Public finance

Law firm appoints Robert Labes to head its public and infrastructure finance practice group with hopes for expansion if an infrastructure bill comes to fruition.

Yield-starved investors will help the deal get done, despite credit risks and the island's bankruptcy overhang.

During an industry briefing Tuesday, SIFMA's Kenneth Bentsen, Jr., said no matter who leads the SEC next, SIFMA will argue for an end to a temporary exemptive order.

Deep bondholder losses are expected when the bonds issued for five Better Housing Foundation portfolios in and around Chicago emerge from Chapter 11.

The outlook revision to New York's AA GO bond rating marks the latest hit to a city coping with a rise in COVID-19 cases and financial uncertainties.

The primary's diversity of credits and size relative to November has grown, but it is just not enough to push yields higher as redemptions flood the market. Some analysts still say a mild correction at least is due.

City Administrative Officer Richard Llewellyn recommended laying off nearly 1,000 police officers in a 144-page budget report.

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.