Public finance

For 35 weeks in a row, investors have put cash into municipal bond funds as Refinitiv Lipper reported $603 million of inflows while high-yield funds eked out a gain of slightly more than $1 million.

The municipal bond market is closely watching proposals from the House and the Senate to overhaul the SALT federal deduction cap.

California faces a $117 billion highway repair backlog and the highest gas tax in the country. The question is whether the fuel-tax funded SB 1 is doing enough.

While the economy is stronger than a year ago, it is still down from two years ago.

After the FOMC made taper official, high-grade benchmark yields ended the day one to three basis points better while USTs ended the day higher after an up-and-down trading session that moved the 30-year back above 2%.

The biggest bond measure in the nation Tuesday appears to have passed narrowly, but Texas voters took a negative view of several big bond proposals.

A study by the Reason Foundation attempts to solve the problem of paying both tolls and fuel taxes on the same highway and offers a blueprint for how states can allocate toll revenue.

Puerto Rico bankruptcy judge approved the board’s plan to notify parties of pension limitations, a key to allowing the Plan of Adjustment to move forward.

Voters in Virginia also decided the fate of several large bond referendums while Atlanta voters will see a mayoral runoff at the end of the month.

Most bond issues appear to be approved, but many were rejected.

The FOMC will likely take the opportunity to profess its reliance on data to decide liftoff and reiterate the threshold for a rate hike remains higher than for taper.

The Illinois State Toll Highway Authority plans $600 million of borrowing next month and $500 million next year as its 15-year-old capital program remains in full speed ahead mode.

Chuck Stavitski and Elaine Brennan of Roosevelt & Cross and Ken Bieger of the Niagara Falls Bridge Commission talk about how the Canadian border closing due to COVID-19 affected upstate New York issuers. Chip Barnett hosts. (16 minutes)

The board wants the bankruptcy judge to say recently passed law, which prohibits cuts to pensions, does not bar the board's plan for two major pension changes.

Though monetary policy has been in the forefront, at mid-month the tone changed with global inflation outlooks and federal infrastructure and social package in flux.

A new program would pump $5 billion of loans into the state's ports.

Texas voters are considering an array of local bond measures to fund projects for schools, cities and counties.

The popularity of cryptocurrency may drive investment by public pension funds.

A lighter, $5 billion calendar, heavy on healthcare, kicks off November. Most participants agree volatility in U.S. Treasuries will be a leading factor for municipal market performance. Uncertainty in Washington also isn't helping the asset class.

The various increased federal support proposals included in the Build Back Better package could help the island's economy, which has generally been contracting for the last 15 years.