Bonds

Municipals were weaker Tuesday as triple-A yields rose in sympathy with U.S. Treasuries. Equities ended the session down ahead of the close of the Federal Open Markets Committee meeting Wednesday. Triple-A yields were cut two to seven basis points, depending on the scale, while UST yields rose four to six basis points, pushing the two-,

California’s revenues for August came in $1.3 billion above projections putting the state $75 million above the $21.9 billion expected for the first two months of the fiscal year, according to the Department of Finance. The revenues of $1.3 billion were 11.1% above the forecast of $12.16 billion, as receipts from nearly all revenue sources

Georgia Gov. Brian Kemp has suspended his state’s gasoline tax for one month as prices at the pump continue to increase. Kemp cited high fuel costs and persistent inflation when he declared a legal state of emergency last week and signed an executive order suspending Georgia’s 31.2 cents-per-gallon tax on gas and 35-cents-per-gallon tax on

It’s a foregone conclusion the Federal Open Market Committee won’t raise the fed funds target rate at its Sept. 19-20 meeting, so the market will concentrate on the updated Summary of Economic Projections and Chair Jerome Powell’s press conference. “The Fed will try to deliver a hawkish hold on September 20, also driving home the

For a market anchored by self-regulation and tax-exemption, creeping regulation and political crossfire are nothing new, but also show no sign of abating — look no further than the Securities and Exchange Commission’s “regulation by enforcement” and the hyper-politicization of environmental, social and governance investing factors. That’s the message from a group of municipal market

As the appropriations tug of war goes back and forth in Congress, municipalities are concerned about a wide range of federally-supported infrastructure projects which might end up on the chopping block. The National Association of Counties is already ringing a warning bell via a letter addressed to both chambers of Congress imploring the need  to “prioritize federal

Port and shipping industry experts discussed the past and future of New York and New Jersey’s ports at an event hosted by the Federal Reserve Bank of New York this month. The “Ports of Tomorrow” event was carried out in partnership with the Port Authority of New York and New Jersey and the Regional Plan

Municipals were a touch weaker to close out the week ahead of a smaller new-issue calendar and the Federal Open Market Committee meeting. U.S. Treasuries closed out weaker while equities were in the red. Triple-A yields rose one to three basis points, depending on the curve, while USTs rose three to four. The two-year muni-to-Treasury

Guam Gov. Lourdes Leon Guerrero let a Senate-passed $1.168 billion budget go into law without her signature, despite her concerns about use of a rainy-day fund, executive branch appropriation and “phantom” revenues. The Senate passed the budget on Aug. 30, with nine Democrats voting in favor and six Republicans voting against. Leon Guerrero, a Democrat,

As transit agencies across the country face a dreaded fiscal cliff when federal stimulus dollars dry up, those agencies that win permanent revenue from their states and local governments will boost their profile while others will see their credit erode. That’s the view of experts who spoke at a transit panel Wednesday at The Bond

Municipals were little changed Thursday as U.S. Treasuries were weaker and equities rallied. The two-year muni-to-Treasury ratio Thursday was at 63%, the three-year was at 64%, the five-year at 66%, the 10-year at 70% and the 30-year at 90%, according to Refinitiv MMD’s 3 p.m. read. ICE Data Services had the two-year at 64%, the

A record number of tourists came to New York State last year, pumping more than $78.6 billion of direct spending into the local economy. The 291.5 million tourists who visited the Empire State also generated roughly $123 billion in financial impact for the economy in 2022, according to reports issued by Tourism Economics on Wednesday.

Municipals were slightly weaker in spots Wednesday, largely ignoring the mixed reactions of other markets following the release of a hotter-than-expected consumer price index figure. The focus was on the primary where the Dormitory Authority of the State of New York priced for institutions with yields lowered by up to five basis points from the

“My goal, whether I was in muni finance or any other part of the investment management industry, was to support females and help them advance,” Regina Gaysina said. Title: DirectorFirm: RBC Capital MarketsAge: 34 Regina Gaysina is the most active K-12 municipal financial advisor in New Mexico — and the only woman in her role

“We do different stuff for school districts than we do for anybody else,” said Mattie Prodanovic. Title: Senior Vice PresidentFirm: HilltopSecuritiesAge: 33 Having the right professor at the right time can make all the difference. Mattie Prodanovic enrolled at the Harris School of Public Policy at the University of Chicago thinking the public policy master’s degree she earned

Municipals were mixed in secondary trading Tuesday amid an active primary that saw two large airport deals from Dallas-Fort Worth and Atlanta price. U.S. Treasuries were also mixed, and equities sold off. The two-year muni-to-Treasury ratio Tuesday was at 63%, the three-year at 63%, the five-year at 63%, the 10-year at 65% and the 30-year

Puerto Rico’s local government received another strike against its efforts to change its labor laws after the U.S. Court of Appeals for the First Circuit Thursday ruled the U.S. District Court for Puerto Rico in March was correct in upholding the Oversight Board’s right to reject a 2022 labor law. The law, Act 41, did

Annual tax revenue collection in Massachusetts fell by 4.7% in fiscal year 2023, the State Department of Revenue announced in its yearly report released Friday. The state collected $39.2 billion in fiscal 2023, $1.94 billion less than in fiscal 2022 and 1.5% below the state’s set benchmark, the report said. Officials attributed the year-over-year dip

After more than 35 years in the public finance industry, the last 15 at Fitch Ratings, Ann Flynn has retired. Flynn’s seat on the Northeast Women in Public Finance board is now held by Arlene Bohner, Fitch’s head of U.S. public finance, whom Flynn hired. Bohner said she hopes to carry on Flynn’s commitment to

A “substantial number” of Puerto Rico Electric Power Authority bondholders agreed in principle to a settlement, the Puerto Rico Oversight Board announced Thursday afternoon. As a result, the board sought and received an extension to Aug. 18 for the deadline to submit a proposed plan of adjustment. Board Spokesman Matthias Rieker said the board wouldn’t