Bonds

Evidence shows that the states are collecting and spending more money due to federal action and a tax collection boon, a trend that started two years ago. “Over the past two years total state spending has been heavily impacted by federal COVID-19 aid and rising state tax collections,” said Brian Sigritz, director of State Fiscal
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Municipals improved again Thursday pushing the 10-year triple-A yield firmly below 3% while inflows into municipal bond mutual funds returned after 14 consecutive weeks of outflows. U.S. Treasuries saw losses and equities ended down after Federal Reserve officials tempered expectations of a slowdown in rate hikes. Triple-A yields fell by three to six basis points,
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Inflation, rising interest rates and increasing construction costs are weighing on the implementation of the Infrastructure Investment and Jobs Act. Some projects that were budgeted and started at the beginning of the inflation spiral are now in jeopardy. While the IIJA provides billions of grant dollars, municipal experts say hurdles remain for state and local
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Municipals rallied across the yield curve Wednesday, outperforming U.S. Treasuries and seeing the greatest gains out long after stronger retail sales data signaled the Fed’s tightening is not yet over, pushing equities into the red. Retail sales increased 1.3% in October, slightly above the consensus forecast of 1.0% and a significant improvement from the flat
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As environmental, social, and governance continues to dominate many discussions of bond issuance and marketing the people on the front lines are constantly testing the limits of the label and contemplating how and if it dovetails with their needs. The topic was explored in depth by a group of experts during a Tuesday panel at
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Title: Vice President in the Public Finance GroupFirm: Mitsubishi UFJ Financial GroupAge: 39 Nicole Riggs made her way into public finance after discovering a passion for helping to build communities. Nicole, 39, is a vice president in the Public Finance Group at Mitsubishi UFJ Financial Group (MUFG), responsible for managing relationships with government and not-for-profit clients and prospects.
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Chester, Pennsylvania, has filed for Chapter 9 bankruptcy. The petition was filed Thursday in the United States Bankruptcy Court for the Eastern District of Pennsylvania. In its Chapter 9 filing, the city’s receiver listed estimated liabilities of between $100 million and $500 million with assets of between $10 million and $50 million. The city has
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Fitch Ratings has revised the outlook on Miami-Dade County, Florida’s A-rated senior lien seaport revenue bonds issued for PortMiami to stable from negative. Thursday’s action affects $800.3 million of Series 2021A-1, 2021A-2, and 2021A-3 senior lien seaport revenue bonds the county issued on behalf of its seaport department. Fitch said the outlook revision “reflects the
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