Public finance

The Rhode Island Infrastructure Bank will offer $128 million of state revolving fund revenue bonds, and RIHousing will sell $172 million of homeownership opportunity bonds.

Refinitiv Lipper reported $1.87 billion inflows. A solid demand component for the market, but some suggest the move into bonds from equities is more an asset reallocation than investors keen on fixed income.

A speculative-grade deal to build on-campus housing at Santa Rosa Junior College is a first for a conduit issuer operating out of the State Treasurer's Office.

Another $2 billion-plus was reported flowing into municipal bond mutual funds in the latest week, continuing to be a supportive demand component for munis.

The increasing influence of institutional market participants is even stronger in the taxable muni sector, a Municipal Securities Rulemaking Board report finds.

The $1.4 billion seaport revenue refunding bond deal Wells Fargo will price next week will be the largest port transaction since the COVID-19 pandemic began.

That's not a bad idea despite the crumbling condition of a key stretch of the highway, says NYU Rudin Center Director Mitchell Moss.

A federal judge denied Nuveen's motion to dismiss Preston Hollow's antitrust lawsuit concluding a "plausible" claim exists to proceed. PHC faces a tougher legal road ahead in proving its rival orchestrated a damaging boycott.

Municipals are tethered to Treasuries, more so in recent sessions, and have cheapened, but strong technicals — $18.5 billion of net negative supply and large reinvestment needs — still hang overhead.

California's troubled high-speed rail project was not a priority in the bill the Senate passed Tuesday, amid $66 billion targeted for intercity rail.

The legislation passed the Senate by 69-30 setting the stage for House lawmakers to work on it and for Senate Democrats to weigh a social infrastructure agenda.

Deputy budget director David Womack explains what generates investor confidence in the city. Paul Burton and Chip Barnett host. (14 minutes)

Triple-A benchmarks saw cuts of one to two basis points across the curve, but still outperformed two days of UST weakness and have outperformed UST losses since the start of the month.

Even if the Oversight Board can legally approve new debt for the deal, some market participants say the future "willingness to pay" is the larger consideration.

Treasury has already halted the sale of state and local securities, known as SLGS.

Better-than-expected job gains, a rising UST complex and an increase in supply to test municipals' resolve.

Rising sea levels could make catastrophic events such as recent subway flooding more intense and frequent in places including New York and Boston.

The board will say it has treated the creditors fairly, it meets the 'best interest' test for debtors, and its plan preempts dozens of local laws.

Secondary trading petered off into Thursday afternoon, holding triple-A benchmarks steady as most participants await Friday's nonfarm payrolls.

The firm has brought on Kalotay Analytics' quantitative libraries to calculate certain metrics, including average life dates and cash-flow yields for taxable term bonds.