Public finance

The District of Columbia Water and Sewer Authority is selling $216.5 million of revenue refunding bonds and financing the Clean Rivers Project, a massive effort designed to reduce combined sewer overflows into the local waterways.

A two-year process and a new financing vehicle were needed for the New York Power Authority to price the first prepay energy deal in the state. 

The week was a long-awaited reckoning with record supply, said Kim Olsan, senior fixed income portfolio manager at NewSquare Capital.

The meeting will be held on July 23 and 24.

Randall "Randy" Miller, Chad Miller and Jeffrey De Laveaga were charged by the SEC with creating false documents that were provided to investors in two municipal bond offerings.

The National League of Cities rolled out its annual report showcasing the challenges facing mayors, including the end of BIL funding and a steady diet of uncertainty about the flow of future federal dollars.

The House cuts are less severe than those proposed in President Donald Trump's 2026 budget.

The top suite of firms oversaw deals amounting to more than $139 billion par value across 58% of the market.

Nederland, Colorado, has a plan to issue revenue bonds to finance its purchase of a ski resort that would be turned into a year-round community asset.

Munis are "under pressure as elevated primary supply collides with lackluster seasonal reinvestment flows, leaving dealers heavy and buyers selective," said James Pruskowski, an investor and market strategist.

The Washington, D.C., City Council missed a deadline to approve a plan to build a $3.7 billion NFL stadium as supporters emerge touting the financial structure of the deal.

Atlanta's airport and the rapid transit system have the biggest anticipated capital plans over the next five years.

Two New York members of Congress called them "vulture funds" trying to get "blood out of a turnip" at the expense of Puerto Rico electricity customers.

As the market continues to contend with the surge in issuance, investors still have a significant amount of cash that can be put to work, said Jeremy Holtz, a portfolio manager at Income Research + Management.

Record contributions from public employers made up for below-expectation investment returns, according to a report published by the the Equable Institute.

Hays County will appeal a June 23 court ruling that voided a successful GO bond election while it explores issuing alternative debt to fund road projects.

"Most states do not expect to be able to keep key roads and bridges to a state of good repair," said David Draine, principal officer, public sector, retirement systems for the Pew Charitable Trusts. 

Once considered as a promising prospect for investors, "green" bonds have been plagued by defaults, a concern for those who study the underlying technologies.

A 2024 Illinois law loosened school bond restrictions, allowing districts to authorize some debt without an election. That caused a backlash in one district.

The top 10 underwriters for the first half of the year brought in more than $203 billion across nearly 2,000 issues.