Bonds

“We describe the budget as being in fair shape,” said Gabriel Petek, California’s legislative analyst. “There is no new capacity for new budget commitments for the upcoming budget or in the out years” beyond the upcoming budget.Legislative Analyst’s Office The stock market surge propelled by artificial intelligence company gains has set California up for a

“The tax fight is starting now,” said Sen. Elizabeth Warren, D-Mass, who will become the top Democrat on the GOP-led Senate Banking Committee next year.Bloomberg News Incoming Senate Banking Committee Ranking Member Sen. Elizabeth Warren, D-Mass., previewed her position on next year’s tax policy debate Wednesday during a subcommittee hearing in which she called the

From left, Jessica Giroux, general counsel and head of fixed income policy, American Securities Association, Emily Brock, director of the federal liaison center of the Government Finance Officers Association, Caroline Sevier, managing director, government relations & infrastructure initiatives, American Society of Civil Engineers, Tom Kozlik, head of public policy and municipal strategy for Hilltop Securities. 

Transportation Secretary Pete Buttigieg was among those to testify before the Senate Appropriations Committee Wednesday. Bloomberg News A year characterized by a series of natural disasters across the country has legislators agreeing on the need for a bipartisan spending bill intended to aid states in recovery and resilience efforts.  That was the consensus that appeared

A rendering of the planned Calcasieu River bridge in southwest Louisiana, the state’s largest and most complex public-private partnership to date.Plenary One way to tell that the public-private partnership to replace Louisiana’s Calcasieu Bridge has gained national attention in P3 and transportation infrastructure circles? “People can actually pronounce it now the correct way,” joked Shawn

Enjoy complimentary access to top ideas and insights — selected by our editors. The top 10 bond counsel for healthcare deals accounted for $12.32 billion in 63 deals in the first half of 2024. Orrick Herrington & Sutcliffe topped the list with $2.05 billion across 15 deals, followed by Hawkins Delafield & Wood with $2

<img src=”https://public.flourish.studio/visualisation/20399114/thumbnail” width=”100%” alt=”chart visualization” /> Municipal secondary trading did little to move triple-A yield curves, outperforming a weaker U.S. Treasury market again, as the primary market took focus. Triple-A yield curves barely budged while USTs saw losses of three to four basis points across the curve. The day’s moves pushed ratios lower still. The

The John Hancock building, left, and Trump Tower, right, stand in the cityscape as seen from the Willis Tower in Chicago. Bloomberg News S&P Global Ratings placed Chicago’s general obligation bond rating on watch negative Tuesday, warning the city against heavy reliance on one-time budget solutions, as reports suggest Mayor Brandon Johnson has slashed his

“We have designed this competitive project development process to attract extremely capable teams with outside-the-box ideas for bringing water to Arizona and to give WIFA the opportunity to publicly and transparently vet those projects, ensuring that we select the right one for our state,” Ted Cooke, chairman of the authority’s Long Term Water Augmentation Committee,

Bloomberg News The regulation of municipal advisors, a topic of great interest since it was initiated by the Dodd-Frank Act 14 years ago, may well be subtly expanding based on how the Securities and Exchange Commission enforces both its own and Municipal Securities Rulemaking Board rules. That’s according to panelists at the SEC, Financial Industry

The Tampa Bay Rays expect Pinellas County, Florida, to help finance its new major league baseball stadium. Bloomberg News Tensions between Pinellas County Commission, Florida, and Major League Baseball’s Tampa Bay Rays appeared to have increased Tuesday as the team seeks a new financing deal and the commission declined to vote on $312 million of

In the years after the 2008 economic crash, the rating agencies faced criticism largely in how it rated mortgages and securities, which resulted in the Dodd-Frank legislation bringing greater scrutiny to the industry and resulting in vast changes, Moody’s Ratings’ Eric Hoffmann said. With the cost rising and methodologies changing, the California Debt and Investment Advisory

It will take longer for this toll to generate the necessary revenue for the MTA’s 2020-2024 capital program, MTA Chair Janno Lieber said, but the agency is satisfied.Bloomberg News The Metropolitan Transportation Authority Board voted once again to implement congestion pricing, the tolling program budgeted to cover $15 billion of its current capital plan, but

JoAnne Carter, right, managing director and president of PFM, will succeed Dan Hartman as CEO after being unanimously appointed by the PFM Board. PFM Chief Executive Officer Dan Hartman will step down as head of the firm in April as he returns to a direct client support role. JoAnne Carter, managing director and president of

A new engineering and science building highlights plans for the new-money share of the University of Chicago’s award-winning deal.University of Chicago When the University of Chicago’s deal team embarked on the largest financing ever issued through the Illinois Finance Authority, the team had several goals. One was to transform the university’s capital structure; another was

&lt;img src=”https://public.flourish.studio/visualisation/20381307/thumbnail” width=”100%” alt=”chart visualization” /&gt; Municipals improved Tuesday as U.S. Treasury yields fell and equities ended mixed. Triple-A muni yields were bumped one to six basis points, depending on the curve, while USTs saw small gains across the curve with the best performance out long. The secondary took a backseat to the primary market

A sign outside the Financial Industry Regulatory Authority office. The Financial Industry Regulatory Authority has fined New York-based Drexel Hamilton $300,000 in addition to charging four of its registered representatives for submitting retail orders and zip codes for new issue municipal bonds without any basis for such designation. Without admitting or denying the findings, the

Grand Canyon University’s Phoenix campus. The Christian university will be in the municipal market this week with a $520 million deal to refund loans used to refinance 2021 bonds that matured on Oct. 1.Grand Canyon University Phoenix-based Grand Canyon University, which had planned a privately placed refinancing of maturing 2021 bonds this summer, heads to

Tax experts are already ringing warning bells about the effects of tax cuts promised during the election campaign and their effects on future budget deficits.  “If you cause the bond market to completely freak out by having extraordinarily large deficits right off the start due to an unwise tax bill, you will undo that promise

A company and Georgia governments are battling over approval of a bond that would support construction of a monkey breeding facility in Bainbridge. The Georgia Supreme Court may have final say in a battle for $300 million of taxable revenue bonds by a monkey breeding company the state government initially supported but now opposes after

Minnesota-based municipal advisor Johan Rosenberg filed a series of lawsuits on behalf of four states against a group of Wall Street banks for conspiring to rig interest rates on variable-rate demand bonds. A mediation session is set for Tuesday as a long-standing lawsuit charging Wall Street banks with rigging New York’s variable-rate bonds inches forward.