Bonds

U.S. Treasury Secretary Janet Yellen, left, said the department would deploy special measures to avoid a borrowing default starting in mid-January while Congress takes up a debate over lifting the debt ceiling. Kent Nishimura/Bloomberg The U.S. borrowing cap resumes on midnight Wednesday, bringing with it the risk of a prolonged political impasse that invites market

“President Trump and I had a great meeting to discuss our shared priorities for the President’s second term,” said Bowser. ”President Trump and I both want Washington DC to be the best, most beautiful city in the world and we want the capital city to reflect the strength of our nation.”     DC.Gov President-elect Donald Trump and Washington,

<img src=”https://public.flourish.studio/visualisation/20996667/thumbnail” width=”100%” alt=”chart visualization” /> Issuance in 2024 surged to a record $500 billion-plus figure, as infrastructure spending needs, election-related concerns and a slew of mega deals led issuers to come to market en masse. The muni market saw a record $507.585 billion of debt issued in 2024, up 31.8% from $385.061 billion in

<img src=”https://public.flourish.studio/visualisation/20989474/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were slightly stronger as U.S. Treasury yields fell and equities ended down. Muni yields were bumped up to four basis points, depending on the scale, while UST yields fell five to nine basis points with the biggest gains 10 years and in. The two-year municipal to UST ratio

Bloomberg News The SEC announced today that it has resolved all pending litigation in the action filed against the City of Rochester, New York, and the city’s former finance director Rosalind Brooks-Harris, as well as Capital Markets Advisors and two of its principals, Richard Tortora and Richard Ganci.  A U.S. District Court in the Western

<img src=”https://public.flourish.studio/visualisation/20962238/thumbnail” width=”100%” alt=”chart visualization” /> Municipals ignored losses in U.S. Treasuries Friday ahead of another week without new-issue supply to provide direction. Equities saw losses. Triple-A muni yield curves were unchanged while USTs saw losses of up to six basis points while the 10-year UST closed the session above 4.6%. While Friday’s muni session

S&P Global Ratings Adobe Stock A sharp decline in debt service coverage helped drive a four-notch downgrade and CreditWatch placement for wastewater revenue bonds issued by Salinas, California. S&P Global Ratings Monday cut the debt to BBB-plus from AA-minus and put the rating on CreditWatch with negative implications. “The downgrade reflects our view of the

“Lawmakers will need enhanced pay-fors, putting a substantial target on the municipal bond tax exemption,” said Tom Kozlik, managing director, head of public policy & municipal strategy for Hilltop Securities.  ”I think there is a 50% or greater chance the municipal bond tax exemption will be significantly curtailed or even completely eliminated in 2025.”  Hilltop Securities Looking

Oregon Gov. Tina Kotek has been working furiously the past 30 days launching her budget proposal and closing the door on a special session to deal with costs associated with a record-breaking 2024 wildfire season.Oregon Governor’s Office It’s been a busy 30 days for Oregon Gov. Tina Kotek. Since Thanksgiving, she has approved legislation drafted

<img src=”https://public.flourish.studio/visualisation/20953080/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were little changed Thursday along with U.S. Treasuries while equities made gains. Mutual funds saw more outflows while money market funds were back in the black. The market is in a “seasonal winter softness” period where technicals are weak at the moment, said Jeff Timlin, a managing partner

“This ruling protects critical funding that helps us provide public safety, infrastructure and other essential services for our residents,” Round Rock Mayor Craig Morgan said.City of Round Rock, Texas A Texas judge ruled largely in favor of six cities that sued the state comptroller over a move that would have cost them millions of dollars

“You have these woke corporations who are dictating how people should invest,” Indiana Treasurer Daniel Elliott told a local radio station. “You have these folks from New York City and Europe and California dictating how Hoosiers’ investments should be invested. And that’s a problem.”Indiana Treasurer of State The battle over ESG investing is spreading in

“It’s going to be a tough balancing act,” said Steve Skancke, chief economic advisor at Keel Point. “They want to have full employment, they want to contain inflation, and certainly, certainly, the imposition of tariffs will contribute to inflation, both with the immediate price increase and with the disruption of supply chains.” Monetary policy in

<img src=”https://public.flourish.studio/visualisation/20935176/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were steady to slightly weaker Tuesday as U.S. Treasuries closed the session a bit stronger while equities were in the black. The two-year municipal to UST ratio Tuesday was at 65%, the five-year at 65%, the 10-year at 67% and the 30-year at 82%, according to Municipal Market

Chicago’s 2025 budget does not materially alter its credit profile, Moody’s Ratings said this week.Bloomberg News Chicago’s 2025 budget that passed the City Council this month will not materially alter the city’s credit profile, Moody’s Ratings said in a Monday statement. The final 2025 budget featured no property tax hike, and received criticism for using

Laura Dougherty, staff attorney for the Howard Jarvis Association, was granted a one-month extension to Jan. 31 to file briefs in the case against San Jose.Howard Jarvis Taxpayer Association The California Supreme Court agreed to an extension for filing briefs in San Jose v. Howard Jarvis Taxpayer Association, the primary case challenging cities’ use of

President-elect Donald Trump, pictured here at the December reopening of the Cathedral of Notre-Dame, has pledged to shift the country’s energy and infrastructure priorities.Nathan Laine/Bloomberg The outlook for the public infrastructure market next year is a mix of optimism and uncertainty as municipal market participants look forward to a rush of projects amid threats to

<img src=”https://public.flourish.studio/visualisation/20924481/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were little changed Monday ahead of the holidays as U.S. Treasury yields rose and equities were mixed. The two-year municipal to UST ratio Monday was at 64%, the five-year at 65%, the 10-year at 67% and the 30-year at 82%, according to Municipal Market Data’s 3 p.m. EST

S&P cited increasing enplanements and strong economic fundamentals in the service area as or its upgrade of Hartsfield-Jackson Atlanta International Airport.Bloomberg News S&P Global Ratings said it raised to AA from AA-minus Hartsfield-Jackson Atlanta International Airport. The outlook is stable. The upgrade affects $3.6 billion of the airport’s $4.4 billion in debt, raising the rating

&amp;lt;img src=”https://public.flourish.studio/visualisation/20893870/thumbnail” width=”100%” alt=”chart visualization” /&amp;gt; Municipals saw a stronger tone after U.S. Treasuries improved on a slightly lower-than-expected inflation print while equities made gains to close out a volatile week. “This month’s inflation print is quite benign, but does it even matter? The bottom-line is another one or two months of benign inflation prints will