Washington

Investors yanked $1.154 billion out of municipal bond mutual funds in the latest week, Refinitiv Lipper reported.

Some public finance, racial justice, and congressional advocates say baby bonds are needed like never before to combat wealth inequality.

The Securities Industry and Financial Markets Association has bolstered its team with the additions of Jennifer Jacoby, Matthew Grinney and Nick Key.

A judge has ordered the state to reconsider its rejection of a bid for a $9 billion P3 for new toll lanes, a move that could delay Gov. Larry Hogan’s priority project.

A bill to prevent tax-exempt financing of professional sports stadiums may become part of a larger tax bill, as further discussions to revive some muni provisions may begin this year.

The proposal would offset all gas tax losses to the Highway Trust Fund but would still hasten its insolvency.

The new-issue calendar for the holiday-shortened week is $4.98 billion, with $3.633 billion of negotiated deals and $1.347 billion of competitive loans.

The Federal Reserve formally adopted tough, sweeping restrictions on officials’ investing and trading, aiming to prevent a repeat of the ethics scandal that engulfed the U.S. central bank last year.

Much of the new infrastructure funding can't flow to states until a full FY22 bill is enacted.

High material costs and labor shortages are expected to persist through 2022 just as states and localities are planning how to spend the Infrastructure Investment and Jobs Act money.