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The Guam Power Authority plans to sell about $64 million of revenue refunding bonds in mid-July. The board of the Guam Consolidated Commission on Utilities on Tuesday approved the deal unanimously. The Guam legislature and Gov. Lourdes Leon Guerrero have already approved it. The Guam Public Utilities Commission was expected to approve it Thursday, said

Cabrera Capital Markets has hired ex-Citi banker Tom Rasmussen as a managing director to head municipal sales, trading and underwriting as it climbs up the rankings. Rasmussen, who worked at Citi for more than 33 years running and forming teams, said he couldn’t say no to the opportunity to run Cabrera’s municipal trading and sales

A pair of top Congressional Republicans Wednesday opened an investigation into the Biden administration’s allocation of billions of federal dollars to California’s ambitious and pricey high-speed train project. Rep. Sam Graves, R-Mo., chair of the the House Transportation and Infrastructure Committee, and Sen. Ted Cruz, R-Texas, top Republican on the Senate Commerce Committee, sent Transportation

Municipals sold off Wednesday following another weaker U.S. Treasury session while equities were down near the close. Muni yields rose two to 13 basis points, depending on the curve, coming on the tailwind of a market correction, said Brad Libby, a fixed-income portfolio manager and credit analyst at Hartford Funds. Mixed economic data has been

Separately managed accounts have grown rapidly following the financial crisis, partly buoyed by greater adoption of electronic trading. SMAs may hold as much as $1.5 trillion of munis, according to some market participants, while others peg it closer to $1 trillion to $1.3 trillion. Regardless of the total, this is up exponentially from the $100

Dallas would ramp up contributions to its Police and Fire Pension System over five years and could pursue additional funding options, including pension obligation bonds and using a portion of sales taxes earmarked for mass transit, under recommendations presented to a city council committee.  Jack Ireland, Dallas’ chief financial officer, told the Ad Hoc Committee

Colorado Gov. Jared Polis declared “the long wait is over” as he cheered the Biden administration’s action this month to reclassify marijuana in the eyes of the federal government.  The move, which is now in a public comment period, would change marijuana from a Schedule I drug on par with heroin and LSD to Schedule

The Municipal Securities Rulemaking Board has retired nine separate pieces of interpretive guidance related to Rule G-12(c) on inter-dealer confirmations following the board’s request for comment on the rule. The move follows recent comments submitted by the Securities Industry and Financial Markets Association that urged the board to knock out the provision altogether, and the