Bonds

Municipal bonds were little changed Monday, ignoring volatility in the stock market and a softer U.S. Treasury market. Triple-A municipal benchmark yields were steady to a touch firmer as the market awaits a sizable calendar led by a large taxable Alabama general obligation deal and a diverse set of credits from airports to charter schools

Municipals were little changed with a softer tone Thursday while municipal bond mutual funds saw a drop in inflows to $408 million and high yield saw its first outflows since March 3. For 30 straight weeks, investors put cash into municipal bond funds although their confidence may be waning, according to data released Thursday. Refinitiv

As executive vice president and chief financial officer of Pittsburgh International Airport, Eric Sprys knows of the city’s dark industrial days. “I hear those stories all the time,” he said. Now the airport itself is the latest example of Pittsburgh’s modernization. It is scheduled to break ground Oct. 14 for its $1.4 billion 700,000-square-foot terminal.

The Puerto Rico House of Representatives approved a bond restructuring bill Thursday night contingent on there being no cuts to government pensions. On Monday, the Puerto Rico Oversight Board said it was willing to raise the threshold for pensions to be cut to $2,000 or more per month from its previous threshold of $1,500 or

The Municipal Securities Rulemaking Board expects to spend $43.3 million during the fiscal year that began Friday, releasing a FY 2022 budget highlighting investments in technology and a focus on upholding the public trust. “Informed by extensive engagement with our stakeholders, we are making strategic investments focused on strengthening the capital market that facilitates economic

The municipal secondary was quiet after a volatile week that moved municipal rates higher and ratios into a range that investors say are a more satisfactory level to engage in the asset class following months of stagnant rates. Triple-A benchmarks were little changed Friday while U.S. Treasuries ended the week at lower yields — sub

Michigan entered fiscal 2022 Friday with a new budget director and a $70 billion budget after Gov. Gretchen Whitmer signed the final pieces that were negotiated with lawmakers amid a flood of federal relief and surging state tax revenues. On Thursday, Whitmer named Christopher Harkins, director of the Michigan Senate Fiscal Agency, to replace outgoing

Federal authorities dropped the hammer Thursday on the former head of fixed income trading at the now defunct Atlanta-based IFS Securities Inc. for allegedly engaging in unauthorized and speculative trading activity that bankrupted the firm. The U.S. Attorney’s Office for the Northern District of Illinois and the Securities and Exchange Commission filed criminal and civil

September municipal bond issuance volume fell 32.6% year-over-year as a massive drop in taxable and refunding issuance puts the market slightly behind 2020’s record-breaking pace. Total September volume was $36.085 billion in 856 deals versus $53.513 billion in 1,395 issues a year earlier. Taxable issuance totaled $6.533 billion in 152 issues, down 63.6% from $17.945

Municipals were slightly weaker outside of five years Wednesday, with triple-A benchmarks cutting levels by a basis point or two, after four days of a correction to higher yields not seen since February and March of this year. U.S. Treasuries pulled back from Tuesday’s losses earlier in the morning, but yields rose into the afternoon

Federal Reserve Chair Jerome Powell and his counterparts at the European Central Bank, Bank of Japan and Bank of England voiced cautious optimism Wednesday that supply-chain disruptions lifting inflation rates around the world would ultimately prove temporary. “The current inflation spike is really a consequence of supply constraints meeting very strong demand, and that is

Tarrant County, Texas, will be authorized to issue $400 million of transportation bonds if voters approve the proposal Nov. 2. The bond issue by the fast-growing county that includes Fort Worth and its booming suburbs would be its first for transportation since 2006. Proposition A splits the $400 million into two categories. Half of the

State and local governments would be encouraged to consider public-private partnerships for complicated projects like rural broadband or large transportation developments under the bipartisan infrastructure bill being debated by Congress this week. The legislation doubles private activity bond volume for surface transportation projects to $30 billion from $15 billion, a central financing tool for P3

WASHINGTON — Robert Kaplan, the president of the Federal Reserve Bank of Dallas, announced that he would step down next week, just hours after Boston Fed President Eric Rosengren said he would resign. Kaplan said Monday afternoon he wanted “to eliminate any distractions” at the Fed after it was revealed that he had engaged in

Dan Hynes, the former Illinois deputy governor for budget and the economy, joined Jefferies LLC this month where he will work to elevate the firm’s presence in the state and in the broader Midwest. Hynes hopes to parlay his public experience “in the trenches” of state government to build on the firm’s Illinois and Midwest

Problems distributing ballots to potential voters on the Puerto Rico Plan of Adjustment have led to calls to push back the Oct. 4 voting deadline, and this may potentially push back the plan confirmation. The Official Committee of Retired Employees on Thursday filed a motion to have the deadline pushed from 5 p.m., Oct. 4

California Gov. Gavin Newsom signed 24 bills that allocate $15 billion to further the state’s efforts to combat climate change, drought and wildfires. The total includes additional funding agreed to by the Legislature after the $261.4 billion budget was passed by the constitutional deadline and signed by the governor in July, but also some funding

Muni issuers are considering and beginning to roll out blockchain based solutions, including distributed ledger technology for various muni projects, but the market remains nascent. The introduction of blockchain and its use of digital ledger technology caught market attention in 2016 as a banking alternative that could transform operating systems, and for munis, promised the

Municipal yields edged higher Friday as selling pressure emerged early and buyers greeted it by demanding some concessions, though municipals still outperformed taxables by a large degree on the week. Triple-A benchmark yields rose another two to three basis points, moving the municipal 10-year to 1% on both Refinitiv MMD and ICE Data Services scales.

The Puerto Rico House of Representatives could approve next week restructured bonds for the Puerto Rico bankruptcy, which may move the process along. House Speaker Rafael Hernández Montañez plans to submit a bill to allow the sale ofrestructured bonds consistent with the proposed Plan of Adjustment, said Lilliam Maldonado, spokesperson for Rep. Jesús Santa Rodríguez,