Public finance

U.S. public finance entities could see heightened "cyber reprisals" by Iran and its proxies amid the continuing conflict in the Middle East, with these attacks from state-sponsored actors, hacktivist groups, and lone wolves likely to become more frequent, Fitch Ratings warns.

Gov. Mike DeWine pointed to fiscal successes including a balanced budget, lowered taxes and a larger rainy-day fund.

This week, "look for deals to get priced to attract demand," said Pat Luby, head of municipal strategy at CreditSights, and Wilson Lees, an analyst at the firm.

The rules could lengthen the procurement timeline for some projects.

The 10th annual event, which was originally scheduled for Oct. 1, will take place next week with the participation of some key city officials.

Such a bank would be a "revolving financing tool that allows us to stretch dollars further, leverage federal programs without surrendering control, and deliver more projects without raising taxes," Gov. Jeff Landry said. 

Lucas Janda and Eduardo Cabrera have joined Nickel Hayden Advisors, bringing its staff of registered municipal advisors to seven, the Austin, Texas-based firm announced.

A detailed plan for issuing the bonds, which will be backed by an extension of a 1% special sales tax, is expected by May 15.

MBIA Inc. used National Public Finance Guarantee and MBIA Insurance to "perpetrate a fraud on investors," the COFINA bondholders said.

Many muni participants stayed on the sidelines to start last week due to "the sudden about-face in the Treasury market and uncertainty over how long-lasting the incursion would be," Birch Creek strategists said.

The GASB is looking for comments on its upcoming technical agenda while rolling out a series of videos aimed at helping stakeholders understand government financial reports.

The latest research from The Bond Buyer predicts supply and issuance volume will grow in the months ahead.

The New York Metropolitan Transportation Authority says it has shaved more than $4 billion off construction costs in five years.

The offer was revealed in a disclosure statement and plan of reorganization in the Chapter 11 bankruptcy.

"We are still not overly concerned about the effect of the geopolitical concerns on municipals — in our view, the muni market is well insulated," said Barclays strategists.

A state judge ordered the Arizona Legislature to enact a system for funding public school facilities that is constitutional and set a timeframe for compliance.

Brightline asked S&P to withdraw its rating after the latest downgrade.

Ratings analysts have thrown out warning flags about California schools, but a buyside analyst says they are a good investment.

Market technicals should weaken this month in line with seasonal expectations, with estimated redemption capital of $32 billion compared to estimated supply of $41 billion, said Appleton Partners strategists.

The New Jersey Turnpike Authority will build a bridge half the size it once planned, providing budgetary savings of $4 billion.