Public finance

Federal aid boosts Chicago Public Schools as a sea change in governance looms with elected school board legislation awaiting the governor's signature.

Lawyers for the commonwealth warned that Puerto Rico’s legislature will not pass the legislation for new bonds needed by the plan of adjustment if the plan cuts pensions.

“There’s been a lot of discussion about New York City and its future in the public domain. And when that happens it makes sense to solicit multiple opinions,” said Kroll Senior Managing Director Karen Daly.

A double-digit return will trigger a reduction in the California Public Employees’ Retirement System's discount rate under a risk mitigation policy.

Municipals outperformed U.S. Treasuries for a third sessions moving the 10-year municipal to UST ratio below 60%.

The U.S. social bond market is in its infancy, but there is huge potential for the public sector to contribute to the growth of this market, a CBI report said.

The Metropolitan Pier and Exposition Authority and the Illinois Sports Facilities Authority are heading into the bond market, buoyed by state rating upgrades.

The Oversight Board struck a deal with the main group of the territory’s unsecured creditors, easing the path to final court approval of a debt restructuring.

Most participants expect better performance for munis in the near-term. Longer-term, a lot depends on rates, COVID and other outside factors, such as infrastructure.

Officials from the Westchester County city and ACA Financial Guaranty disagree over who is on the hook for revenue bonds that aren't generating enough revenue.

While municipals hit the pause button Friday, the movement in yields in the first week of July marked the largest one-week decline in 2021.

Pedro Pierluisi proposed two measures as an alternative to Law 7-2021, over which the Oversight Board sued the governor and the legislature a week ago.

Fund inflows are a demand component unlikely to slow during the heavy reinvestment season, keeping the yield environment squarely in issuers' favor.

The Fitch Ratings upgrade applies only to GO debt — the city's issuer default rating remains AA-plus. The GOs benefit from California’s 2016 statutory lien law.

In his lawsuit in state Supreme Court, the New York city comptroller seeks a return of oversight to his office,

The Dormitory Authority of the State of New York overtook California for the most issuance, while New York issuers made up half of the top 10.

More of the same from the FOMC did little to move UST or munis. ICI reported the 17th consecutive week of inflows at $1.98 billion. July is looking good for municipal issuers.

The state's court is weighing whether to allow a public vote on proposed charter revisions that Mayor Mike Duggan warns could trigger a fiscal crisis.

As issuance increased, the top municipal bond underwriters saw their total par underwritten rise by 14.4% from the first half of 2020.

State Treasurer Folwell praised officials in two towns for taking concrete steps to pass responsible budgets and avoid a state takeover.