Today In The Markets

Houghton University, a liberal arts school in Western New York established in 1883, saw its rating downgraded into junk status by S&P Global Ratings. The rating agency cut the school’s tax-exempt bonds one notch to BB-plus from BBB-minus, citing its track record of deficits plus a large operating shortfall expected in fiscal 2024.  “We believe

The secondary market showed lighter trading and steady yields Thursday as the last deals of size priced and muni mutual funds saw small inflows. U.S. Treasuries were slightly weaker and equities were mixed near the close. The day’s moves showed muni-to-UST ratios holding mostly steady. The two-year muni-to-Treasury ratio Thursday was at 64%, the three-year

The Accelerating Deployment of Versatile, Advanced Nuclear for Clean Energy Act, which is expected to spur nuclear power production passed in the U.S. Senate and is heading towards President Biden’s desk for signing.  “This bipartisan piece of legislation will encourage more innovation and investment in nuclear technologies right here on our shores,” said Sen. Shelley

Utah lawmakers on Wednesday amended a law aimed at keeping the state’s largest coal-fired power plant in operation to ease concerns raised by the Intermountain Power Agency (IPA).   House Bill 3004, which passed both chambers during a special session, makes changes to legislation signed into law by Gov. Spencer Cox in March that requires IPA

Puerto Rico’s financial oversight board is seeking to reopen a confirmation hearing on a debt-restructuring plan for the island’s power utility after an appeals court last week ruled that bondholders have a claim to the agency’s future net revenue. The oversight board, which manages the bankruptcy of Puerto Rico’s Electric Power Authority, called PREPA, wants

Under Republican leadership, Louisiana has joined the red state battle against environmental, social and governance policies with the country’s latest state-level law that bans doing business with corporations, including bond underwriters, deemed to be unfriendly to the gun industry. Gov. Jeff Landry, a Republican who took office in January, has long advocated against ESG issues