Public finance

“Our net present value savings were $191.5 million or a record-setting 29%," said North Texas Tollway Authority Chief Financial Officer Horatio Porter.

Refinitiv Lipper reported $584 million of inflows, $341 million of which went to high-yield, as investors pull back on reinvesting to pay tax bills with the May 17 tax filing deadline looming.

An increase to $30 billion from $15 billion on the PAB allotment overseen by the Department of Transportation was one suggestion a House panel heard Thursday.

ESG is here to stay and it matters to investors.

Assured Guaranty and National Public Finance Guarantee gave their support to Highways and Transportation Authority and Convention Center District Authority revenue bond deals affecting $4.6 billion, solidifing their support for the central government deal.

The administration of Gov. Gavin Newsom and the state legislature have separate efforts that would result in increased climate risk disclosure.

The change to monthly from quarterly revenue reports is a positive, the rating agency said, though the ordinance doesn't extend to expenses or cash flow.

Gov. Pedro Pierluisi said the bill was unconstitutional since it undermined contractual obligations with LUMA.

Pennsylvania's competitive GO deal saw its yields fall further from recent trading while the North Texas Tollway Authority benefited from positive credit news on the transportation sector and repriced 25 basis points lower. ICI reported another round of $2-billion-plus inflows.

Alpha Ledger Technologies, which had already done so in its home state of Washington, helped its first Oregon issuer record a municipal loan on a blockchain platform.

Observers say it is the beginning of the end of the central government bankruptcy.

After just one session, the 10-year muni is back below 1% with ICE Data Services and Refinitiv MMD at 0.99% while Bloomberg BVAL is at 0.96% and IHS Markit at 0.95%.

Obtaining substantial new money for green infrastructure is still difficult, and the more innovative the projects, the harder they are to finance. Environmental impact bonds can help.

Regina Egea, president of the Garden State Initiative, analyzes New Jersey's fiscal landscape, including the proposed state budget, unfunded pension liability and deficit borrowing. Paul Burton hosts. (20 minutes)

Inflationary pressures remain high while the manufacturing sector continues to deal with supply chain woes that hold it back, analysts said.

The states intend to come to market with $600 million and $1 billion, respectively, bringing state GO credits in an improving credit environment that has held yields down.

The $8.5 billion on the ballots included $6.5 billion for schools, $1.6 billion for cities, $319 million for counties and $139 million for community colleges.

Rates, ratios and credit spreads have munis entering May on solid footing, though some pressures due to tax season and rising U.S. Treasuries remain.

With federal aid rolling out, the municipal credit picture is improving and issuers are coming to market at a faster clip. An infrastructure package could push issuance levels even higher.

The North Texas Tollway Authority will sell a mix of taxable first-tier and tax-exempt second-tier bonds in the refunding transaction.