Bonds

When Indianapolis Mayor Joe Hogsett announced he’d be pursuing a Major League Soccer team for his city, it appeared to throw Indianapolis’ previous plans for a new stadium development — spearheaded by the owner of the city’s United Soccer League team, the Indy Eleven, Ersal Ozdemir — into doubt.  But city officials subsequently revealed that

Los Angeles County rode into the market this week on a high note after getting a one-notch upgrade to AAA from Fitch Ratings. The county’s finance team, led by Morgan Stanley, priced $700 million of 2024-25 tax and revenue anticipation notes Tuesday with 5% coupons maturing in June 2025 at 3.25%. “We set our expectation

In the last few weeks, readers had their attention trained on updates in mortgage-related court cases, developments in AI and notable actions of government agencies.  Here are the recent most-read stories from National Mortgage News you may have missed. These articles were reported by Brad Finkelstein, Bonnie Sinnock, Maria Volkova, Andrew Martinez, and Spencer Lee,

The public finance community hailed Wednesday’s First Circuit Court of Appeals ruling that Puerto Rico Electric Power Authority bondholders had a lien on net revenues. Observers say the decision sends a message that the municipal revenue bond pledge is strong, the Oversight Board’s plan of adjustment for PREPA as it currently is proposed is unlikely

Municipals were firmer Thursday following a stronger U.S. Treasury session while municipal bond mutual funds reported the second consecutive week of inflows. Equities closed the session mixed. Triple-A yields fell one to five basis points while USTs saw gains of seven to nine basis points. The moves pushed muni to UST ratios slightly higher. The

The Houston city council passed a fiscal 2025 budget Wednesday that eschews tax increases or new fees and taps a general fund balance to help fill a structural budget gap. Mayor John Whitmore said the $7.3 billion all-funds budget, which includes about $3 billion in general fund spending, was responsible, while noting the city continues

The D.C. City Council tentatively passed a budget on Wednesday that includes eliminating the tax exemption on interest from out-of-state bonds.  The D.C. Office of the Chief Financial Officer believes eliminating the exemption will save $7.7 million in fiscal year 2025 and about $16 million annually thereafter.  The OCFO has still not given the final

The country’s largest public pension fund came under fire Wednesday from House Republicans, who accused the fund of being part of a “climate cartel” that illegally colludes with other investors to try to force companies to reduce their carbon footprint. The California Public Employees’ Retirement System was one of four witnesses called by the Republican

Puerto Rico is no closer to exiting external oversight after the release of its most recent audited financials. That’s according to a letter the Puerto Rico Oversight Board sent to the commonwealth’s treasury earlier this month following the April release of Puerto Rico’s annual comprehensive financial report for fiscal 2022. Four consecutive years of balanced

Most sectors showed flat growth of muni ownership quarter-over-quarter, but year-over-year Federal Reserve data shows the continued trend of increases in separately managed accounts and decreases in bank and insurance company holdings. The face amount of munis outstanding ticked up to $4.081 trillion, a 0.6% increase from Q4 2023 and 1% from Q1 2023, according

The U.S. First Circuit Court of Appeals almost entirely overturned a lower court’s reasoning that underlay an Oversight Board proposed Puerto Rico Electric Power Authority plan of adjustment, in what appears to be a major bondholder victory. On Wednesday afternoon, a panel of appeals court judges ruled unanimously that PREPA bondholders had a perfected lien

Enjoy complimentary access to top ideas and insights — selected by our editors. The top five bond financings in the ranking have an average dollar volume of more than $1.9 billion. The top 18 bond financings have a cumulative amount of nearly $18 billion. Scroll through to see which bond financings are in the top

Municipals traded stronger across the yield curve Wednesday, following an early rally in U.S. Treasuries after inflation data came in softer than anticipated. While Treasuries pared back some of those gains after the Federal Reserve held rates steady and the post-meeting statement signaled only one rate cut may come this year and spoke of “modest”

The Environmental Protection Agency’s efforts to speed up the transition away from dirty energy sources like coal could pressure public power utility ratings, especially if it results in the accelerated retirement of coal-fired generation facilities, according to Fitch Ratings. Analysts say that accelerating a shift to clean power — particularly when the technology for carbon

A proposed settlement between Houston and its firefighters union moved forward Wednesday with the city council authorizing the issuance of $650 million of general obligation judgment bonds, although a vote on a collective bargaining agreement was delayed.   Both are part of a plan to end an eight-year contract impasse and litigation in Harris County District

In another sign of the sector’s recovery, airports are set to flock to the muni market this year as issuers can no longer postpone long-delayed projects and necessary infrastructure maintenance. Airport issuance got off to a slow start this year with only $3.5 billion priced through the end of May, according to Ramirez’s May airport

Milwaukee Public Schools is several months late in submitting the annual financial audit reports required by statute, and the delay has triggered a litany of consequences.  The Wisconsin Department of Public Instruction has withheld the district’s June 2024 Special Education Aid payment of $16,623,612. MPS Superintendent Keith Posley resigned last Tuesday. And Wisconsin Gov. Tony

Municipals were steady Tuesday ahead of Wednesday’s Federal Open Market Committee meeting and Consumer Price Index report, as U.S. Treasury yields fell and equities were mixed near the close. “The market’s great expectations regarding Fed cuts have witnessed a dramatic downward adjustment since the start of the year,” said Vikram Rai, head of municipal markets

The Municipal Securities Rulemaking Board’s new amendments filed with the Securities and Exchange Commission don’t go far enough in addressing the supervisory concerns associated with investments bankers and other traders involved in public offerings and private placements. That view was collected as part of the MSRB’s amendments to Rule G-27 on supervision, which brings the

Transcription: Transcripts are generated using a combination of speech recognition software and human transcribers, and may contain errors. Please check the corresponding audio for the authoritative record. Mike Scarchilli (00:04): Hi everyone and welcome to the Bomb Buyer Podcast, your essential resource for insights into everything municipal finance. I’m Mike Scarchilli, Editor-in-Chief of the Bomb Buyer,

Enjoy complimentary access to top ideas and insights — selected by our editors. The top five bond financings in the rankings have an average dollar volume of more than $1.2 billion. The top 20 bond financings have a cumulative amount of more than $15 billion. Scroll through to see which bond financings are in the