Bonds

Municipals were mixed Thursday, outperforming U.S. Treasuries, which saw larger losses following a higher-than-anticipated inflation report, while more outflows from muni mutual funds were reported. U.S. Treasuries sold off after the consumer price index report showed inflation rising, paring back gains after several sessions of a flight-to-safety bid amid the violence in Israel. Equities ended

Municipals rallied Wednesday amid a busy primary market day as U.S. Treasury yields fell out long and equities closed the session up after the Federal Open Market Committee released its minutes with few surprises. Triple-A yields were bumped seven to 12 basis points, depending on the scale, while U.S. Treasury yields fell up to 12

Chicago Mayor Brandon Johnson Wednesday unveiled a $16.6 billion all-funds spending package he dubbed the “people’s budget” that “begins the critical investments necessary” to usher in his progressive vision of solving the city’s significant fiscal and social challenges. The budget proposal features little in the way of new taxes or fees despite Johnson’s campaign pledge

Transportation and issuer groups have expressed support for a Republican Senate bill that would require electric vehicle owners to pay a fee to help support the struggling Highway Trust Fund. Senate Bill 2882, the Stop EV Freeloading Act, would impose a $1,000 fee at the manufacturer level and a one-time fee of $550 on each

Municipals were firmer Tuesday, underperforming a U.S. Treasury flight-to-safety rally. Equities ended in the black. Triple-A muni yields fell up to 10 basis points while USTs rallied upwards of 15 basis points. The two-year muni-to-Treasury ratio Tuesday was at 73%, the three-year was at 73%, the five-year at 74%, the 10-year at 75% and the

The muni market may be several years away from fully integrating artificial intelligence, but firms are taking small steps already. “AI is a big deal if you want to personalize your approach, differentiate your products,” James Pruskowski, chief investment officer of 16Rock Asset Management, said during MuniTech NYC, a conference hosted by Munichain and Spline

Federal Reserve Bank of Cleveland President Loretta Mester said Friday’s jobs report didn’t change her view that the labor market remains strong, and that further interest-rate hikes will depend on additional incoming data. “The inflation rate is still too high, the level of inflation remains high, but at least we’re seeing progress on it,” Mester

The largest health-care strike in U.S. history hit Kaiser Permanente Wednesday, putting investors who buy and sell hospital bonds on edge as an industry that’s already experienced more than its share of distress struggles to stabilize financially. Kaiser has almost $4 billion in outstanding municipal-bond debt, according to Bloomberg data, including $1 billion in so-called

Enjoy complimentary access to top ideas and insights — selected by our editors. Peter Hayes, one of the most well-known and influential people in the municipal bond industry, plans to relax and enjoy life with his family and friends after he retires early next year. “I’ll be 65 next year — and I didn’t think

North Carolina Gov. Roy Cooper is leading a state delegation to Japan next week to attend the Southeastern United States/Japan (SEUS/Japan) economic development conference in Tokyo. The trip, from Oct. 11 to 15, aims to entice businesses to move to the state. The delegation will also meet with officials and business leaders. “Japan is a

Municipals were weaker along with U.S. Treasuries Friday following better-than-expected jobs data while equities rallied on the data. The September non-farm payrolls report dashed any suggestions that the labor market is weakening, but analysts still debate whether the Federal Reserve will need to raise rates again. In addition to 336,000 jobs being created in the

A year after it was launched, the U.S. Conference of Mayor’s public-private partnership task force held its inaugural roundtable conference this week in Atlanta. “Our first public-private partnerships council meeting laid the groundwork for our objectives in the years to come,” said Atlanta Mayor Andre Dickens, who was tapped last year to head up the council.

Municipals were steady Thursday while the final large deals of the week priced in the primary. U.S. Treasuries were mostly firmer and equities were in the red ahead of the Friday payrolls data release. “The last labor market reading before the [non-farm payrolls] report provided another reminder that the labor market is still strong,” said

Federal Reserve Bank of San Francisco President Mary Daly said policymakers can hold interest rates steady if the labor market and inflation continue to cool or financial conditions remain tight. “If we continue to see a cooling labor market and inflation heading back to our target, we can hold interest rates steady and let the

An attorney for a Puerto Rico Electric Power Authority bondholders group raised concerns Wednesday about an Oversight Board mailing to bondholders asking them to support its plan of adjustment, which would result in them getting a better deal than non-supporting bondholders. PREPA Ad Hoc Group attorney Eric Brunstad Jr. said at Wednesday’s Puerto Rico omnibus

A small city in Missouri could see its credit rating cut to junk by S&P Global Ratings because of financial woes plaguing a local ice rink backed by municipal debt.  The St. Louis suburb of Maryland Heights, home to 28,000 residents, currently has a BBB-minus rating, just one rung above junk. A slew of S&P

Munis were weaker Tuesday, but outperformed a U.S. Treasury selloff. Equities sold off as well. Triple-A yields rose anywhere from two to eight basis points while UST saw yields rise by as much as 13 basis points out long. The two-year muni-to-Treasury ratio Tuesday was at 72%, the three-year was at 72%, the five-year at

The agency that manages Chicago’s convention center campus wades into the market this week with a deal that continues its trend of pushing off looming bond payments to manage a persistent mismatch between its revenues and its debt service schedule. The Metropolitan Pier and Exposition Authority of Illinois is set to price $56.2 million of

A group of Puerto Rico Electric Power Authority bondholders opposed to the Oversight Board’s proposed plan of adjustment identified its members Wednesday. The new faction, called the PREPA Ad Hoc Group, holds $2.1 billion in uninsured PREPA bonds and hundreds of millions of dollars more in insured bonds. $8.5 billion of PREPA bonds were outstanding

The MSRB’s annual budget, published at the beginning of our fiscal year, provides the organization with the resources necessary to advance our mission of protecting investors and issuers and promoting the fairness and efficiency of the $4 trillion market that ensures access to capital for communities across the country. For fiscal 2024, the Board approved