Bonds

Data from the Urban Institute’s recent report on April state tax revenues showed sales tax revenues down year-over-year in 31 states in real terms, a decline the nonprofit think tank attributed to decreases in overall consumption and a shift by consumers from taxable goods to nontaxable services. According to the report, 30 of 47 states

The Securities Industry and Financial Markets Association and State of Missouri have each filed summary judgement bids urging a judge to rule in their favor in a lawsuit over the state’s first-of-its-kind environmental, social and governance investment regulation. The court has set an Aug. 13 date for oral arguments on the dueling motions. SIFMA sued the

Chicago’s Metropolitan Pier and Exposition Authority, which runs the city’s 2.6 million square foot convention center, McCormick Place, expects to sell up to $231 million of McCormick Place Expansion Project refunding bonds next month while exploring options for upgrades to the facility’s Lakeside Center building and plans to renovate the Hyatt Regency McCormick’s guest rooms. 

Municipals were little changed Tuesday with the focus squarely on the active primary slate as U.S. Treasury yields fell slightly out long and equities were mixed near the close. The two-year muni-to-Treasury ratio Tuesday was at 64%, the three-year at 66%, the five-year at 67%, the 10-year at 66% and the 30-year at 84%, according

The water utility serving Harrison and Mamaroneck in Westchester County, New York, agreed to build a $138 million filtration plant by July 2029 and take steps to protect the water quality to 120,000 residents, under a consent decree with the U.S. Environmental Protection Agency and federal prosecutors. The agreement, announced Monday, resolved allegations that the

In a post on its victim-shaming site, ransomware group LockBit claimed Sunday evening that it had stolen 33 terabytes of data belonging to the Federal Reserve, and the group threatened a Tuesday evening release time. The Fed has not commented on the matter. Brett Callow, a threat analyst at Emsisoft, said it was “highly likely,

Denver voters will decide whether to increase the sales tax rate to raise an estimated $70 million annually for Denver Health, Colorado’s sole safety net healthcare provider.  The Denver City Council on Monday approved putting a 0.34% sales tax increase on the Nov. 5 ballot to aid the health system, which has been hit with

Enjoy complimentary access to top ideas and insights — selected by our editors. 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. Michael Scarchilli (00:05): Hi everyone, and welcome to the Bond Buyer podcast, your go-to source for

Favorable market conditions, a general acceptance of rates staying higher for longer and growing uncertainty ahead of the November election have led state and local government issuers to bring more debt than anticipated and in much larger deals to market so far in 2024, a welcomed trend after two paltry years of issuance. Total volume

As Congress sharpens its pencils for a bill-writing session next year, advocates for state bond banks are hoping for an opportunity to advance the “humble and highly effective” financing tools. The idea is decades old, and flush federal infrastructure funds continue to flow. But supporters like Michael Gaughan, executive director of the Vermont Bond Bank,

Kansas will greatly expand its sales and tax revenue bond program in an effort to entice the NFL’s Kansas City Chiefs and the Kansas City Royals of Major League Baseball to move across the border from Missouri, under legislation Gov. Laura Kelly signed into law on Friday. During a special legislative session just three days

Municipals were steady Monday ahead of a surge in supply, as U.S. Treasury yields fell slightly out long and equities were mixed near the close. The two-year muni-to-Treasury ratio Monday was at 64%, the three-year at 66%, the five-year at 67%, the 10-year at 66% and the 30-year at 84%, according to Refinitiv Municipal Market

The U.S. Supreme Court on Monday agreed to take up an environmental challenge to a proposed bond-financed crude oil-transporting railway in Utah. The Seven County Infrastructure Coalition, a Utah public entity that is spearheading the Uinta Basin Railway project, filed a petition in March asking the high court to review a portion of an August

California Gov. Gavin Newsom and lawmakers reached a budget agreement Saturday they say will close multi-year deficits by cutting $16 billion and declaring a statewide fiscal emergency to use reserves. The deal maintains the multi-year fiscal structure proposed in Newsom’s May budget revision to balance the budget in both 2024-25 and 2025-26, based on current

Muni lobbyists expect longtime ally Rep. Richard Neal to return to the chairmanship of the House Ways and Means Committee if Democrats reclaim a House majority in the coming elections, while a Republican victory would likely keep Chairman Jason Smith in power.   “I think Chairman Smith remains popular with his rank-and-file membership, so I fully

Software solutions firm Investortools and technology-driven broker-dealer Millennium Advisors have partnered to streamline the usual muni investment managers’ manually intensive workflow, the firms said. Millennium will provide clients with real-time pricing and trade execution capabilities by connecting directly to the Investortools Dealer Network, or IDN, according to a press release. Millennium will be a “fully

The P3 centerpiece of plans to revitalize New York’s John F. Kennedy International Airport was very well received last week in the municipal bond market. The tax-exempt deal for the New Terminal One project was upsized by $1 billion to $2.5 billion when the deal was priced Tuesday through the New York Transportation Development Corp.

Municipal investors can expect more than $12 billion of bonds and notes in the week of June 24 as issuers forge ahead with primary offerings amid a steadier market and a higher-for-longer mindset settles in. Recent market moves have led munis to outperform other fixed-income asset classes and position tax-exempt returns to close out June

The election, the national debt, and the key legislative accomplishment of the Trump administration has lawmakers and lobbyists taking stock of their positions and reassessing which hills to die on.  “If Congress must tackle the expiration of Tax Cuts and Jobs Act provisions through bipartisan compromise, the process will likely move slower and allow more

The California Supreme Court removed a sweeping anti-tax measure from the November ballot that the state’s Democrats claimed would have been catastrophic for local government budgets. The high court found the measure to be a far-reaching revision of the state constitution and “because those changes would substantially alter our basic plan of government, the proposal

Pressure is beginning to mount for the Federal Emergency Management Agency to expand its role in responding to major weather events and to declare the effects of smoke and extreme heat a major disaster on local communities. That comes in the form of a new petition filed by the Center for Biological Diversity, the Arizona