Bonds

Louisiana State Treasurer John Fleming said he would lobby Fitch Ratings for a rating upgrade.Bloomberg News Louisiana plans to sell bonds four more times this fiscal year and at least twice more in the next fiscal year, a Louisiana state official said Thursday. Amounts were not discussed and were not immediately available. The state will

<img src=”https://public.flourish.studio/visualisation/21196063/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were slightly firmer Thursday as the Triborough Bridge and Tunnel Authority deal was upsized to $1.6 billion and outflows returned to muni mutual funds. U.S. Treasury yields fell and equities ended down. The two-year municipal to UST ratio Thursday was at 67%, the five-year at 67%, the 10-year

“As we begin 2025 Americans are barreling towards an economic crisis at year end,” said Bessent. “If Congress fails to act, Americans will face the largest tax increase in history, a crushing four-trillion-dollar tax hike. We must make permanent the 2017 Tax Cuts and Jobs Act and implement new pro-growth policies to reduce the tax

Brightline West is floating $2.5 billion of tax-exempt private activity bonds to finance what the company hopes will be the nation’s first high-speed electric train.Brightline Brightline West, the planned high-speed electric train between Las Vegas and southern California, is prepping $2.5 billion of unrated private activity bonds that mark the next financing step for the

“It is a profound honor to be nominated a second time by President Trump to serve as the Director of the Office of Management and Budget,” said Vought. ”The President has promised the American people a federal government that works for all Americans, not the interests of bureaucrats and an entrenched establishment.  During my previous time at

Search and rescue operations Wednesday after the Palisades Fire in the Pacific Palisades neighborhood of Los Angeles. California’s ability to plan its state budget will be impacted by the wildfires ravaging the Los Angeles area. Shortly after deadly blazes began marching through the communities of Altadena in Los Angeles County and the Pacific Palisades neighborhood

Sean Duffy, former Republican Representative from Wisconsin and President-elect Donald Trump’s nominee as Transportation Secretary, told a Senate Commerce, Science, and Transportation Committee confirmation hearing Wednesday he would cut red tape slowing infrastructure projects if confirmed.Kent Nishimura/Bloomberg President-elect Donald Trump’s pick for transportation secretary, former Congressman and Fox News host Sean Duffy, pledged to trim

Orlando Health last year acquired an 80% stake in Brookwood Baptist Health, the parent of Princeton Baptist Medical Center in Birmingham, Alabama.Orlando Health Orlando Health priced $853 million of tax-exempt bonds this week to fund recent acquisitions and its future capital program. The deal has a seperate taxable component. The tax-exempt Series 2025A priced Wednesday.

Dr. Bob Froehlich, John Rogers, Jr. and Diane Swonk took the stage at the Executives’ Club of Chicago’s Annual Economic Outlook panel Tuesday.Executives’ Club of Chicago The Fed may have two more rate cuts in store this year, there is a floor forming under the Treasury bond market, a short recession is a possibility, and

<img src=”https://public.flourish.studio/visualisation/21179756/thumbnail” width=”100%” alt=”chart visualization” /> Municipals improved Wednesday amid a large new-issue slate, though underperformed a U.S. Treasury rally, after the consumer price index showed a slowdown in inflation. The CPI came in below expectations, while the core CPI, which strips out the more volatile costs of food and energy, was softer than expected.

Chicago general obligation debt was downgraded by S&P Global Ratings, which cited the city’s inability to confront its structural imbalance.Bloomberg News S&P Global Ratings downgraded Chicago’s general obligation debt to BBB from BBB-plus Tuesday, saying the city’s 2025 budget fails to address a persistent structural imbalance. The outlook, which S&P placed on credit watch negative

A lawsuit filed in Maricopa County Superior Court by the conservative Goldwater Institute challenges tax rate hikes approved by the Gilbert Town Council in October.AdobeStock The town council in Gilbert, Arizona, violated the state constitution by approving tax increases on services to fund infrastructure projects, according to a lawsuit filed by the Goldwater Institute.  The

As cigarette sales decline and tobacco giants lose market share to vaping upstarts, some assumptions underlying tobacco securitization bonds have been upended.Bloomberg News Less than five years after Ohio restructured the credit to avoid a default, the Buckeye Tobacco Settlement Financing Authority needed a debt service reserve draw to pay holders of its tobacco settlement

Airys represents a paradigm shift in public finance, said Columbus, Ohio, City Auditor Megan Kilgore, and advisor to the project.Donna Alberico Stanford University students have developed a tool to help local and state governments navigate climate-resiliency funding opportunities using artificial intelligence to match these projects with varying grant opportunities. “This is going to be one

Enjoy complimentary access to top ideas and insights — selected by our editors. Lawsuits surrounding everything from unethical sponsorships to the sale of refunding bonds swept across the public finance markets in 2024, creating a tense dynamic between municipalities and regulators. Here are some of the top cases from the last few months to keep

<img src=”https://public.flourish.studio/visualisation/21164578/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were weaker for the third consecutive trading session amid a heavy new-issue calendar, while U.S. Treasury yields fell slightly and equities ended mixed. Several large new-issues priced into a weaker market, including San Francisco International Airport, Jacksonville Electric Authority water and sewer bonds, Miami-Dade County School Board, Dallas

Firefighters at a burning structure during the Palisades Fire in Los Angeles Wednesday.CAL FIRE The Los Angeles-area wildfires are affecting the ratings and yields on the city’s bonds. On Tuesday, S&P Global Ratings lowered its long-term and underlying ratings on the Los Angeles Department of Water and Power to A from AA-minus for its power

“During the first Trump presidency, the tax cuts were the rocket fuel that propelled America out of the stagnation of the Obama years,” said Committee Chairman Jason Smith. ”By every conceivable measure, American workers and the economy were better off. Americans earned bigger paychecks, unemployment for every group was at historic lows, and poverty dropped to

An expansion of the state and local tax deduction cap would be targeted at middle-class taxpayers, not the “ultra wealthy,” said New York Republican Rep. Nicole Malliotakis.Bloomberg News New York Republican Rep. Mike Lawler last week introduced a bill to significantly expand the state and local tax deduction cap in a fresh effort to resolve

“I expect revenues to grow in the next biennium, although at a more moderated pace than historical levels,” Texas Comptroller Glenn Hegar said.Michael Dorman Texas is expected to have an estimated $194.6 billion available for general fund spending in its next biennial budget, 1.1% less than in fiscal 2024-25 due to a smaller, but still

Oklahoma City is seeking financing proposals for a downtown arena to replace Paycom Center, where the National Basketball Association’s Thunder has played since 2008.Adobe Stock Oklahoma City will review proposals due this week on ways to finance a downtown arena to replace Paycom Center, the home of the National Basketball Association’s Thunder, at a cost