becomes stronger and how higher education will cope with a new reality. (18 minutes)

U.S. Treasuries gave little direction Monday, holding ratios and yields steady, leading most participants to argue both are satisfactory to ride out the summer.

Community banks have played and will continue to play a key role in supporting local economies across the country. Join us in a lively conversation with Dennis E. Nixon, President & CEO of International Bank of Commerce (Laredo, Texas) & Chairman, International Bancshares Corporation and Eddie Aldrete, Senior Vice President at International Bank of Commerce as we discuss: (1) the need for bankers and the business community to become involved in political issues. From minimum wage and issues that affect small businesses to regulatory issues that directly affect the banking industry, banking and business leaders need to be thought leaders in the public conversation and (2) how bankers can play a pivotal advocacy role in the free trade process.

The MTA budgets 16 months for environmental review of the tolling project for Manhattan's central business district.

Despite a slowdown in June, long-term municipal bond volume is ahead of last year's record-breaking pace with more than $231 million in six months.

Municipal bond insurers are seeing the most business since the global financial crisis of 2008 crushed the sector.

Municipal bonds ended the week unchanged for the sixth consecutive trading session as inflows surged as more than $7 billion is headed to market next week.

Funding would be offered, perhaps for pensions, in exchange for a debt restructuring.

State officials who support the high-speed project are tracking discussions around the “social infrastructure” package for anything rail-related they can tap.