Public finance

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.

Lawmakers are considering a bill to credit state employees with three extra years of service for work done outside their homes over nine months of 2020.

The economy continues to recover, with durable goods orders and consumer confidence suggesting strength, but concerns about the Delta variant of COVID-19 and continued supply-chain problems cloud the future outlook.

The Oversight Board reached the deal with Ambac Assurance and Financial Guaranty Insurance Company on PRIFA rum tax bonds. The two insurers had been important holdouts from the central government debt deal.

New York City budget director Jacques Jiha says proactive moves such as building reserves helped the city weather COVID-19 fiscal challenges. Paul Burton and Chip Barnett host. (23 minutes)

With municipal yields at exceedingly low absolute levels, the spread tightening between credits also continues.

The IRS is seeking comments on a change that may benefit many issuers.

Preliminary yields in the offering memorandum show spreads of 112 to 169 basis points over triple-A benchmarks, substantially lower than spreads seen in a successful speculative grade PRASA refunding in December.

The last week of July marks a lighter calendar while August redemptions are huge compared to the expected supply. Investors need to get in line and likely accept lower yields and continued historically low ratios.

Bill Glasgall of the Volcker Alliance and Bond Buyer Northeast Regional Editor Paul Burton will explore how states have balanced priorities during the pandemic, and what challenges await.

While the truckers returned to work Thursday night, their union said board interference could lead to a renewed strike.

Out-year deficit borrowing looms after massive federal aid runs out, Chief Financial Officer Robert Foran tells the board.