Public finance

A heavier calendar still will not fulfill the $20 billion-plus of December redemptions. Muni/UST 10-year ratios fell to 74% as the UST 10-year came closer to 1.00%.

Difficulty tracking securities means a harder time for investors to understand their credit risk during the pandemic.

The bipartisan plan unveiled Tuesday by Senate and House lawmakers includes $160 billion for state and local governments, $82 billion for schools, $15 billion for transit agencies, and $4 billion for airports.

Uncertainties loom as Mayor Bill de Blasio’s budget team scrambles to craft the balanced fiscal 2022 spending plan he must reveal by late January.

Refinitiv Lipper reported inflows of net $201 million for the week ending Dec. 2, down from $386 million the week prior.

Moody's downgraded Wisconsin's largest city by one notch due to budgetary pressures.

MDOT will pay $250 million in the settlement, but answers to financial questions, including whether more bonding will be needed, have not been revealed.

West Covina faces shrinking reserves and growing liabilities. Its mayor responds that it is working on solutions, but the pandemic challenges its efforts.

Until supply increases, year-end demand has munis outperforming. ICI reports another multi-billion week of inflows.

Florida’s privately owned passenger train company, which halted service citing the coronavirus pandemic, is bringing $950 million of nonrated private activity bonds.

The governor-elect also plans to appoint Manuel Cidre as secretary of economic development and commerce.

Munis are likely to lag Treasuries in some fashion once year-end empathy settles in mid-month and ratios become a factor.

The Pine Tree State is positioned to withstand revenue uncertainties stemming from the COVID-19 pandemic thanks to healthy reserves, according to analysts.

Although November posted the lowest monthly volume total this year, issuance has already exceeded 2019's total and is on track to set a new yearly record in 2020.

After volume in November came in around $19 billion, the lowest since 1999, investors look to December.

As state and local governments work to apply the California Supreme Court’s rulings, they are also bracing for the next wave of litigation.

Though President-elect Joe Biden has not provided specifics on the financing of his infrastructure agenda, sources say he will take an "all of the above" approach.

The Regional Transportation District will issue $340 million for Denver Transit Partners, the concessionaire of three Denver-area commuter rail lines for RTD.

Michael Chalker, portfolio manager and senior analyst at LM Capital Group, talks with Chip Barnett about the fixed-income markets and the fallout from the COVID-19 pandemic. (16 minutes)

Illinois will borrow $2 billion through the Federal Reserve's Municipal Liquidity Facility to help manage its 2021 budget gap. The state previously borrowed $1.2 billion from the MLF for its fiscal 2020 pandemic hole.