Bonds

<img src=”https://public.flourish.studio/visualisation/20924481/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were little changed Monday ahead of the holidays as U.S. Treasury yields rose and equities were mixed. The two-year municipal to UST ratio Monday was at 64%, the five-year at 65%, the 10-year at 67% and the 30-year at 82%, according to Municipal Market Data’s 3 p.m. EST
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The aerial view of San Francisco was taken during better times in 2015 when the city’s tech industry was thriving and commercial rents were skyrocketing.David Paul Morris/Bloomberg San Francisco’s continuing weakened economic trends and deficit spending have resulted in a one-notch downgrade to AA-plus from AAA of its long-term rating and a negative outlook from
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S&P cited increasing enplanements and strong economic fundamentals in the service area as or its upgrade of Hartsfield-Jackson Atlanta International Airport.Bloomberg News S&P Global Ratings said it raised to AA from AA-minus Hartsfield-Jackson Atlanta International Airport. The outlook is stable. The upgrade affects $3.6 billion of the airport’s $4.4 billion in debt, raising the rating
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Minneapolis has earned an upgrade to Aaa from Moody’s Ratings, bringing it to triple-A status with Fitch Ratings, Moody’s and S&P Global Ratings.Bloomberg News Moody’s Ratings upgraded Minneapolis to Aaa from Aa1, bringing the city the triple-A triple crown. The outlook is stable, reflecting an expectation that the city’s strong financial profile will help it
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Chicago Public Schools’ Northside College Prep High School. The district’s Board of Education ousted its CEO, Pedro Martinez, in a heated special meeting Friday. Bloomberg News Chicago Mayor Brandon Johnson’s handpicked Board of Education unanimously approved the firing of Chicago Public Schools CEO Pedro Martinez late Friday in a heated special meeting. S&P Global Ratings
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Connecticut Gov. Ned Lamont has consistently defended the fiscal guardrails he inherited when he first won the office in 2018.Bloomberg News Connecticut’s “fiscal guardrails,” a 2017 set of budget reforms, have a pretty big reputation, as budget policies go.  The guardrails, placed in the state’s bond covenants, forced the state to pay down billions of
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&amp;lt;img src=”https://public.flourish.studio/visualisation/20893870/thumbnail” width=”100%” alt=”chart visualization” /&amp;gt; Municipals saw a stronger tone after U.S. Treasuries improved on a slightly lower-than-expected inflation print while equities made gains to close out a volatile week. “This month’s inflation print is quite benign, but does it even matter? The bottom-line is another one or two months of benign inflation prints will
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Texas Attorney General Ken Paxton addresses the Conservative Political Action Conference in February. The Republican on Friday lauded Wells Fargo’s move to leave the Net-Zero Banking Alliance, ending a review by his office that could have led to the bank being banned from underwriting state and local government bonds.Bloomberg News Texas Attorney General Ken Paxton
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Palomar Health’s continuing financial woes caused Fitch to push its ratings further into junk territory.Palomar Health The ratings of troubled Palomar Health, an Escondido-based two-hospital system, took another hit this week, falling further down the Fitch Ratings junk scale as its financial situation worsened. In a Wednesday report, Fitch cited a “significant cyber event that
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“The whole goal of the bond fund was, ‘how can we further extend economic development,’ said Craig Teamer, director of finance and special projects for the Toledo-Lucas County Port Authority. ”If you’re looking to amplify some additional investment in economic development, a bond fund could be considered, and it’s also could be a revenue stream. There
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A California hospital during the pandemic in early 2021. Hospital sector recovery from COVID-19 may be turned around by Medicaid cuts under Trump, industry analysts say.Bloomberg News If President-elect Trump’s ideas for healthcare move forward, California’s budget as well its hospitals are likely to face challenges. The Golden State wouldn’t be alone, as the proposed changes
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Peter Orr is joining Sycamore Advisors as senior managing director.Sycamore Advisors Indianapolis-based Sycamore Advisors is building its quantitative muscle with two new municipal finance hires.  Peter Orr joins the municipal advisory firm as senior managing director and Ching Yin as senior vice president. Areas of focus will include analytical tools and quantitative modeling. Both are based
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&amp;lt;img src=”https://public.flourish.studio/visualisation/20879380/thumbnail” width=”100%” alt=”chart visualization” /&amp;gt; Municipals sold off Thursday, playing catch up to the U.S. Treasury’s extended rout across most of the curve. Equities ended mixed as all markets further digested macroeconomic uncertainty and volatile policy swings coming out of Washington. Muni yields rose 12 to 19 basis points, depending on the scale, while
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Bellarmine University had very weak debt service coverage levels in the last three fiscal years, Moody’s Ratings said.AdobeStock Bellarmine University was downgraded to B1 from Ba3 by Moody’s Ratings, affecting about $60 million of outstanding debt. The outlook is negative. The downgrade on the Kentucky-based school stemmed from declining enrollment, persistent use of reserves, and
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Moody’s Ratings does not rate Clyde, Texas, but it highlighted the city’s recent default in a report this week.Bloomberg News A small Texas city struggling with water scarcity disclosed this month that it took out a high-interest, short-term loan to repay companies that insured defaulted certificates of obligation. Clyde, a city of less than 4,000
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“We hope that there will be some kind of resolution that Speaker Johnson can find between the wider variety of parties that are now entering the conversation of funding the federal government,” said Emily Brock, director of the federal liaison center at the Government Finance Officers Association.  GFOA The continuing resolution deal to keep the government
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&amp;amp;lt;img src=”https://public.flourish.studio/visualisation/20863349/thumbnail” width=”100%” alt=”chart visualization” /&amp;amp;gt; Municipals lost more ground Wednesday, but outperformed a selloff in the U.S. Treasury market, after the Federal Open Market Committee signaled fewer rate cuts on the horizon, with a likely pause in January. Equities also sold off, with the Dow Jones Industrial Average hitting a 10-day losing streak, the
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