Bonds

Hurricane Beryl’s battering of parts of Texas is not deterring next week’s bond pricing for Galveston Wharves. The port said the $160 million revenue bond sale will proceed on Tuesday despite an operational interruption caused by the once-Category 5 storm that ravaged the Caribbean and made landfall Monday 100 miles south of Galveston in Matagorda

Every state in the Midwest has clean water and drinking water financing programs designed to help municipalities build infrastructure for safe water. But there are signs that those financing mechanisms may face greater strain in the years ahead.  Already, citing “historically high requests for financial assistance,” Wisconsin has capped applications to its Clean Water Fund

Municipals were little changed Tuesday outside of bumps on the front end, as U.S. Treasury yields rose slightly and equities ended mixed. The two-year muni-to-Treasury ratio Tuesday was at 65%, the three-year at 66%, the five-year at 67%, the 10-year at 66% and the 30-year at 83%, according to Refinitiv Municipal Market Data’s 3 p.m.

Congress is back in Washington, D.C. with a busy week as the Senate launches its 2025 appropriation process and the House holds full Appropriation Committee votes on a transportation and housing spending measure and an energy bill that would see a significant boost in nuclear support. House Republicans have spent weeks advancing various spending measures

A sales tax hike to fund affordable housing in Denver would appear on the November ballot under a plan unveiled Monday by Mayor Mike Johnston.  The proposal, which calls for a 0.5% tax increase to raise about $100 million annually, comes just two weeks after the city council approved placing a 0.34% sales tax hike

Federal Reserve Chairman Jerome Powell was repeatedly quizzed about interest rate cuts, banking regulations and the intricacies of the Basel III Endgame proposal by the Senate Committee on Banking, Housing, and Urban Affairs, but he disappointed markets by saying his panel needs “more good data” before it will cut interest rates.   “Inflation has eased notably

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 (00:06): Hi everyone and welcome to the Bomb Buyer Podcast, your essential resource for insights into all things municipal finance. I’m Mike Scarchilli, editor-in-Chief of the Bomb

Assured Guaranty Ltd. on Monday afternoon will merge its two U.S. financial guaranty insurers into one, which it says will enlarge the pool of capital available to support its insurance policies, create efficiencies and encourage continued growth. It expects to merge Assured Guaranty Municipal Corp. into Assured Guaranty Inc. effective Aug. 1, the firm announced

A bond issue that is part of a settlement to end a years-long impasse between Houston and its firefighters will hit the municipal bond market this week with the higher debt load contributing to a negative outlook for the city’s rating. Most of the proceeds from the $720.4 million general obligation bond sale are earmarked

Hamilton County, Tennessee, has taken steps to approve two bonds totaling $630 million. County commissioners gave preliminary approval to $260 million of general obligation bonds the county will issue for Hamilton County Schools and final approval to a $370 million bond for Erlanger Health System. The proposed school bond is to be advertised so residents

Timothy McGregor has joined Chicago-based Riverbend Capital Advisors as managing partner. He will oversee the shaping and execution of investment strategies as well as manage client portfolios and contribute to the firm’s business development. “Riverbend is really a firm that believes in treating each client specifically, on an individual basis, to meet their needs —

The Biden administration awarded $504 million in grants last week to a dozen tech hubs across the country to scale up the production of critical technologies and create jobs in innovative industries. The tech hubs are part of a push by the administration to accelerate domestic growth in industries such as biomanufacturing, clean energy, artificial

Municipals were firmer Monday ahead of a $9.2 billion new-issue calendar. U.S. Treasuries were little changed and equities ended mixed. The two-year muni-to-Treasury ratio Monday was at 65%, the three-year at 66%, the five-year at 68%, the 10-year at 67% and the 30-year at 84%, according to Refinitiv Municipal Market Data’s 3 p.m. EST read.

A year after committing to the funds, the Biden administration Monday inked the formal grant agreement that, along with low-interest federal loans, make up a $11.7 billion package for the Hudson Tunnel megaproject. The money marks the largest federal transportation grant in American history and will allow construction to begin as soon as this month

The state-managed earthquake insurer for homeowners in California is borrowing in the public debt markets in lieu of paying for additional coverage that would shield it against risks. The California Earthquake Authority plans to price $250 million of short-term debt Tuesday, according to an online investor presentation. The notes, maturing in November, are backed by

The Massachusetts Bay Transit Authority priced more than $1 billion of senior sales tax bonds to good demand as the issuer confronts the challenges of ridership and revenue losses like other transit agencies across the country in a post-COVID remote-work environment. The MBTA also refunded $377 million of outstanding Build America Bonds using an extraordinary

In November 2023, when municipal bonds for the New Terminal One project at John F. Kennedy International Airport first came to market, the project’s team invited investors to look at the construction site. The steel frame of the terminal thrust out of the dirt. Construction workers were installing utility pipes underground. The investors could hear

New York City balanced its largest-ever budget in a weekend deal days before the July 1 deadline. Better-than-expected revenues, a strong economy and savings on asylum seeker programs allowed the city to restore cuts to social services. But analysts warn the city’s bad budgeting habits remain. “While the administration made modest inroads in funding chronically

Municipals were slightly firmer, underperforming U.S. Treasuries, which saw gains up to 10 basis points on the short end, after a better-than-expected jobs report kept a Federal Reserve rate cut in September in play. Equities ended up. While the numbers still suggest a healthy labor market, “this report absolutely keeps the probability of a September

Fitch Ratings affirmed Los Angeles International Airport’s AA rating and stable outlook despite ongoing delays on its automated people mover. The airport’s AA issuer rating reflects “LAX’s superior credit characteristics, including a strong underlying air trade service area, significant operational activity supported by a diverse mix of domestic and foreign-flag carriers, favorable rate agreements with

The Illinois state comptroller reported a 55% year-over-year increase in the end-of-year general revenue fund cash balance as her office paid the state’s bills in a timely manner, a departure from recent years when the state’s unpaid bill backlogs topped $10 billion. Illinois ended the fiscal year with a $1.7 billion balance in the general