Today In The Markets

Municipals sold off Wednesday following another weaker U.S. Treasury session while equities were down near the close. Muni yields rose two to 13 basis points, depending on the curve, coming on the tailwind of a market correction, said Brad Libby, a fixed-income portfolio manager and credit analyst at Hartford Funds. Mixed economic data has been

Colorado’s action to rein in rising property values are negative credit factors for some local governments, while public schools will benefit from a state funding boost, according to Moody’s Ratings.  Legislation signed into law May 14 by Gov. Jared Polis will limit annual property tax revenue growth to 5.5% starting in fiscal 2026 and make

The Governmental Accounting Standards Board has issued guidance aimed at helping state and local governments provide additional information to aid certain decision making, assess a government’s accountability and address certain application issues. The 123-page document provides discussion and examples on how the improvements are to work. The guidance builds on Statement 34 released in 1999

Enjoy complimentary access to top ideas and insights — selected by our editors. Two California issuers take first and third spots on the list. The Regents of the University of California top the list with $2.875 billion in six deals while Los Angeles Unified School District lands at third with $1.189 billion in two deals.

The latest Water Resources Development Act, which passed a key Senate committee last week, would for the first time advance a pilot public-private partnership program first proposed by the U.S. Army Corps of Engineers a decade ago. The WRDA of 2024 would require the Corps to craft a best-practices guide for P3 projects and report

S&P Global Ratings has revised the outlook on bonds issued for the University of Chicago Medical Center to negative from stable.  The rating agency affirmed its AA-minus long-term rating and underlying rating on the bonds, but said it could lower the rating if UCM fails to raise days’ cash on hand to about 200 days,

Fulcrum BioEnergy, a clean-fuels pioneer that raised more than $1 billion to turn household waste into lower-emitting fuels for planes and trucks, is in danger of going under.  The company, which had issued hundreds of millions of dollars in municipal bonds, recently laid off nearly all of its staff of about 100 and halted most

The owner of a municipal-bond financed nitrogen fertilizer plant in Lee County, Iowa, is trying to sell the plant to one of its largest competitors, Koch Industries. The Iowa Fertilizer Company plant was built from 2012 to 2017 near the unincorporated community of Wever. Helping to kick off construction were $1.194 billion of tax-exempt private