Bonds

Municipals were firmer in spots Friday, with pressure easing for short-end munis, ahead of a robust new-issue calendar where issuance tops $10 billion. U.S. Treasuries rallied out long, and equities ended up. Triple-A benchmark yields were bumped three to 12 basis points, depending on the scale, at one-year, while UST yields fell four to 13,
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S&P Global Ratings on Friday revised the outlook on Reedy Creek Improvement District, Florida’s general obligation bonds to stable from developing. S&P also affirmed the AA-minus long-term rating on the district’s outstanding GOs, saying the rating reflects the strong tax base, very strong collection rates and consistent financial performance. “The outlook revision reflects recent state
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New Mexico would authorize public-private partnerships on the state and local level under a bill unanimously approved by the state House Thursday and now headed to the Senate. The bill, House Bill 213, would allow P3s for transportation and broadband projects. “Those are two of the most pressing needs in the state,” said Rep. Cathrynn
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Rep. George Santos’, R-N.Y., introduction of a bill that would raise the federal limit of deductions to $50,000 for individuals or $25,000 for married individuals adds to the recent pile on of efforts by Congressional members to raise or remove the cap entirely, but it isn’t likely to get anywhere due to the Congressman’s nefarious
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Municipals were little changed to kick off the month, while U.S. Treasuries were weaker and equities ended mixed. The three-year muni-UST ratio was at 60%, the five-year at 62%, the 10-year at 65% and the 30-year at 90%, according to Refinitiv MMD’s 3 p.m. ET read. ICE Data Services had the three at 64%, the
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Fritz Stradling, who co-founded Stradling Yocca Carlson & Rauth’s public finance practice, died peacefully in his sleep on Feb. 17. He was 96. He and his fellow co-founders of Stradling’s public finance practice, John Murphy and Tom Clark, are credited with helping to give California bond law firms stature in the public finance world. “Before
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MassachusettsGov. Maura Healey unveileda tax relief proposal Monday, a key feature of her administration’s fiscal year 2024 budget due to be presented to lawmakers on Wednesday. “This proposal centers affordability, competitiveness, and equity each step of the way, delivering relief to those who need it most and making reforms that will attract and retain more
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Greenberg Traurig gained five public finance lawyers who joined the law firm’s Houston office this month from Orrick.  Adrian Patterson, who served as Houston office leader at Orrick, joined Greenberg as a shareholder, along with Robert Collie and James Hernandez as of counsels, and Noe Hinojosa III and Donna McIntosh as associates, the law firm
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The U.S. Treasury resumed operations of its Office of Recovery Programs Contact Center on Feb. 21, providing local governments with an important link to the federal agency as they seek to complY with the conditions governing the federal money. The help desk fielded about 300 calls and about 2,000 emails a week before shuttering last October
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Flanked by officials from the Port Authority of New York and New Jersey, New York Gov. Kathy Hochul on Thursday hosted a groundbreaking for a terminal project she said will cap John F. Kennedy International Airport’s $18 billion redevelopment. “The groundbreaking offers a complete vision for the modernized global gateway,” Hochul said at a ceremony held
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Municipals were mixed to end the week as U.S. Treasury yields rose double-digits five years and in and equities ended down. The three-year muni-UST ratio was at 61%, the five-year at 62%, the 10-year at 66% and the 30-year at 91%, according to Refinitiv MMD’s 3 p.m. ET read. ICE Data Services had the three
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S&P Global Ratings upgraded Illinois by one notch Thursday for ongoing progress in chipping away at its debts and rebuilding its rainy day fund. The action — lifting $26.5 billion of general obligation bonds to A-minus from BBB-plus — puts the state back into the single-A category for the first time in seven years and
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A municipal fintech platform for asset management firms, banks, insurance companies, and municipal advisors is being developed by Assured Guaranty’s new subsidiary, AG Analytics. The platform intends to deliver best-in-class technology and turnkey solutions to replace fragmented data resources used by municipal asset managers, analysts and other market participants. “Many asset managers are using too
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Rejecting nearly all of the challenges to its disclosure statement and plan of adjustment in the Puerto Rico Electric Power Authority bankruptcy, the Puerto Rico Oversight Board attempted to explain why National Public Finance Guarantee could get preferential treatment. National’s treatment is permissible since it is supported by a “legitimate basis,” the board said, citing
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A bill introduced in California’s legislature would prohibit banks or lenders with business customers that manufacture firearms from working on the state’s public finances. Senate Bill 637, introduced Thursday by California Sen. Dave Min, D-Costa Mesa, applies to every aspect of the state’s public finances including municipal bonds, capital projects and the state’s debt portfolio,
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Transcription below:Chip Barnett:Hi and welcome to another Bond Buyer podcast. I’m Chip Barnett and my guest today is New York State Controller Thomas DiNapoli. And we’re going to be taking a look at New York State, the challenges it’s facing and the opportunities that lie ahead. Welcome to The Bon Buyer Comptroller DiNapoli. Thomas DiNapoli:It
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Tax-exempt bonds for sports stadiums are once again in the crosshairs under a bill introduced this week by Oregon Democrat Rep. Earl Blumenauer. The bill would amend the tax code – or “close a loophole,” as Blumenauer said – to eliminate the federal tax exemption for bonds that finance or refinance capital expenditures for a
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