Public finance

Weathering headwinds from the pandemic and energy industry turmoil, the Oklahoma Department of Transportation will price $193 million for highway projects.

Detroit's spreads widened from last deal in 2018 but interest rates were lower thanks to overall bond market conditions.

Collections were ahead of Oversight Board's May projections but behind figures for 2019.

The market will digest the once-again largest amount of new issues in 2020, including some higher-grade state GOs that have been quiet of late. Some participants said a back-up in rates could occur after a mostly quiet week.

Manhattan Institute recommendations include paring back “unusually generous” benefits and transitioning new employees toward a defined-contribution system.

The plan was long held up by GOP opposition to the governor's use of emergency powers to combat the spread of COVID-19 without legislative approval.

The two active municipal bond insurers wrapped $25.22 billion in the first three quarters of 2020, a 62% surge from the $15.57 billion of deals done in the first nine months of 2019.

Illinois' largest county's proposed 2021 budget closes a $400 million hole without tax hike or major layoffs.

Municipals were a bit stronger on the long end Thursday as action heated up in the primary.

As of Sept. 15, at least 49 states, transportation authorities and local governments have publicly projected declining revenues.

Puerto Rico Oversight Board says that National Public Finance Guarantee could do "confirmation discovery" at its own expense.

The state is easing a strict quarantine requirement that has left its all-important tourism industry with very few tourists.

Chris Brigati, managing director and head of municipal trading at Advisors Asset Management, talks with Chip Barnett about what investors can expect in the fourth quarter. He looks at interest rates, the economy and the presidential election and what’s in store in a post-pandemic world. (21 minutes)

Municipals finished little changed Wednesday as a hefty slate of new deals came to market.

Puerto Rico's FAFAA and bond insurer Ambac also call for rejection of a bondholder proposal for deadlines to approve a plan of adjustment.

The Alabama Public School and College Authority will issue nearly $1.5 billion of bonds and most of the deal will be tax-exempt new money.

Detroit is selling $80 million of its speculative grade-rated GO paper with more on tap should voters sign off on $250 million of blight borrowing.

Moody’s Investors Service revised the outlook on its Aa2 rating to negative ahead of the $96 million deal.

Declining occupancy levels at privatized student housing projects are likely to continue into early 2021 as the sector confronts headwind from the COVID-19 pandemic, according to analysts.

Municipals were mostly unchanged with a firm tone on Tuesday, according to market participants, ahead of the week's large new-issue calendar that's heavy on taxables.