Bonds

Municipals were firmer Wednesday amid another heavy new-issue calendar, led by several large deals that saw yields lowered upon repricing. U.S. Treasuries yields fell further and equities ended up. Issuance remains robust Wednesday with an estimated $5.9 billion, said J.P. Morgan strategists, led by Peter DeGroot. The negotiated calendar was led by $830 million from

The nation’s public transit providers scored a revised Moody’s Ratings’ sector outlook to stable from negative Tuesday as operators adjust to post-pandemic norms and scramble to line up new funding sources. By March 2024, public transit ridership in the U.S. had rebounded to 79% of pre-pandemic levels, surpassing office occupancy rates and suggesting transit agencies

The Federal Highway Administration is under immense pressure to respond to the backlog of requests it has on its emergency relief fund in addition to its specific action on rebuilding the Francis Scott Key Bridge and implementing the goal of 500,000 electric vehicle charging stations across the country by the end of the decade. That

Kansas legislative leaders, who are seeking to coax the Kansas City Chiefs to leave neighboring Missouri, formally invited the National Football League team to join their effort to build a stadium with the help of bonds. In a letter to Chiefs Chairman and CEO Clark Hunt that the Republican lawmakers released publicly Tuesday, they invited

New York Gov. Kathy Hochul is considering delaying the congestion pricing plan to charge motorists driving into midtown Manhattan and potentially replacing it with a tax on New York City businesses, according to a person familiar with the situation who requested anonymity because the proposal hasn’t been made public. The tolling plan, set to begin

With the municipal market’s prized tax exemption possibly in play next year as Congress tackles tax policy, the National Football League is getting into the game by lobbying to protect the financing tool for the controversial and niche stadium market. The use of tax-exempt bonds to build sports stadiums, which have been subject to several

St. John’s Lutheran Church sits three blocks from the Capitol in Madison, Wisconsin, in the heart of the up-and-coming East Washington corridor, where development is booming. Many of the developments cater to a well-heeled clientele, such as the Moxy Madison, a boutique Marriott hotel where weekend rates start at $341 a night. Or Archipelago Village,

A surprise primary result means Puerto Rico will have a new governor next year. Puerto Rico Resident Commissioner Jenniffer González Colón upset Gov. Pedro Pierluisi in the race for the New Progressive Party nomination for governor. The New Progressive Party supports statehood for Puerto Rico. As resident commissioner González Colón represents, without being able to

Municipals were firmer Tuesday amid a busy primary market with several large deals, as U.S. Treasury yields fell and equities ended up. The two-year muni-to-Treasury ratio Monday was at 68%, the three-year at 69%, the five-year at 71%, the 10-year at 70% and the 30-year at 86%, according to Refinitiv Municipal Market Data’s 3 p.m.

The Internal Revenue Service has settled with the Port of Port Arthur Navigation District of Jefferson County, Texas regarding the tax-exempt status of a 2017 $55 million bond issuance.   The issuer disclosed the recent settlement on EMMA Monday, concluding the matter after it was first disclosed months ago. “As a result, there is no change

Municipals were a touch weaker in spots ahead of another robust new-issue calendar. U.S. Treasury yields rose and equities were up. The two-year muni-to-Treasury ratio Friday was at 63%, the three-year at 62%, the five-year at 60%, the 10-year at 60% and the 30-year at 81%, according to Refinitiv Municipal Market Data’s 3 p.m. EST

The Senate Thursday overwhelmingly passed a five-year Federal Aviation Administration authorization that features a 20% boost for major airport capital improvement projects. The bipartisan measure, which had been stalled by negotiations over an ultimately successful move to add additional flights to Ronald Reagan Washington National Airport, heads now to the House, which is expected to

The Virginia General Assembly is set to pass a new budget next week after a saga that saw the state’s Republican governor and the Democratically controlled legislature clash over environmental issues, school funding, and pay-fors.     Although the budget deal still needs to be officially approved during the special session that begins Monday, Gov. Glenn

Chicago’s iconic lakefront is also its portal to water supplies from Lake Michigan, serving not only the city but 120 of its suburbs. But Chicago’s top suburban customer and Illinois’ largest water wholesaler, the DuPage Water Commission, now says it plans to strike out on its own. The commission revealed this week that it has

The long-planned Kentucky-Ohio Brent Spence Bridge won environmental approval from the Biden administration Friday, a “major milestone” for the bistate project that’s been in planning for more than 10 years. “This is an important step forward in bringing efficiency to our nation’s supply chain,” said said Republican Ohio Gov. Mike DeWine. “The project will address one

Current strategies to deploy public and private capital toward a green energy transition are experiencing mixed success, amid conflicting trends as both global oil demand and clean energy deployment rates rise together, according to panelists at the Milken Institute’s Global conference this week in Beverly Hills. “As many folks know, we aren’t doing that well

Municipal Market Analytics said municipal bond impairments from January through April were the highest since they began tracking in 2009, with the charter school sector totaling most impairments. MMA recorded 63 impairments this calendar year, with 59 of them coming in January to April, according to Wednesday’s issue of Default Trends. The four-month total was

Municipals were little changed Thursday as muni mutual funds saw inflows top $1 billion. U.S. Treasuries were firmer, and equities ended up. The two-year muni-to-Treasury ratio Thursday was at 64%, the three-year at 63%, the five-year at 61%, the 10-year at 60% and the 30-year at 82%, according to Refinitiv Municipal Market Data’s 3 p.m.

The New York Metropolitan Transportation Authority has said for years that its congestion pricing plan is crucial to its budget. In a new debt profile report, the New York State comptroller backed the MTA up.  Comptroller Thomas DiNapoli’s report questioned the MTA’s delayed capital plans, expensive borrowing habits and climbing debt service costs — and

While federal efforts to forgive student loans generate headlines and lawsuits, some states and municipalities are tying bond-financed mortgage programs to student loan forgiveness to boost home ownership.   “The Maryland SmartBuy program is designed to help first-time home buyers who have student loan obligations qualify for acquisition financing under the Maryland Mortgage Program,” said Sergei