Bonds

The Trump administration withdrew approval for New York City’s congestion pricing program citing concerns over the size of the program and the use of proceeds for transit.Bloomberg The Trump administration Wednesday terminated federal approval for New York City’s congestion pricing program just weeks after it took effect. The Metropolitan Transportation Authority immediately headed to federal court

<img src=”https://public.flourish.studio/visualisation/21715678/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were little changed Wednesday as U.S. Treasuries were firmer and equities ended mixed. The two-year municipal to UST ratio Wednesday was at 63%, the five-year at 63%, the 10-year at 66% and the 30-year at 84%, according to Municipal Market Data’s 3 p.m. EST read. ICE Data Services

<img src=”https://public.flourish.studio/visualisation/21697965/thumbnail” width=”100%” alt=”chart visualization” /> The municipal bond market was narrowly mixed ahead of smaller supply slate, while Treasury yields rose and equity prices were marginally lower on the day. The day’s moves led municipal to UST ratios to fall slightly. The two-year municipal to UST ratio Tuesday was at 62%, the five-year at

“The status quo allows the governor to manufacture budget numbers that support his policy agenda, rather than a consensus approach that would reflect legislative input,” Oklahoma Attorney General Gentner Drummond said.Oklahoma Attorney General’s Office Oklahoma’s fiscal 2026 general revenue fund collections are expected to dip below fiscal 2025 projections as the state considers an income

Sweetwater Union High School District broke ground in May on Castle Park High School’s football stadium. The project is funded partly by the district’s municipal bond program.Sweetwater Union High School District A San Diego-area high school district barred from market access four years ago will ride in Wednesday with a lift from a ratings upgrade

“This budget resolution provides the fiscal framework for what will be one of the most consequential pieces of legislation in modern history and the principal legislative vehicle for delivering on President Trump’s America First agenda,” House Budget Chairman Jodey Arrington, R-Texas, said.Allison Robbert/Bloomberg The House Budget Committee late Thursday passed a partisan budget resolution that clears

MSRB Chief Economist Simon Wu A report published by the Municipal Securities Rulemaking Board Thursday identified yields and market volatility as key drivers of secondary market trading volume in the municipal securities market, which has seen a record number of trades in each of the past three years. For their report, authors Simon Wu and

“A key credit risk for airports is financial exposure from litigation, which is generally mitigated by insurance,” said Kurt Forsgren, US Public Finance Managing Director, S&P Global Ratings. ”While safety concerns could weaken an airport’s desirability and demand over the long term, this hasn’t been observed for major US airports.”S&P Global Ratings A history of close

Scott Mitchell has been appointed CEO of InspereX after the firm experienced a banner year. Scott Mitchell, a 20-year veteran of J.P. Morgan, has joined InspereX as its CEO, succeeding former CEO John DesPrez III. “The firm just has great people, and a really unique culture, even then, and even more so now, the breadth

<img src=”https://public.flourish.studio/visualisation/21638175/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were firmer ahead of a smaller new-issue calendar, as U.S. Treasury yields fell and equities ended mixed. “A solid January employment report already halted the Treasury market rally last Friday,” while this week’s consumer price index report caused more “bear steepening” of the Treasury curve, said BofA strategists.

PREPA bondholders said if the board continues its current approach there will be years more of litigation with outcomes showing the board’s positions are “baseless.” Puerto Rico Electric Power Authority bondholders told the bankruptcy court they may challenge all Oversight Board’s advisory fees. The group of opposing bondholders, which hold or insure 61% of PREPA’s

&lt;img src=”https://public.flourish.studio/visualisation/21620339/thumbnail” width=”100%” alt=”chart visualization” /&gt; Municipals were firmer Thursday, as U.S. Treasury yields rallied and equities ended up. The two-year municipal to UST ratio Thursday was at 63%, the five-year at 64%, the 10-year at 67% and the 30-year at 86%, according to Municipal Market Data’s 3 p.m. EST read. ICE Data Services had

“Losing tax-exempt bonds would devastate American communities and set economic development efforts back decades,” said Toby Rittner, president and CEO of the Council of Development Finance Agencies. ”Communities use bonds to finance their built environment, infrastructure, schools and future growth needs. The housing industry uses bonds for affordable, senior and workforce housing. There are no alternatives

&amp;lt;img src=”https://public.flourish.studio/visualisation/21601827/thumbnail” width=”100%” alt=”chart visualization” /&amp;gt; Municipals sold off Wednesday, moving higher in sympathy with U.S. Treasuries after hotter-than-expected inflation data showed the Fed may not be able to cut rates this year. Equities ended mixed. Muni yields were cut six to 12 basis points Wednesday, depending on the curve, while UST yields rose eight

“There’s still much work to be done, but we are starting on the right path,” House Speaker Mike Johnson, R-La., said about a budget resolution that outlines topline numbers for a massive tax bill.Bloomberg News The House released its long-awaited budget resolution Wednesday, a key step toward crafting a massive tax package that’s being closely

Puerto Rico Oversight Board Executive Director Robert Mujica suggested non-settling bondholders might be offered recoveries of about 4% of the principal due.Darren McGee Office of New York Gov. Kathy Hochul The Puerto Rico Oversight Board is saying it will not improve its offer to creditors of the Puerto Rico Electric Power Authority. The board will

The growth of ETFs in the municipal bond space promotes secondary market liquidity, said Patrick Luby, head of municipals and senior municipal strategist, CreditSights. CreditSights BlackRock converted its high-yield municipal bond mutual fund into an actively-managed high-yield exchange-traded fund this week as ETFs continue to grow in popularity in the muni market. There are now 114 municipal

<img src=”https://public.flourish.studio/visualisation/21560546/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were steady Monday as U.S. Treasuries were narrowly mixed and equities ended up. Munis continued their January rally heading into the first week of the month as the asset class saw gains of 0.43%, bringing year-to-date gains to 0.94%, said Jason Wong, vice president of municipals at AmeriVet

Bloomberg News Hilltop Securities and some other firms that settled with the Securities and Exchange Commission as part of its off-channel communications enforcement sweep have sent the regulator a message of their own: unequal treatment isn’t fair.  That was the central theme of briefs in support of 10 separate Jan. 30 motions filed with the

“I look forward to finishing our review and while there are areas where we agree and others where we may disagree, we will go to work to deliver for Virginians, as we have done the past three years,” said Republican Governor Glenn Youngkin via a statement. Bloomberg News Virginia lawmakers are bucking the governor’s budget proposals by