Public finance

The revenue bonds, which would help finance a bigger convention center to replace the city's current facility, would be issued in the first half of 2026.

Municipal bond insurers wrapped $7.316 billion in the first quarter of 2025, a 2.6% increase from the $7.132 billion insured in the first quarter of 2024, according to LSEG data.

Gov. Ron DeSantis wants property tax cuts and House Speaker Daniel Perez wants a sales tax cut as future state deficits are projected.

Moody's based this downgrade on the lowering of the rating of the United States government.

"Light demand" for Wednesday's 20-year Treasury bond auction "propelled yields to the nosebleeds and equities to the basement," said José Torres, senior economist at Interactive Brokers.

California Gov. Gavin Newsom's proposal to speed plans for a second tunnel for the state's water conveyance system is facing stiff opposition from the Delta Caucus.

Chicago's O'Hare airport is in the middle of dispute between United Airlines and American Airlines at a tense time for the airport and airline sectors.

The "risk to the tax exemption appears to have dropped sharply as of last week ... taking with it the hypothetical risk of a supply surge ahead of any end-date for borrowers' exemption access," said Matt Fabian, a partner at Municipal Market Analytics.

Congress needs to lift limitations on tax-exempt private activity bonds, say transportation advocates.

The Phoenix-based university will not have to pay a $37.7 million fine after the U.S. Department of Education dropped its case.

Chicago is "diligently preparing" to sell debt, now that the bond market has mostly recovered from April's turmoil, Chief Financial Officer Jill Jaworski said.

The Municipal Forum of New York presented three awards to industry leaders and veterans at its annual awards and leadership fellows fundraising dinner. 

"We have got to keep the money coming in to transit," said Sen. Elizabeth Warren D- Mass.

Some bills seeking to restrain local government debt issuance are still alive as the Texas Legislature's 2025 session heads towards its home stretch.

"Munis are no longer moving on headlines; they're reacting to rates and supply," which is playing out again Monday after a choppy March and April, said James Pruskowski, chief investment officer at 16Rock Asset Management.

The Federal Open Market Committee will meet on June 17-18. While no rate cuts are expected at this point, things can change quickly. Lauren Saidel-Baker, economist at ITR Economics, provides her take on the meeting the new Summary of Economic Projections and Fed Chair Jerome Powell's press conference.

The bondholders and board faced off over the creditors' belief they they are due the administrative expense claim.

The macroeconomic boost from U.S.-China's 90-day pause on tariffs is partial and could prove temporary, S&P Global Ratings analysts said.

Municipals were cut up four basis points, depending on the curve, through noon.

Pops, a managing director at cfX, a municipal advisory firm serving housing finance agencies, brought passion and institutional knowledge to the sector.