Public finance

Depending on recovery, state's deficit could soar to $126 billion.

The Puerto Rico Oversight Board and local government are being allowed to file additional replies concerning lift stay motions.

IRS General Counsel Michael Desmond said Wednesday his office has received “a number of requests” for extending deadlines.

In the midst of issuer credit deterioration due to coronavirus, muni yields fell and new-deals were priced on the heels of California's $54 billion deficit news.

The city will ask the Louisiana State Bond Commission to authorize issuing up to $100 million of revenue notes.

The Puerto Rico government attributes the decline to the COVID-19 virus and the governor's resulting lockdown order.

Primary deals are now coming at tighter spreads to the secondary than they have recently. Cooler heads are appearing on the institutional side, but ICI reports $1.7 billion pulled from muni market mutual funds.

This year's award recipients are New York City Comptroller Scott Stringer, city Deputy Director for Finance Alan Anders and Jefferies banker Kym Arnone.

One of the bills authorizes $17 billion in new federal authorization to invest in water infrastructure as municipalities grapple with coronavirus’ impact on their water systems.

The city comptroller is monitoring the markets amid a projected $8.7 billion revenue gap and a possible 22% unemployment rate by the end of June.

The lowest-rated state government moved a $1.2 billion GO certificate deal to the day-to-day calendar in the face of a skeptical buyside.

The case that has the potential to upend legal precedent about how public pensions are treated in California.

Two credits struggling with coronavirus-driven revenue shortfalls experienced very different outcomes in Tuesday's market. Taxable Penn State bonds showed the appetite for taxable munis is real.

Weak investment returns, assumption changes, and low contributions pushed up the cumulative unfunded liabilities of 11 local government pension funds.

Howard Cure, director of municipal bond research at Evercore Wealth Management, analyzes New York State’s $177 billion 2021 fiscal year budget and the impact of major fiscal uncertainties stemming from the COVID-19 pandemic. Andrew Coen hosts.

A premarketing wire indicated the deal could price at spreads 300 basis points north of benchmark yields. In Monday's trade, the rally begun last week continued.

The pandemic will damage the territory's ability to make debt payments it had previously expected to fund through fiscal 2025, according to a new fiscal plan.

The Texas Transportation Commission also signaled plans to move full-speed-ahead with a $3.5 billion highway project in Austin.

The court filings could directly impact about $6 billion of bonds and $15 billion more indirectly.

Taxable munis hold the distinction as being the largest positive sector year-to-date, up 2.81%. High-yield has been hammered, losing 10%.