Bonds

The state of Florida has paid down $400 million of the state’s liabilities through its new Debt Reduction Program, Gov. Ron DeSantis said Wednesday, saying the move saved taxpayers millions of dollars. In June, DeSantis signed the $116.5 billion budget for fiscal 2023–24, which established the debt reduction program within the Division of Bond Finance.

Municipals continued to improve Tuesday in constructive secondary trading while a retail pricing of $950 million for the New York City Transitional Finance Authority took focus in the primary. U.S. Treasuries were slightly firmer out long and equities rallied. Triple-A yields fell up to four basis points, depending on the curve, while U.S. Treasuries were

Owners of some defaulted revenue bonds issued in 2018 for a senior living community in Plano, Texas, reached a binding settlement with the project’s bankrupt owner that calls for the re-issuance of debt. The agreement involves nearly $57.3 million of Series A and B senior bonds sold through the New Hope Cultural Education Facilities Finance

Municipals were slightly firmer to start off the week as a larger new-issue calendar looms, while U.S. Treasury yields fell and equities ended the session up. Triple-A yields fell one to two basis points while UST fell two to three. Munis started off last week at “extremely rich valuations throughout most of the curve after

Salt Lake City International Airport (SLC) snagged two rating upgrades ahead of its upcoming trip into the municipal bond market to continue financing a $5.135 billion project to replace its facilities. The $429 million of general airport revenue bonds scheduled to price Wednesday through BofA Securities and J.P. Morgan will mark the fourth debt sale

The Indiana Finance Authority will head into the market as soon as Tuesday with Indianapolis-based water and wastewater utility refundings using a tender and forward delivery structure popular in the current market to achieve savings. The Indiana Finance Authority serves as conduit the CWA Authority Inc. in an offering of an $80.7 million first-lien wastewater

Municipals were slightly firmer in spots Friday while U.S. Treasuries saw losses, snapping a two-day rally, following stronger-than-estimated consumer sentiment data. Equities were mixed. Municipals largely ignored the moves in Treasuries after underperforming the rally throughout the week. Some of the outperformance municipals have shown over the past few weeks is due to a dearth

UBS Financial Services has been granted preliminary approval to settle a class action lawsuit against it with bondholders for $2.5 million. The settlement stems from charges that UBS allegedly reported tax information incorrectly and cost investors millions, according to the suit.  The bank is accused of not reporting amortizable bond premiums on tax forms that

The Texas Legislature took final action Thursday on a massive property tax cut after beating back attempts in the House to include teacher pay increases and other measures in the bill. Senate Bill 2, which passed the Senate in a 31-0 vote, cleared the House in a 133-4 vote. Texas Gov. Greg Abbott, who advocated

New York City’s capital program will be getting a much-needed bond boost as the New York City Transitional Finance Authority readies a sale of $1.08 billion of future tax-secured subordinate debt. Proceeds from the sale will be used to fund infrastructure projects in the city’s $164.8 billion 10-year capital plan. The fiscal 2024 executive capital

Benjamin S. Wolfe of Short Hills, New Jersey, a former public finance banker passed away on Saturday, July 8, 2023. He was 85. He was born on Aug. 18, 1937, in Newark, New Jersey, to Bertha and Milton Wolfe. He grew up in Newark and graduated from Weequahic High School before earning a bachelor’s degree

Municipals improved again Thursday as U.S. Treasuries extended their rally on more disinflationary economic data while equities were in the black as well. Triple-A yields were bumped two to five basis points, depending on the scale, while UST yields fell as much as 15 basis points at three years. The moves once again led to

California lawmakers are in negotiations on a bill that would ask voters for $15.5 billion of bond authority to help fill a gap in the state’s plans to spend $54 billion over five years to tackle climate change. The state Senate approved Senate Bill 867 on May 31on a 33-5 vote. The bill, currently in

Nashville, Tennessee received a series of upgrades from S&P Global this week. The credit agency on Monday boosted Metropolitan Nashville and Davidson County’s long-term general obligation debt rating to AA+ from AA. The upgrades also apply to obligations supported by its non-tax revenue. The outlook is stable. The action reflected Nashville’s efforts to “strengthen its

Municipals were steady Tuesday as the new-issue calendar picked up steam, including nearly $1 billion from Texas’ Denton Independent School District and an upsized deal from Utah’s Intermountain Power Agency. U.S. Treasuries were slightly firmer outside of five years and equities ended the session in the black. The two-year muni-to-Treasury ratio Tuesday was at 61%,

Assured Guaranty Municipal Corp. hired Marc Livolsi, formerly of Citigroup, as managing director of public finance marketing. Livolsi, who worked at Citigroup Global Markets Inc. for 25 years until the bank cut his position in February along with two others in its municipal team, will focus on building relationships with public finance professionals as well

Transcription:Jessica Lerner (00:03):Hello everyone and welcome to another Bond Buyer podcast. I’m Jessica Lerner, markets reporter at the Bond Buyer. I’m happy to welcome Nick Venditti, municipal bond portfolio manager with Allspring Global Investments. Welcome, Nick.  Nick Venditti (00:18):Thank you so much for having me.  Jessica Lerner (00:19):Yeah, it’s great to talk again. The first

Municipals were mixed Monday ahead of a larger new-issue slate while U.S. Treasuries improved and equities were up near the close. Triple-A yields saw a mix of one to two basis point bumps and cuts, depending on the curve, while UST saw yields fall by one to 11 basis points with the strongest moves inside

New York state agencies need to do more to protect the state’s water systems from threats like cyberattacks and natural disasters, according to an audit released by state comptroller Thomas DiNapoli. “New York has thousands of water systems supplying drinking water,” DiNapoli said, “but as we’ve seen in other states, this critical infrastructure is increasingly

Municipals saw small losses ahead of a larger new-issue calendar, while U.S. Treasuries were stronger up front and weaker out long after the jobs report came in lower than expected, as data continued to send the markets mixed signals on the economy’s health. Triple-A benchmarks rose up to three basis points, while USTs saw yields