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Municipals saw gains Thursday, ending four consecutive trading sessions of rising yields. U.S. Treasuries improved and equities ended mixed. Municipal yields fell up to seven basis points, depending on the scale, while UST yields fell one to five basis points. Muni-UST ratios fell slightly. The two-year ratio Thursday was at 66%, the three-year at 65%,

Shreveport, Louisiana, was downgraded by Moody’s Ratings.Adobe Stock Shreveport, Louisiana, was downgraded to Baa2 from Baa1 Wednesday by Moody’s Ratings. The agency maintains a negative outlook on the rating. The downgrade of Shreveport’s issuer, general obligation and senior revenue ratings will affect $2.1 billion in debt when the city completes the anticipated $88 million Series

State and local governments in the West, Southwest and Southeast are leading the pack in economic growth as some analysts are seeing good times for the municipal bond market.  “We’ve had $40 billion monthly in new issue calendars for the last seven months in 2024,” said Tom Schuette, senior vice president and investment grade credit

A vacant storefront in San Francisco, which was downgraded by Moody’s Ratings this week.Bloomberg News San Francisco lost a triple-A rating this week after Moody’s ratings downgraded it to Aa1 from Aaa. The rating agency cited the city’s weakened economy, which has narrowed the city’s finances reducing its flexibility to address ongoing spending pressures, in

The Colorado Educational and Cultural Facilities Authority approved revenue bonds to buy and expand the Stanley Hotel.Adobe Stock The Colorado Educational and Cultural Facilities Authority will issue up to $475 million of revenue bonds to finance the purchase of a historic hotel that inspired Stephen King’s The Shining, under resolutions passed by its board on

North Carolina’s largest transportation project to date may be structured as a public-private partnership after the controversial toll lanes proposal won a pair of key votes last week. The Charlotte City Council and transportation planning group Charlotte Regional Transportation Planning Organization gave the green light to the North Carolina Department of Transportation to pursue a

Chicago Mayor Brandon Johnson celebrated Tuesday’s City Council passage of a $1.5 billion bond refinancing.Bloomberg News The Chicago City Council has approved a plan to refinance $1.5 billion of the city’s debt. The council had postponed action on the refinancing at its Oct. 9 meeting.  The city’s finance team expects to issue the bonds in

Tapping public money streams to build stadiums and arenas for privately-owned sports teams is a thriving part of the municipal market despite the fact that it routinely generates controversy about the ultimate value to taxpayers. “The problem is, you’re trying to do a mathematical equation over thirty years,” said David Abrams, a banker with Inner

The U.S. Environmental and Protection Agency’s new PFAS water treatment rules are most likely to hit water utilities serving small service areas with poor populace and old infrastructure the hardest, analysts say. In April the EPA issued final regulations on rules for utilities to remove per- and polyfluoroalkyl substances from drinking water. The substances are

Municipals saw a sharp correction Wednesday, with yields rising double-digits as the asset class played catch up to U.S. Treasuries after recent outperformance led to too-rich ratios. Deals in the primary repriced to higher yields as a result. Muni yields rose five to 18 basis points, depending on the scale, pushing the 10-year above 3%

Houston Controller Chris Hollins’ investor conference took place Tuesday without the  participation of key city officials after Mayor John Whitmore raised “pay-to-play” concerns about corporate sponsorships for the event and requested a city probe. Hollins countered on Tuesday, calling on the Houston inspector general’s office to also investigate corporate sponsorships for the mayor’s Sept. 17