Bonds

Illinois saw an uptick in its fiscal fortunes in the past fiscal year, one of the few times the state’s net position has improved since that figure swung from black to red in to red in 2002. The net position includes tax collections and government services and measures the state’s assets relative to its total

Total 2023 municipal bond volume fell slightly from 2022 as market volatility, higher interest rates, pandemic aid and slower economic growth kept issuers on the sidelines. However, a robust fourth quarter buoyed issuance for the year, so volume only ticked down 2.8%, much better than previous quarters where issuance was down double digits. The year

Medford, Oregon-based hospital nonprofit Asante Health had its A-plus rating, with negative outlook, affirmed by Fitch Ratings at year-end as it works toward completion of a new building at its flagship hospital. Fitch said in a report Tuesday that it maintained the negative outlook, first assigned in January, because “Asante continues to record weakened operational

Municipals were quietly traded and little changed in the last session of 2023 while U.S. Treasuries were mixed and equities were in the red near the close. The two-year muni-to-Treasury ratio Friday was at 59%, the three-year at 59%, the five-year at 59%, the 10-year at 59% and the 30-year at 86%, according to Refinitiv

Municipals were steady to firmer Thursday as outflows returned. U.S. Treasury yields rose and equities ended up. The two-year muni-to-Treasury ratio Thursday was at 59%, the three-year at 59%, the five-year at 59%, the 10-year at 59% and the 30-year at 86%, according to Refinitiv Municipal Market Data’s 3 p.m. EST read. ICE Data Services

The muni market saw a large uptick in taxable bond tenders as issuers saw an opportunity to restructure their debt portfolios to unload taxables that have been trading at deep discounts. Taxable bonds that could be replaced with tax-exempt debt “has been the main target market segment for bond tenders as late (close to 60% of total),

Municipals were steady to slightly firmer Wednesday as inflows returned to muni mutual funds. U.S. Treasury yields fell and equities ended up. The two-year muni-to-Treasury ratio Wednesday was at 60%, the three-year at 60%, the five-year at 60%, the 10-year at 60% and the 30-year at 87%, according to Refinitiv Municipal Market Data’s 3 p.m.

The Riverside County Transportation Commission, California, won a Fitch Ratings upgrade for a $152.2 million Transportation Infrastructure Finance and Innovation Act senior loan. Fitch lifted the rating on the TIFIA debt to BBB-plus from BBB-minus. The rating outlook is stable. The funding supports a managed lane project on Interstate 15 in a 15-mile stretch through

Municipals were steady Tuesday as the last week of the year got underway. U.S. Treasuries were little changed and equities ended up. The two-year muni-to-Treasury ratio Tuesday was at 59%, the three-year at 59%, the five-year at 59%, the 10-year at 59% and the 30-year at 86%, according to Refinitiv Municipal Market Data’s 3 p.m.

A controversial proposed pipeline to carry Colorado River water to the southwest corner of Utah is under attack from conservation groups that are urging the federal government to cancel the project.  The Lake Powell Pipeline would transport as much as 83,700 acre-feet of water per year from the Lake Powell reservoir to Washington County, Utah,

Fitch Ratings has raised the Illinois Sports Facilities Authority’s bonds to investment grade, bumping the authority’s rating two notches to BBB from BB-plus, with a rating outlook of stable.  The ISFA issued bonds for Guaranteed Rate Field, home of the Major League Baseball Chicago White Sox, and Soldier Field, home, at least for now, of

News of the $68 billion budget deficit projected for California in fiscal years 2022-23 and 2023-24 raised alarm bells. But several state budget watchers say longer-term trends are less worrying. Though S&P Global Ratings revised the state’s outlook to stable from positive Friday, the rating agency has said the state remains solidly in the double-A

Cities and states saw pension liabilities rise in fiscal 2022 amid negative market returns even as they significantly boosted contributions with the support of federal stimulus aid. Those are the findings of a new white paper, “State and Local Pension Funds 2022,” which reviews the performance of 648 pension funds making up 90% of all

When experts predicted what they expected for the economy in 2023, most saw a recession coming and some saw the Federal Reserve cutting its rate target. But the economy surprised to the upside, with no signs of recession, and the Fed is now expected to cut rates in 2024. Here are what some experts foresee

Housing advocates in Dallas are pushing for a $200 million share of a $1.1 billion general obligation bond proposition city officials want to place on the ballot next year. The city is becoming unaffordable, according to Bryan Tony, organizer of the Dallas Housing Coalition, which was formed in June as a unified voice for greater

Municipals were steady to close Friday ahead of a week without new deals on the calendar. U.S. Treasuries were weaker out long and equities ended the session up. The two-year muni-to-Treasury ratio Friday was at 58%, the three-year at 59%, the five-year at 59%, the 10-year at 58% and the 30-year at 85%, according to

Florida’s unemployment rate inched up to 2.9% in November from 2.8% in October, Florida Commerce reported on Friday. Florida’s jobless rate was 0.8 percentage point lower than the 3.7% national rate in November, the 37th straight month the state’s unemployment rate remained below that of the nation as a whole. The state’s overall workforce continued

Arizona’s Water Infrastructure Financing Authority will begin a solicitation process next year for projects to boost the parched state’s water supply using information gleaned from a query it sent out this fall. The agency, which oversees $1 billion the state legislature in 2022 appropriated over three years for water augmentation, received 28 responses to its

Municipals were little changed Thursday as inflows to municipal bond mutual funds returned. U.S. Treasuries were weaker five years and out, and equities ended up. The two-year muni-to-Treasury ratio Thursday was at 58%, the three-year at 59%, the five-year at 59%, the 10-year at 59% and the 30-year at 86%, according to Refinitiv Municipal Market

Nassau County, New York, economically defeased $97.79 million of bonds on Monday through the deposit of cash with an escrow agent. The action will reduce its debt burden by $13.5 million in 2024 and by over $20 million in each year through 2029, totaling $115.9 million, according to the county. “Paying off this debt will