Public finance

Municipals returned 0.83% in July with a year-to-date return of 1.90%. High-yield returned 1.20% in July and 7.40% year-to-date. Taxables led July with 1.65% returns and 1.95% for the year.

The board recommended federal policymakers talk with Puerto Rico’s government about ways to increase pharmaceutical and medical products manufacturing on the island to expand economic development.

Michigan is bringing $855 million of state trunk line fund bonds to market Tuesday for road and bridge projects.

That expansion wholly depends on Washington actually bringing back the taxable product and making it permanent, a diminishing scenario in 2021.

The city sees room for a new convention hotel, despite nearby competition and pandemic-related setbacks.

Muni participants await a new month with growing issuance, but perhaps not quite enough as issuers are hesitant to add more debt before final word from Washington on infrastructure.

July volume was $31.9 billion keeping the annual pace ahead of last year's record-breaking total. Issuance still lags demand by a large amount — $60 billion by many accounts for August alone — as redemptions coupon payments pile up.

Revenues were also ahead through the first 11 months of fiscal 2021.

Detroit Mayor Mike Duggan warns the revisions threaten the city's post-bankruptcy fiscal progress, but the charter commission calls the claim greatly exaggerated.

Federal Aviation Administration approval of the $2.1 billion transit connector revived heated debate over an undertaking that Gov. Andrew Cuomo has championed.

Experts explore the tangible and intangible costs of cyber breaches and potential risk mitigation strategies.

Bankruptcy Judge Swain conditionally approved the Disclosure Statement, moving the Plan of Adjustment closer to a vote, but questions remain on how new bonds for the deal will be resolved.

Washington GOs came at tighter spreads than a spring sale in the competitive market while sizable negotiated deals saw bumps in repricings. Refinitiv Lipper reported $1.4 billion of inflows in the 21st consecutive week.

The district hopes to win back investment grade ratings by raising fund balances, a task that becomes harder after federal coronavirus relief is exhausted.

While the bipartisan deal includes some helpful provisions, it does not contain any of the top priorities of municipal bond market advocates.

The acting New York City Transit president was in line for a board chairmanship had state lawmakers approved Gov. Andrew Cuomo's measure to split the authority's top positions.

The massive summer reinvestment into municipal bond mutual funds continue and are both sustaining the strength of investor demand and solidifying the technical footing of the market.

Municipal issuers are missing the low-borrowing-cost opportunity to finance repairs and modernize infrastructure, says Merritt Research Services.

A bipartisan group of senators negotiating a broad infrastructure deal has reached accord on a plan, the top Republican negotiator said, and debate could begin in the full chamber as early as Wednesday night.

A Moody's report highlights stark contrast in recovery between tourist hotspots such as Florida and metro areas like New York City and the San Francisco.