Public finance

New Jersey's Toms River school district was downgraded two notches by S&P after refusing to adopt a budget and discussing bankruptcy.

The U.S. territory is struggling with debt and pension liabilities as its economy remains weak and federal aid is cut back.

Moody's has downwardly revised the outlook for Baltimore's issuer rating and several classes of bonds due to a trend of declining fund balance levels in a city dependent on a major international shipping port.

Michigan's Great Lakes Water Authority went to market in June with roughly a billion dollars of bonds, part of a complex transaction that included a tender.

School districts across Missouri face uncertainty over certification of their bond measures in light of a statute requiring a precise public notice window.

"Market volatility is likely to pick up, but the latest development does not constitute an escalation in the trade war," according to UBS strategists.

The dueling lawsuits underscores the need for alternative dispute resolution in public-private partnership contracts, said a P3 attorney.

Without the increase U.S. Virgin Islands matching funds bonds would have defaulted in the next few years, some observers said.

The markets are waiting for the Federal Open Market Committee to make its next move.

A New Jersey school district will likely avoid filing for bankruptcy after the state passed a budget that raised property taxes. 

Markets are "tilting to a risk-off posture as participants brace for the chance of Trump tariff-sparked turbulence in the coming hours and days," said José Torres, senior economist at Interactive Brokers.

The policy shift may crowd out some projects, warned Baruch Feigenbaum, senior managing director of transportation policy at Reason Foundation.

JP Zaptin has joined Baird where he will establish a municipal trading desk

Moody's expects enplanements at the facility will remain below the low end of its former projections.

New Hampshire Supreme Court found that the state doesn't spend enough on education, but upheld the education property tax system.

As it fights with the state over funding, the board of the Toms River Regional School District refused to raise taxes and threatened a bankruptcy filing.

The Alpine School District deal will finance school buildings in a part of the district that will be split off into a separate entity in July 2027.

The county commission said it hopes to regain Moody's ratings this fall.

UST yields rose across the curve in response to the employment report with the two-year rising nearly 10 basis points while municipals largely ignored the moves and ratios fell as a result.

Oregon Department of Transportation leaders said they will begin layoffs Monday after lawmakers adjourned without passing a transportation funding bill.