Bonds

The Municipal Securities Rulemaking Board will continue its efforts to improve post-trade transparency, as it plans to discuss a potential request for comment on Rule G-47 on time of trade disclosures during its quarterly meeting July 27-28. “The Board will discuss the status of its ongoing retrospective rule review and consider authorizing a new request

Municipals were steady to firmer in spots in lighter secondary trading amid an active primary while U.S. Treasuries were range-bound and equities were in the black. Muni to UST ratios were at 62% in five years, 80% in 10 years and 95% in 30 years, according to Refinitiv MMD’s 3 p.m. read. ICE Data Services

Massachusetts plans to bring $2.7 billion of taxable business-tax backed special obligation revenue bonds with a social designation, marking the largest environmental, social and governance deal to date in the municipal market. The deal is also one of the larger taxable deals in 2022 in a year that has seen a significant drop in taxable

Los Angeles International Airport received a $50 million grant from the federal infrastructure bill for terminal road improvements, among the largest dispersed from the $1 billion allocated to 85 airports nationally. The grants are the first allotment in a five-year, $5 billion airport terminal grant program funded by the Infrastructure Investment and Jobs Act, Transportation

The Supreme Court decision in Carson v. Makin may render unconstitutional issuer statutes that prohibit the use of bond proceeds for religious purposes. The court ruled last month that if a state chooses to subsidize private education, it cannot disqualify some private schools solely because of religious affiliation. The ruling could change the way some

Municipals were mixed to close out a quiet summer Friday session ahead of a larger new-issue calendar that sees several billion-dollar deals. Triple-A benchmark yields once again largely ignored a selloff in U.S. Treasuries after a robust jobs report indicated the Federal Reserve will likely hike interest rates another 75 basis points at its next

Chicago officials will welcome the buy-side back for an in-person event Aug. 11 during which its COVID-19 pandemic fiscal recovery efforts will take center stage as the city looks to court investors ahead of billions of planned borrowing this year. The annual conference gives Mayor Lori Lightfoot’s administration an opportunity to update the buy-side on healthier

Municipals were steady to firmer in secondary trading Thursday as a large airport revenue bond offering from the City and County of Denver, Colorado, and the Triborough Bridge and Tunnel Authority’s MTA deal took the focus. Municipals continued to ignore the movements of U.S. Treasuries, which saw yields rise for the second day, while equities

Municipals rallied Wednesday, ignoring a selloff in U.S. Treasuries, after the Federal Open Market Committee meeting minutes reiterated the Fed’s position it would raise rates 50 to 75 basis points at its July meeting to stave off inflation. Equities ended slightly up.. Municipals were in their own lane Wednesday and triple-A yields fell four to

Michigan’s approved fiscal 2023 budget boosts the rainy day fund to a new peak and sends $2.6 billion to public pension plans, but tougher discussions lie ahead over the fate of billions in remaining revenues left on the table. Officials differ over what type of tax relief to provide with a portion of those billions.

Municipal yields fell for the third session in a row following the flight-to-safety bid in U.S. Treasuries as recession concerns continue to grow. Equities were mixed. Triple-A benchmark yields were bumped three to six basis points Tuesday with the strongest moves out long. Falling yields over the past two weeks have been “a welcome sigh

The once notoriously opaque municipal bond market has experienced many changes that have improved disclosure over the years. Among those was the creation of the Municipal Securities Rulemaking Board’s EMMA website where issuers have posted bond and disclosure documents since 2009. Improved disclosure in the market is due largely to people, like Mary Colby, who

An income tax on wealthy Californians that supporters say would raise $100 billion over 20 years to reduce wildfire risk and support a transition to electric cars, has qualified for the ballot. A coalition of environmental groups, public health advocates, firefighters and unions, collected 1 million signatures, well over the 623,212 needed, to qualify The

Elizabeth Reich, who wrapped up her final day as Dallas chief financial officer on Thursday, will be joining Dallas Area Rapid Transit starting July 18. DART announced on Friday that Reich, as its new CFO, will be a key member of the executive team, reporting to President & CEO Nadine Lee and leading the agency’s

The Puerto Rico Oversight Board again imposed the fiscal 2023 budget on the Puerto Rico’s central government. While the board had reached a consensus budget with the local legislature and Gov. Pedro Pierluisi in June 2021 for fiscal 2022, there was little cooperation with the board this year, said Board Member Antonio Medina. The Puerto

Municipals were stronger following along with, but underperforming U.S. Treasuries, which extended their rally and saw yields fall even further to start the second half of the year on continued recessionary fears. Equities ended in the black. Triple-A yields fell by four to seven basis points while USTs saw yields fall by up to 16

A new fund dedicated to advancing social equity and led by an NBA veteran and a leading municipal firm is moving into New York State’s growing cannabis industry. Social Equity Impact Ventures, LLC, a premier minority-led investment team, will sponsor and manage the New York Social Equity Cannabis Investment Fund. This first-of-its-kind $200 million fund will be

Analysts expect climate change, combined with the political realities of either addressing the effects of it or not, will have increasing impacts on municipal credit in the coming years. Droughts, fires, flooding, changed temperature patterns, reduced snow cover, and higher sea levels may all come from climate change and all have the potential to impact

Susan Collins officially took office Friday as the president of the Federal Reserve Bank of Boston, making history in becoming the first Black woman to lead a regional Fed bank.  Collins comes from the University of Michigan, where she worked for 15 years, serving most recently as provost and previously as dean of the Gerald

Denver International Airport returns to the municipal market next week to complete financing for its current capital improvement plan, boosted by a rating upgrade as it continues to recover from passenger and revenue losses due to the COVID-19 pandemic. The $1.5 billion deal consists of $1.375 billion of senior lien bonds subject to the alternative