Public finance

In Montana, two school districts and the state government reported that a new state law signed by the governor on May 6 will end the state tax deduction for certain school bonds after 2023 if those bonds are federally taxable.

Arizona and neighboring states are preparing for the first mandatory cuts in water from the Colorado River after 20 years of drought.

A disappointing jobs report gives credence to the Federal Reserve’s concern about slack in the labor market.

Federal coronavirus relief helps the city deal with immediate budget problems, but pensions loom large over the city's post-pandemic fiscal landscape.

The state has allocated $1.3 billion over three years to repair and replace 163 buildings, General Treasurer Seth Magaziner reported.

“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.