Public finance

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.

The calendar includes $4.25 billion of new money and $2.5 billion of refundings and reofferings, New York State's comptroller said.

U.S. Treasury 10- and 30-year yields hit February lows. Large blocks of high-grades in secondary trading led triple-A benchmarks to lower yields by two to four basis points across the curve.

Puerto Rico's government would pay attorneys to represent the interests of bondholders who own less than $1 million of Puerto Rico bonds.

High-yield municipal bond returns are more than 6% so far in the year as Nuveen expands its reach in the sector with a new "interval" high-yield fund.

The Oversight Board filed a suit against a new law that contradicts certain provisions in the plan of adjustment. Gov. Pierluisi says the litigation is not necessary.

With better-than-expected payrolls, economists still caution full recovery is a ways away. Muni participants are closely following how the Fed's action — or inaction — will affect the municipal market going forward.

The $10.1 billion General Fund focuses on operational improvements, Medicaid reform, and enhancing tax compliance.

By contrast to the circus surrounding the Board of Elections, the City Council quickly passed a record $98.7 billion spending plan drama-free.

Board says all the objections to disclosure statements are without legal merit or should be addressed at the plan of adjustment confirmation.

Gilt-edged munis fell as much as two basis points Wednesday as the month ended and the first half stats were put into the record books.

The Board of Elections acknowledged a major error in Tuesday's update. Outgoing Mayor Bill de Blasio and the City Council, meanwhile, are finalizing a $98.7 billion FY22 budget.

While June was lower than 2020 in par, pandemic-related factors skewed last year's issuance totals, making the $42 billion issued this month high on a historical basis. Outside factors, such as federal aid and potential infrastructure plans, may affect issuance going forward.

The U.S. Army Corps of Engineers and Miami-Dade are working on plans to protect against rising seas and violent storms, but will it be enough?

The Metropolitan Pier and Exposition Authority will scoop-and-toss fiscal 2022 debt service and current refund debt for savings as it looks to salve the lingering wounds inflicted by the pandemic.

A majority of the week's largest new issues priced at yields mostly at or around benchmarks as secondary trading did little to move scales. In economic data released Tuesday, the June consumer confidence index climbed, suggesting spending will rebound.

The amended budget bill approved by lawmakers Monday remains opaque on high-speed rail and broad band.

The board said the measures passed by both the Puerto Rico House and Senate would harm the economy.