Bonds

Mississippi’s $1.2 billion general obligation bond commands the stage this week, but a much smaller deal that came to market last month from Vicksburg highlights an innovative way the Magnolia State’s cities and counties are meeting their infrastructure needs. On Thursday, the state is pricing $1.2 billion of GOs, its biggest sale since 2015, when
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Updated economic and fiscal data from The Pew Charitable Trusts on how state economies are faring amidst the pandemic shows that federal aid to people and businesses has kept states in better than expected fiscal health. Pew’s data, which was collected from each state’s annual financial reports for a 10-year period, also show that long-term
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President Joe Biden Monday signed into law a $1.1 trillion infrastructure package that will infuse billions into state and local governments. “We’re taking a monumental step forward to build back better as a nation,” said Biden at a White House ceremony attended by lawmakers, governors, mayors and others. “Things are going to turn around in
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The Municipal Securities Rulemaking Board has re-established two key advisory groups for its 2022 fiscal year: the Compliance Advisory Group (CAG) and the Municipal Fund Securities Advisory Group (MFSAG). The MSRB is also seeking input on topics it should consider in developing compliance resources and tools for municipal fund securities. In a November 11 announcement,
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Municipal bonds were slightly weaker Friday inside 10 years, but trading was light and munis still outperformed U.S. Treasuries, which weakened further on the day from Wednesday’s large sell-off. Investors put nearly $2 billion into municipal bond mutual funds for the most recent week with high-yield reversing a downward course to hit $1.2 billion following
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Gov. Phil Murphy’s surprisingly narrow re-election victory and Senate President Steve Sweeney’s stunning loss to an unknown resonated well beyond New Jersey. National pundits flagged the election-night drama, along with Republican Glenn Youngkin’s gubernatorial victory in Virginia over Terry McAuliffe and other developments, as warning signs for Democrats heading into national midterm elections. New Jersey
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The jockeying has begun among Illinois political leaders, labor and planning organizations as they stake out their priorities for the state’s more than $17 billion share of the $1.2 trillion infrastructure bill that awaits President Biden’s signature. State Senate President Don Harmon and House Speaker Emanuel “Chris” Welch, both Democrats, put their support behind the
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Connecticut Treasury has selected State Street Bank & Trust as the master custodian bank for the $61 billion Connecticut Retirement Plan and Trust Funds and the internally managed funds, state Treasurer Shawn Wooden announced. Boston-based State Street will also be an investment account manager for Connecticut’s $12.5 billion Short-Term Investment Fund, or STIF. Wooden’s office
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Municipals were steady on Monday as all eyes were on the more than $9 billion of supply headed to the primary in a holiday-shortened week. “The municipal market is focused on the number of deals being priced Tuesday and Wednesday,” a New York underwriter said Monday, pointing to the Veteran’s Day market close on Thursday.
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Moody’s Investors Service returned Chicago O’Hare International Airport’s outlook to stable as traffic levels rebound from last year’s pandemic-induced drop and the city slows its pace of borrowing for the facility. All four rating agencies moved the airport’s outlook to negative in 2020 as the pandemic crippled air travel. The three others had previously restored
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