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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

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

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

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

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

A subsidiary of Spanish highway operator Abertis is considering borrowing $424 million to fund capital projects for four Puerto Rico toll roads.  The Public Finance Authority, a Wisconsin-based conduit issuer, approved the municipal bond sale for Puerto Rico Toll Roads LLC, at a June 26 board meeting. PFA would loan the proceeds it borrows to

The Securities and Exchange Commission has approved the Municipal Securities Rulemaking Board’s amendments to Rule G-47 on time of trade disclosure, adding three disclosure scenarios, retiring some existing guidance and clarifying some supplemental information. The amendments were filed with the Commission in April and the amendments themselves were discussed and approved at the MSRB’s quarterly

In light of the U.S. Supreme Court’s recent reversal of the so-called Chevron doctrine, House Republican leaders Wednesday launched a review of the Biden administration’s environmental, social and governance agency regulations. House Transportation and Infrastructure Committee Chair Rep. Sam Graves, R-Mo., and Rep. James Comer, R-Ky., chair of the House Oversight Committee, sent letters this