Public finance

Although voters are dissatisfied with the current administration's response to three crises, turnout is expected to be light.

State and local governments have increasingly filed COVID-19-related disclosures to the market, but only about 931 issuers out of roughly 40,000 have filed over 1,500 material event notices and continuing disclosures since the pandemic began.

Some investors expressed concern over the market‘s muted reaction to the country’s depth of effects over the current crises.

The high court unanimously ruled the Oversight Board members do not need to be confirmed by the U.S. Senate under the Constitution’s Appointments Clause.

Maine is planning a $119.4 million bond sale this week to improve roads, broadband, senior housing and public colleges.

State leaders are reluctant to grant New York City more bond capability, and other city leaders want Bill de Blasio to further reduce his proposed spending plan.

Tightening spreads and low yields ended the month as demand for municipal bonds is expected to overwhelm $6 billion in volume heading to the primary.

Bond volume was 4.2% lower than it was a year ago but increased from March and April’s low totals.

Municipal to U.S. Treasury ratios have been a focus for many participants of late. Historically attractive ratios, low supply, and continued fund inflows are creating some strength in the municipal market.

The transportation agency plans a refinancing to combat lost revenue from steep traffic declines during the COVID-19 pandemic.

Richard Taormina, portfolio manager and head of tax aware strategies at JPMorgan Asset Management talks about the effects COVID-19 is having on credits in the municipal bond market and why crossover buyers think this an attractive asset class. Chip Barnett hosts.

Even with the news that New York City is looking to potentially borrow $7B through its Transitional Finance Authority as it faces $9B in lower revenues, the market didn’t blink and TFAs traded firmer.

Illinois lawmakers overhauled the proposed Chicago casino tax structure and awarded MPEA more flexibility to deal with its fiscal woes.

With the latest federal rescue package stalled, New York's mayor has asked state lawmakers to authorize an additional $7 billion in bonding.

Credit concern is being lost somewhat in pricing munis and traders said they are looking for alternative benchmarks, even turning to corporates and U.S. Treasuries to price the market.

GFOA considers a minimum baseline level of reserves to be 16%.

Without federal funding, many toll facilities will be forced to comply with bond covenant requirements, which could mean reductions in workforces and delays in capital projects, toll groups said.

The primary supply for the holiday-shortened week is projected to dip to just over $4 billion, with a mix of tax-exempt and taxable issuance led by Colorado’s $500 million of certificates of participation.

The Unsecured Creditors Committee say that two factors make it clear the current restructuring deal will never be approved.

Denver International Airport plans to apply up to $560 million of existing bond funds to accelerate a gate construction project.