Bonds

The Metropolitan Pier and Exposition Authority’s tourism-related taxes — which took a pandemic-driven beating — have generated enough revenue to meet this year’s scaled-down debt service but challenges loom as debt service ramps up. The agency last year restructured debt service coming due in fiscal 2022, providing some breathing room by lowering the overall tab

Municipals were steady to firmer in spots Monday, while U.S. Treasuries strengthened inside five years but key parts of the curve remained inverted while equities ended in the black. Triple-A municipal yield curves were relatively stable, while the two-, three-, five- and seven-year UST were still sitting above the 10- and 30-year. More activity surfaced

The Texas municipal bond market is still trying to sort out new state laws that apply litmus tests for banks and others seeking contracts with governmental entities amid expectations that more restrictions tied to corporate policy decisions are coming, according to speakers at last week’s Bond Buyer Texas Public Finance Conference. The Republican-controlled legislature last

Puerto Rico bankruptcy Judge Laura Taylor Swain designated the mediators and named the participants in the debt resolution process for the Puerto Rico Electric Power Authority but excluded the legislature from the list of participants. On Friday morning she named U.S. Bankruptcy Judge for the Southern District of New York Shelley Chapman to lead the

House Speaker Nancy Pelosi Thursday threw cold water on measures to suspend the federal gas tax, warning the move would deplete the Highway Trust Fund and not necessarily translate into savings at the pump. Pelosi called the idea of a federal gas tax holiday “very showbiz” and said it would mainly benefit the oil companies,

Improved state revenue collections and federal COVID-related relief funds enabled Washington lawmakers to add $5 billion in spending to the supplemental budget signed by Gov. Jay Inslee Thursday. The $64.1 billion supplemental budget builds off of the $59 billion, two-year spending plan adopted by the Legislature last year. It includes $2 billion toward a 16-year,

Larry Wiemer II took over last month as executive director of the Wisconsin Health and Educational Facilities Authority after three decades working in key financial roles for healthcare providers and other not-for-profits. The agency conducted a national search to fill the shoes of Dennis Reilly who spent 26 years at the state conduit including the

Municipals were mostly steady to close out the week, but the 30-year U.S. Treasury ended lower than the entire short end of the curve,increasing fears about the rising possibility of a recession, while equities ended in the black. Triple-A municipal yield curves were relatively stable, while the two-, three-, five- and seven-year UST ended higher

For the first time since 2005, S&P Global Ratings has raised its rating on New Jersey’s general obligation bonds. S&P raised the Garden State’s GOs to A-minus from BBB-plus. The outlook is stable outlook. S&P also raised its long-term and underlying ratings to BBB-plus from BBB on various other bonds secured by annual appropriations from

Municipals were better Thursday as triple-A benchmark yields fell while U.S. Treasuries were mostly steady and equities ended down. Triple-A municipal yield curves saw one to four basis point bumps. . Muni to UST ratios were at 82% in five years, 94% in 10 years and 104% in 30, according to Refinitiv MMD’s 3 p.m.

Los Angeles’ finance team will be counting on its wastewater system’s record as “a large and frequent issuer with strong market access” when it prices $168.4 million in wastewater revenue bonds next week. The city comes to market after it took a reputational hit last summer when a system failure at its Hyperion Water Reclamation

Municipals were steady to firmer in spots with triple-A benchmark yields falling for the first time since March 17 and large new issues saw bumps in repricings as conditions improved. U.S. Treasuries strengthened, but parts of the yield curve remained inverted, while equities sold off. Triple-A municipal yield curves saw bumps up to five basis

Michigan Gov. Gretchen Whitmer signed legislation Wednesday that pours $4.7 billion of federal funds and state surplus revenues into spending on roads and water, transit, housing, and park projects. The package approved in a bipartisan vote last week pumps $1 billion into drinking water projects including $325 million to replace lead service lines, $712 million

Municipals were weaker on Tuesday, most pronounced on the short end again, while U.S. Treasuries pared back some losses but the curve remained inverted while equities rallied after Ukraine and Russia signaled they are open to talks. Triple-A municipal yield curves saw cuts up to five basis points on the short end while the three-year

Transcription:00;00;03;16 – 00;00;24;27Chip BarnettHi and welcome to another Bond Buyer podcast. I’m Chip Barnett. My guest today is Nora Wittstruck. She’s senior director and ESG sector leader at S&P Global Ratings. And we’re going to be talking about climate change and sea level rise and how it’s going to affect South Florida and many other

Municipals were weaker Monday, moving the five-year muni above 2% while the U.S. Treasury curve inverted and equities ended in the black. Triple-A municipal yield curves saw cuts up to six basis points on the short end while the three- and five-year UST ended higher than the 30-year. Muni to UST ratios were at 78%

Four and half years after hurricanes Maria and Irma battered Puerto Rico, followed by the COVID-19 pandemic, federal reconstruction aid is still ramping up and analysts say that money could be structured to do more for the territory’s economy as it emerges from bankruptcy. The federal government has allocated $71.5 billion of hurricane reconstruction funds

In 2008, a consortium of private firms offered Pennsylvania $12.8 billion for a 75-year lease of the Pennsylvania Turnpike. Then-Gov. Edward Rendell favored the deal, saying it would mean $1 billion annually for the state’s aging roads and bridges over the next decade. But many lawmakers, voters and the Pennsylvania Turnpike Commission opposed the deal.

Ten states reached full pre-pandemic employment levels in January, according to Fitch Ratings. Five of these states are in the Southeast — Florida, Tennessee, North Carolina, Georgia and Arkansas — while Montana, Utah, Idaho, Texas and Arizona also hit the milestone during the first month of the year, Fitch said in a report released Thursday.

Investors could face a run on money market funds in the coming months as interest rate increases and liquidity concerns begin to mount, potentially impacting the market for certain types of municipal debt. The threat was articulated in the Federal Reserve Bank of New York’s March 2022 report on money market fund vulnerabilities. “From their