Bonds

Progressive Field, home of baseball’s Cleveland Guardians, is one of two sports facilities in the city subject to tens of millions in capital repairs.Bloomberg News Ohio’s Cuyahoga County Council has approved the sale of $14.5 million of general obligation bond anticipation notes to pay for capital repairs to Progressive Field and Rocket Mortgage Fieldhouse, home

“President Trump and I had a great meeting to discuss our shared priorities for the President’s second term,” said Bowser. ”President Trump and I both want Washington DC to be the best, most beautiful city in the world and we want the capital city to reflect the strength of our nation.”     DC.Gov President-elect Donald Trump and Washington,

<img src=”https://public.flourish.studio/visualisation/20996667/thumbnail” width=”100%” alt=”chart visualization” /> Issuance in 2024 surged to a record $500 billion-plus figure, as infrastructure spending needs, election-related concerns and a slew of mega deals led issuers to come to market en masse. The muni market saw a record $507.585 billion of debt issued in 2024, up 31.8% from $385.061 billion in

Puerto Rico Electric Power Authority(AEE) workers repair electrical infrastructure damaged from Hurricane Maria at an intersection in Canvanas on Oct. 10, 2017. The island was hit with a blackout on Tuesday.Bloomberg News Nearly all of Puerto Rico was without power Tuesday after a widespread failure in the fragile electricity grid triggered an island-wide blackout. The

A deal backed by United Airlines to finance upgrades at Houston’s George Bush Intercontinental Airport was one of many billion-dollar-plus deals in Texas in 2024.Houston Airport System In a record year for municipal bond issuance, Texas set a record of its own. Issuers in Texas sold $67.88 billion of bonds in 2024, according to LSEG

<img src=”https://public.flourish.studio/visualisation/20989474/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were slightly stronger as U.S. Treasury yields fell and equities ended down. Muni yields were bumped up to four basis points, depending on the scale, while UST yields fell five to nine basis points with the biggest gains 10 years and in. The two-year municipal to UST ratio

Bloomberg News The SEC announced today that it has resolved all pending litigation in the action filed against the City of Rochester, New York, and the city’s former finance director Rosalind Brooks-Harris, as well as Capital Markets Advisors and two of its principals, Richard Tortora and Richard Ganci.  A U.S. District Court in the Western

Brightline train in Miami, Florida, on Friday, July 26, 2024.Martina Tuaty/Bloomberg The Brightline Florida train crashed into a fire truck Saturday, the latest and largest accident for the bond-financed express train. The privately owned passenger rail line, which operates between Orlando and Miami at speeds up to 125 miles per hour through densely populated areas,

San Francisco’s “tepid” recovery post-pandemic is pressuring its bond ratings.AdobeStock San Francisco received its third ratings hit ahead of plans to issue $552.5 million of general obligation bonds Jan. 9 in a competitive sale. Fitch Ratings revised its outlook on the city to negative from stable on Thursday, citing its financial woes, but affirmed the

Former President Jimmy Carter died Dec. 29, leaving a lasting legacy in many areas, including public finance. The White House Former President Jimmy Carter died Sunday at the age of 100 at his home in Plains, Georgia, leaving a legacy that began with serving in state and local leadership and included deregulation that changed the

The two leaders of New York’s state legislature vetoed the Metropolitan Transportation Authority’s capital plan, which has a massive funding gap.Marc A. Hermann / MTA A state review board has vetoed the New York Metropolitan Transportation Authority’s 2025-2029 capital plan. The leaders of both houses of the state legislature, in their roles as members of

Enjoy complimentary access to top ideas and insights — selected by our editors. President-elect Donald Trump’s return to the White House has placed public finance leaders on the defensive, as tax policy changes may impact the industry’s investor base, increase borrowing costs and stymie certain infrastructure finance opportunities. Looking to the past offers some insight

<img src=”https://public.flourish.studio/visualisation/20962238/thumbnail” width=”100%” alt=”chart visualization” /> Municipals ignored losses in U.S. Treasuries Friday ahead of another week without new-issue supply to provide direction. Equities saw losses. Triple-A muni yield curves were unchanged while USTs saw losses of up to six basis points while the 10-year UST closed the session above 4.6%. While Friday’s muni session

S&P Global Ratings Adobe Stock A sharp decline in debt service coverage helped drive a four-notch downgrade and CreditWatch placement for wastewater revenue bonds issued by Salinas, California. S&P Global Ratings Monday cut the debt to BBB-plus from AA-minus and put the rating on CreditWatch with negative implications. “The downgrade reflects our view of the

“Lawmakers will need enhanced pay-fors, putting a substantial target on the municipal bond tax exemption,” said Tom Kozlik, managing director, head of public policy & municipal strategy for Hilltop Securities.  ”I think there is a 50% or greater chance the municipal bond tax exemption will be significantly curtailed or even completely eliminated in 2025.”  Hilltop Securities Looking

Oregon Gov. Tina Kotek has been working furiously the past 30 days launching her budget proposal and closing the door on a special session to deal with costs associated with a record-breaking 2024 wildfire season.Oregon Governor’s Office It’s been a busy 30 days for Oregon Gov. Tina Kotek. Since Thanksgiving, she has approved legislation drafted

<img src=”https://public.flourish.studio/visualisation/20953080/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were little changed Thursday along with U.S. Treasuries while equities made gains. Mutual funds saw more outflows while money market funds were back in the black. The market is in a “seasonal winter softness” period where technicals are weak at the moment, said Jeff Timlin, a managing partner

“This ruling protects critical funding that helps us provide public safety, infrastructure and other essential services for our residents,” Round Rock Mayor Craig Morgan said.City of Round Rock, Texas A Texas judge ruled largely in favor of six cities that sued the state comptroller over a move that would have cost them millions of dollars

“You have these woke corporations who are dictating how people should invest,” Indiana Treasurer Daniel Elliott told a local radio station. “You have these folks from New York City and Europe and California dictating how Hoosiers’ investments should be invested. And that’s a problem.”Indiana Treasurer of State The battle over ESG investing is spreading in

“It’s going to be a tough balancing act,” said Steve Skancke, chief economic advisor at Keel Point. “They want to have full employment, they want to contain inflation, and certainly, certainly, the imposition of tariffs will contribute to inflation, both with the immediate price increase and with the disruption of supply chains.” Monetary policy in

Single-family homes in Atlanta. Georgia’s new limits on property tax assessments for owner-occupied homes may squeeze school districts and county governments.Bloomberg News Property tax limits embedded in a new Georgia law and constitutional amendment may financially squeeze school districts, city governments and county governments over time, analysts say. House Bill 581 and the related Amendment