Bonds

While the economy remains “resilient,” signs of slowing growth have emerged, said Judith Raneri, senior vice president and portfolio manager at Gabelli. Members of the Federal Reserve have telegraphed their intentions, analysts said, and will cut the fed funds target rate by 25 basis points this week, bringing the range to 4.50% to 4.75%, but

Hollywood High School is part of the Los Angeles Unified School District, which is asking voters to authorize $9 billion of bonds.Bloomberg News The Los Angeles Unified School District, the second-largest in the US, is asking local voters to approve the sale of $9 billion in school construction bonds Tuesday to modernize its aging facilities

<img src=”https://public.flourish.studio/visualisation/20133839/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were firmer Monday as market participants brace for likely volatility due to the dueling events of the election and the Federal Open Market Committee rates decision. U.S. Treasury yields fell, with the greatest gains out long, and equities were down near the close. The two-year municipal to UST

Rep. Richard Neal, D-Mass, would re-take the helm of powerful House Ways and Means Committee if Democrats win the House.Bloomberg News A handful of tight Senate and House elections will determine control of key Congressional committees in Tuesday’s federal election, with the outcome determining the shape of a high-stakes tax policy debate and the next

Enjoy complimentary access to top ideas and insights — selected by our editors. October’s roundup of pressing items in the bond markets includes a spate of lawsuits involving municipal bonds, the ongoing bankruptcy of Chester, Pennsylvania, issuers weighing in on the Financial Data Transparency Act and more. Click here to read September’s grouping of top

Vogtle nuclear power units 4 and 3. Fitch Ratings upgraded the J and M project bonds and affirmed the P project bonds. Georgia Power Company Fitch Ratings upgraded $4.2 billion in Municipal Electric Authority of Georgia bond debt to A-minus from BBB-plus. The upgrades affect $1.7 billion of Plant Vogtle units 3 and 4 project

“The elective pay provisions of IRA allow public power utilities, rural electric cooperatives, the Tennessee Valley Authority, and other qualifying tax-exempt entities to directly benefit from certain energy-related credits,” said John Godfrey, senior government relations director, American Public Power Association.APPA Provisions in the Inflation Reduction Act are changing the landscape for issuers this tax season

The Jefferson Hospital for Neuroscience in central Philadelphia is part of the Jefferson Health hospital network.Bloomberg News The healthcare and higher education sectors have struggled for years. But Thomas Jefferson University is forging ahead.  The Philadelphia-based university, which runs the growing Jefferson Health hospital network, priced $1 billion of refunding revenue bonds Wednesday. The system

&lt;img src=”https://public.flourish.studio/visualisation/20096840/thumbnail” width=”100%” alt=”chart visualization” /&gt; Municipals were little changed Friday ahead of a week of virtually no supply as all eyes turn to the election and macroeconomic policy. U.S. Treasury yields rose and equities ended up after a weaker-than-expected jobs report. The employment report underwhelmed, with just 12,000 jobs added in October, but observers

Fitch Ratings Director Tammy Gamerman said the long-term increase in frequency and intensity of hurricanes could hinder Florida’s economic growth. Hurricane Milton caused more damage that will require reimbursement from the Florida Hurricane Catastrophe Fund than Hurricane Helene did, and Moody’s Ratings believes the state may need to sell bonds to replenish the fund in

The town council in Payson, Arizona, rescinded its Aug. 21 approval of $70 million of tax-exempt bonds in the wake of ongoing litigation and opposition to the debt sale from incoming council members.AdobeStock An Arizona town terminated a plan to sell $70 million of bonds despite prevailing in a lawsuit that claimed the debt’s approval

Fitch Ratings upgraded the District of Columbia’s ballpark revenue bonds Series 2006A and 2006B to AA from AA-minus, a development that Washington officials believe highlights the strong current and future position of the unique city. “This Fitch upgrade reflects our financial stability and the strong economic prospects of the district,” said Chief Financial Officer Glen

Former director of the Office of State and Local Finance at US Treasury Kent Hiteshew, left, and David Dubrow, a partner at ArentFox Schiff, penned a pair of pieces arguing for direct SEC oversight of issuer disclosure. After decades of what investors see as inadequate disclosure from cities, towns and states, it’s time to consider

The U.S. Virgin Islands Supreme Court upheld a 2021 law reshaping the Water and Power Authority’s governing board, a ruling that may be a credit positive for the struggling authority. “Clearly this is a first step in reforming the operations at WAPA,” Muni Credit News Publisher Joseph Krist said last year after an earlier Superior

The University of California, Berkeley is one of 10 campuses in the UC system.Bloomberg News The volatility in California’s state tax and revenue structure has its two massive public university systems scrambling. To close a budget gap, state lawmakers cut funding to the University of California and California State University systems in July as part

Munis were little changed in the last session of the month and few deals of size priced, while muni mutual funds saw inflows overall but high-yield saw the first outflows since mid-April. U.S. Treasuries were mixed and equities saw losses. “The final session of October concludes what has been an upwardly trending curve all month

Enjoy complimentary access to top ideas and insights — selected by our editors. The election is fast approaching and many economic and tax policies are at stake under the guidance of a new president and changes in Congress.  Vice President Harris and former President Trump’s only debate, on Sept. 10, largely ignored discussions on economic

Nora Wittstruck is chief analytical officer for governments at S&P Global Ratings.Bear Gutierrez/Bear Gutierrez Nora Wittstruck is the new chief analytical officer for governments at S&P Global Ratings. Wittstruck takes over from Robin Prunty, who retired in August.  “One of the challenges of whomever would have taken this role is filling her shoes. She is

October saw issuance eclipse $55 billion led by new-money tax-exempt paper as infrastructure spending needs, election-related concerns and Fed policymaking uncertainty led issuers to tap the capital markets. October’s volume was at $56.63 billion in 985 issues, up 44.3% from $39.235 billion in 767 issues in 2023, according to LSEG data. October’s total is above

While most of the attention remains riveted on the presidential election, the winds of change will also be blowing through the states in ways that may not parallel federal elections and which can significantly impact public finance at the state and local levels. “When you’re looking at the top of the ticket nationwide, that does

The Municipal Securities Rulemaking Board has put out a request for information on its rate card fee setting process, further indication that the board is still working through potential modification and upgrades to how it goes about setting and collecting its underwriting, transactions and trade count fees. This was approved during the board’s first quarter