Public finance

The Federal Reserve must be prepared to move if inflation continues to surprise to the upside, according to one Fed president, while another again stated a desire for the Fed to pull back on its accommodation.

L.A. Metro broke ground Monday on the long-awaited train station that will connect Los Angeles International Airport to the city's transit system.

Toll roads suffered tremendously from dips in traffic associated with the COVID-19 pandemic.

The city council is considering the city's budget, which gave preliminary approval to a roughly $5.2 billion spending plan that allocates $156 million for violence prevention programs. Council members expect to vote on the budget Thursday.

Puerto Rico's government tells the court the Disclosure Statement should address the likelihood the legislature will not approve new bonds for the plan of adjustment since the plan cuts pensions.

The short end of the yield curve faced pressure from a cheaper UST five-year. As the flattening trend in UST takes hold, demand for duration will also spill over into the tax-exempt space, with long-dated munis continuing to outperform, analysts say.

The Justice Department analysis was released Wednesday in conjunction with a House Natural Resources Committee hearing on two competing bills aimed at determining the territory’s future.

Mayor Jorge Elorza’s $850 million POB proposal sits stalled in the state legislature while state General Treasurer Seth Magaziner called the legislation too risky.

Refinitiv Lipper's $1.85 billion of inflows say investors aren't going anywhere.

The roughly $1 trillion bipartisan plan would rely heavily on municipal financing tools to achieve $1 trillion in investment with any new federal taxes.

Some lawmakers in Washington during infrastructure discussions have proposed repurposing some of the $350 billion of American Rescue Plan Act relief funds allocated to state, local and tribal governments. This would be a mistake.

The group is also urging Congress to enact enhancements for aggie bonds and industrial development bonds.

Also on Wednesday Judge Swain said she would not send out the central government bankruptcy's disclosure statement until she was satisfied with it.

The Investment Company Institute on Wednesday reported $2.533 billion of inflows into municipal bond mutual funds, the highest since February.

If the market holds, the state could also receive the lowest recorded true interest cost in its history of general obligation bond sales.

Tuesday’s data may not be indicative of where the economy is going and will likely be written off by the Federal Open Market Committee at its meeting, analysts say.

Court approval for the settlement that resolves claims against the state for its role in the poisoning of Flint residents looms this summer.

Most analysts expect the Federal Open Market Committee will alter its Summary of Economic Projections and perhaps begin to talk about tapering, without offering clues when they'll begin cutting back on asset purchases.

The state sued after the Trump administration canceled federal funding already approved for the project.

Now the fifth largest bank in the U.S., PNC will expand its banking and capital markets activities across the Southwest and Western regions.