Public finance

Texas reported June revenues improved from May, but still down year-over-year.

UMB claims the bonds for the Kansas hotel project are in default because the developer failed to secure a $52 million loan required by the bond indenture.

The Bi-State Development Agency, which manages St. Louis public transit, took a two-notch downgrade from S&P Global Ratings over the pandemic's impacts.

The Oversight Board welcomed the decisions and one litigant attorney said they would be appealed.

Yields have essentially remained flat since mid-June as the market has digested new issues well and investors are starved for paper, especially tax-exempts.

The New York/New Jersey agency's issuance of $1.1 billion in taxable notes underscores multi-year revenue challenges it confronts due to the COVID-19 pandemic.

Some participants are afraid that tweaking what they don't like in the law could only make it worse.

Transportation officials have spent nearly six years on a Massachusetts Turnpike redesign and an infrastructure merge called the "throat." Time is running short.

Preston Hollow says another court ruling proves some of its defamation claims. Nuveen counters that accusations fail to rise to defamation because many are opinion or true.

Traders and strategists say the dearth of tax-exempt debt and the surge of taxable issuance is keeping the market steady.

Carrión says the biggest problem has been the local government's lack of commitment to structural reforms to benefit the economy.

The House is expected to pass a $1.5 trillion dollar infrastructure package, mostly along party lines, while a bipartisan Senate bill to restore advance refunding may build momentum in that chamber.

While few observers are content with the new balanced budget, many say they can live with it as they look to an uncertain economic future.

A state appeals court rejected the one of the state government’s attempts to eliminate the Miami-Dade Expressway Authority, but the legal battle continues.

Gov. John Carney signed a $703 million capital bond bill for fiscal 2021 that was reduced by $185 million due to revenue losses caused by the COVID-19 pandemic.

Municipal bonds were little changed as the first half of a tumultuous year comes to a close.

Long Island county looks to offset COVID-19-related revenue losses.

New Highways and Transportation Authority plan is more pessimistic about debt-service payment.

The local government's inertia and PROMESA's unwieldy structure, along with natural disasters and a global pandemic, have impeded Puerto Rico's recovery.

New York City's dynamics include closing an estimated $9 billion revenue gap due to COVID-19 and the volatile matter of police funding.