Public finance

While acknowledging the critical assistance in the federal relief bill, yet in anticipation of the uncertainty ahead, further Congressional action is essential to provide state and local governments with additional tools to manage debt programs to meet the needs of their constituents.

The 'pension' bondholders have reached a preliminary deal with the Puerto Rico Oversight Board.

The Investment Company Institute reported outflows from municipal bond mutual funds but inflows into exchange-traded funds. The February consumer price index came in as expected, while the core was below expectations, and analysts expect bigger rises ahead.

S&P moved Illinois' outlook to stable from negative amid revenue numbers that beat pandemic-driven low expectations. The rating remains the lowest among states.

Munis were stronger across the curve as secondary trading was constructive and bellwether credits moved yields lower.

The plan and disclosure statement indicates only some of the terms for the HTA, CCDA, and PRIFA rum tax bonds.

The creation of the Municipal Liquidity Facility helped not only eligible entities but also those left out of using the program.

The pandemic has caused some special circumstances for state and local governments in juggling their finances. Jeffrey Previdi, the vice-chairman of the Governmental Accounting Standards Board who spent more than 20 years of his career at S&P Global Ratings, talks about what his regulatory organization has done to assist them. Previdi also talked about how GASB influences how state and local governments spend taxpayer money on such things as schools, firehouses, water treatment plants, and other infrastructure. Brian Tumulty hosts. (25 minutes)

Despite the recent outflows and volatility of the Treasury market, municipal bonds have and should continue to outperform as stimulus from Washington provides some respite.

The museum is borrowing through the tax-exempt market for the first time to finance is ongoing transformation plans.

U.S. Deputy Transportation Secretary nominee and former New York City official Polly Trottenberg called it 'a project of national significance.'

With the reset in yields in the rear view, valuations — especially relative to Treasury — will likely support continued robust demand.

Possible withdrawal of bond insurer support and the opposition of the local government to pension cuts are the biggest hurdles to the plan.

Refinitiv Lipper reported $600 million of outflows from municipal bond mutual funds as the market correction caught up. High-yield funds lost a massive $722 million after $330 million a week prior.

An appeals court ruled that PRIFA and HTA issuers do not have to pay debt service during the Puerto Rico bankruptcy.

Far West municipal issuers sold $99.1 billion of debt last year, a 16% increase from 2019.

Even though the report has been publicly available for more than two years, the Oversight Board is still asked the perennial question: Why didn't we audit the debt? We did.

A year after COVID disrupted the markets, Sylvia Yeh and Scott Diamond, co-heads of fixed income at Goldman Sachs Asset Management discuss their strategies for 2021 and the important role of retail, consider the new regime in Washington, and contemplate where ESG fits into their portfolio as the muni market incorporates the burgeoning investor interest in it. Lynne Funk hosts (35 minutes)

The Beige Book suggests the economy is recovering, with optimism for 6-12 months ahead, while economists don't envision inflation rising enough for the Fed to take action any time soon.

Trade volume increased by just 4% compared to 2019 following a volatile year for munis.