Bonds

PREPA bondholders opposed to the Oversight Board’s offer say the reasons the court had given to continue the stay are no longer valid. Puerto Rico Electric Power Authority bondholders opposed to the Oversight Board’s proposed restructuring filed a motion to lift the bankruptcy’s litigation stay, which could lead to their appointing a receiver for PREPA.

“Before every new Congress, we go through the process of reassessing our priorities and updating our advocacy materials, said Jason Akers, managing partner at Foley & Judell and president of the National Association of Bond Lawyers. ”With the prospect of tax reform in 2025, we see an elevated need to speak out in support of tax-exempt

Southwest municipal bond issuance climbed 23% last year led again by Texas, where debt sales accounted for nearly 70.4% of the region’s volume.  The increase to $103.3 billion of bonds marks a big jump from 2023’s $84 billion, which was just 0.6% higher than in 2022, according to LSEG data. Bond volume in Texas set

<img src=”https://public.flourish.studio/visualisation/21795219/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were slightly firmer in spots Monday as U.S. Treasury yields fell and equities ended mixed. “Munis have been slow and steady (steady may be a stretch) for the first couple of months of the year,” said Daryl Clements, a portfolio manager at AllianceBernstein. Munis returned 0.51% in January

“Every deal team that has an issue they’re working on will spend a lot of time talking about this,” said Glenn Weinstein at Miller, Canfield, Paddock and Stone, P.L.C. and former chair of the National Association of Bond Lawyers’ Securities Law and Disclosure Committee.Glenn Weinstein Municipal market participants are beginning to ponder when and whether the threat to

“Ending this discriminatory treatment of tribal governments by providing them full parity with state and local governments in accessing tax-exempt bond financing will enhance job creation, generate sorely needed governmental revenue for social services, stimulate infrastructure and business development on tribal lands, and accelerate the diversification and resiliency of tribal economies, particularly in their private

Bloomberg News Residents owed $130 million after their senior living community went bankrupt are poised to suffer big losses but won’t be left empty-handed under a sale agreement approved by a New York federal court. Current and former residents of The Harborside, a 329-unit continuing-care retirement community in Port Washington on Long Island’s North Shore,

License plate scanning cameras used to collect congestion pricing tolls in New York City.Bloomberg News New York City’s toll on motorists driving into Manhattan’s busiest areas raised $48.6 million in its first month, as President Donald Trump is seeking to end the congestion pricing program just weeks after it began. The Metropolitan Transportation Authority, which

Municipal bond issuance surged past the $500 billion mark to a record in 2024, as infrastructure spending needs and election-related concerns unleashed a slew of mega deals. The muni market produced $512.7 billion of debt issuance in 2024, up 33.1% from $385.1 billion in 2023, according to LSEG data. This surpasses the previous record of $484.6

<img src=”https://public.flourish.studio/visualisation/21753829/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were firmer Friday ahead of a larger new-issue calendar as U.S. Treasury yields fell and equities were down. Muni yields were bumped up to four basis points, depending on the curve, while UST yields fell eight to nine basis points across the curve. Market activity has been somewhat

Collapsed Interstate 40 in western North Carolina after Hurricane Helene. Gov. Josh Stein is seeking an additional $19 billion in federal aid.North Carolina Department of Transportation Reports that President Donald Trump plans to cut 84% of the staff from one of the two major federal programs providing natural disaster aid concern analysts. Previously, Trump suggested

“I hope the House can pass one big bill that meets President Trump’s priorities,” said Senate Budget Committee Chair Lindsey Graham, D-S.C. ”This approach provides money that we needed yesterday to continue the momentum on securing our border, enforcing our immigration laws, and rebuilding our military. Time is of the essence.”Brett Flashnick The U.S. Senate emerged

A rendering of Brightline West, the Las Vegas-Los Angeles electric bullet train that came to market this week with $2.5 billion of unrated private activity bonds.Brightline West Brightline West, the Las Vegas-Los Angeles bullet train, hit the market Thursday with $2.5 billion of unrated private activity bonds that sported nearly double-digit yields in what’s likely to

Construction on an underpass at State Route 46, part of the California high speed rail project, which is the target of a review by the Trump administration.California High Speed Rail Authority The Trump administration said Thursday it would launch a probe into California’s long-struggling bullet train to determine whether it should rescind $4 billion in

Andrew Nakahata was appointed to California IBank’s second top slot.TD Securities Andrew Nakahata has been appointed chief deputy executive director and chief operating officer at the California Infrastructure and Economic Development Bank, according to the governor’s office. San Francisco-based Nakahata, who is expected to start with IBank on March 17, will leave a position as

Vacant office space is advertised in San Francisco. The city wants to make it easier to convert offices into apartments.Bloomberg News Office market turmoil since the COVID-19 pandemic amid a housing shortage has driven calls for office-to-residential conversions in San Francisco and Los Angeles. While the concept sounds simple, so far such conversions have been

<img src=”https://public.flourish.studio/visualisation/21736765/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were steady to slightly firmer Thursday as the $2.5 billion Brightline West Passenger Rail Project deal priced amid a quieter new-issue market. U.S. Treasury yields fell slightly and equities were down. The two-year municipal to UST ratio Thursday was at 62%, the five-year at 63%, the 10-year at

Illinois Gov. JB Pritzker speaks in Washington, D.C., in January. The governor devoted a healthy chunk of his budget address to warnings about and defiance of the Trump administration.Bloomberg News Washington’s threats to state and local government funding took center stage when Illinois Gov. JB Pritzker Wednesday delivered his seventh budget address to a joint

For municipal bond investors – and investors overall – an executive order signed Tuesday by President Donald J. Trump could erode confidence that the Securities and Exchange Commission will be willing to take action against “politically favored fraudsters.” “One thing I would worry about if I was a muni investor is the possibility that the

“At present, there is no threat whatsoever to the tax exemption of outstanding bonds,” said Vikram Rai, lead strategist at the municipal division at Wells Fargo. ”I firmly believe that if there is an attempt to curb the benefit of tax exemption, then it will not be retroactive, it will be proactive, so outstanding bonds will not

Louisiana Treasurer John Fleming oversaw Thursday’s State Bond Commission meeting where a $400 million general obligation bond sale for the state was approved.Bloomberg News The Louisiana State Bond Commission approved a $400 million general obligation bond sale for the state. The bonds are scheduled to be sold competitively on April 9. Bond proceeds will be