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Municipals were little changed Wednesday as the primary market saw another busy day, led by an upsized $2.5 billion from the New York City Transitional Finance Authority and $1.3 billion from the Regents of the University of California. U.S. Treasuries were slightly firmer and equities were mixed toward the close. The two-year muni-to-Treasury ratio Wednesday
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Municipals were firmer in secondary trading Tuesday as the primary market picked up steam, while U.S. Treasury yields fell and equities ended up. The two-year muni-to-Treasury ratio Tuesday was at 65%, the three-year at 66%, the five-year at 68%, the 10-year at 67% and the 30-year at 84%, according to Refinitiv Municipal Market Data’s 3
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The International Monetary Fund warned Tuesday that upside risks to inflation have increased, calling into question the prospect of multiple Federal Reserve interest rate cuts this year.  In its latest World Economic Outlook update, the IMF said “the momentum on global disinflation is slowing, signaling bumps along the path.” The rise in sequential inflation in
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With San Francisco facing record high commercial vacancies, one mayoral candidate has a plan to reshape the city’s business district and surrounding areas. Democrat Mark Farrell, former interim Mayor, is proposing a 20-year vision to revitalize San Francisco’s downtown in a bid to help the city bounce back from challenges exacerbated by the pandemic. His
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U.S. states are expected to cut their budgets, marking a return to more modest levels of spending after years of stimulus-fueled growth and tax cuts.  Total general-fund spending is expected to fall to $1.2 trillion in fiscal 2025, according to an analysis by the The Pew Charitable Trusts. That’s a roughly 6% decline from estimates of
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Phoenix returns to the municipal market this week with its first new money general obligation bond issue in 12 years and a plan to be a more frequent borrower using that credit source in the future. Kathleen Gitkin, the city’s chief financial officer, said she has high expectations for the $238.8 million tax-exempt and taxable
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Oscar Wong | Moment | Getty Images Not every renter wanting to buy a home dreams of ditching their lease. Some wish to remain tenants even as they become landlords. The concept behind “rentvesting” is that an individual rents their primary residence in one city and then buys an investment property somewhere else that they
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Ohio state legislators are considering a bill that would bar the state’s pension systems, state colleges and universities and the Bureau of Workers’ Compensation from prioritizing environment, social and governance factors when making investment decisions.  Ohio’s Senate Bill 6 passed the state Senate on May 10 by a vote of 26 to 7, with senators
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The North Carolina Local Government Commission failed to approve Cabarrus County’s requests for bonds totaling $228 million Tuesday — although the panel’s staff recommended approval — with some on the board saying the bonds should face a voter referendum before the commission considers them. Some commission members objected to the county’s use of bond anticipation
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