August saw an increase in supply for the eighth consecutive month as pent-up demand and front-loaded issuance led issuers to tap the capital markets, leading to the highest monthly total volume for August on record. August’s volume reached $49.174 billion in 873 issues, up 25% from $39.33 billion in 827 issues in 2023. August’s total

The South Carolina Transportation Infrastructure Bank’s revenue bonds were upgraded to Aa2 from Aa3 by Moody’s Ratings, following a change in the rating agency’s methodology. It was one of 225 credits Moody’s placed on review for possible upgrade July 25 when it released a revised rating methodology for “certain debt instruments supported by a pledge

Municipals were little changed Friday ahead of the holiday weekend as U.S. Treasuries lost ground while stocks rallied. Triple-A yields closed the week little changed while USTs saw yields rise three to five basis points. The two-year muni-to-Treasury ratio Friday was at 63%, the three-year at 64%, the five-year at 65%, the 10-year at 69%

Fitch Ratings revised the outlook to positive from negative on $1.2 billion in private-activity bonds issued to pay for Los Angeles World Airport’s people mover project. Fitch also affirmed the BB-plus rating on the two series of senior lien revenue bonds issued through the California Municipal Finance Authority for LINXS, the consortium of private companies

A business group filed a lawsuit Thursday challenging the constitutionality of a 2021 Texas law that punishes banks and other financial firms for “boycotting” the fossil fuel industry. The case, brought by the American Sustainable Business Council against Texas Comptroller Glenn Hegar and Attorney General Ken Paxton in federal court in Austin, claims the law

The Senate Committee on Environment and Public Works is changing leadership regardless of who wins the election as Chairman Tom Carper, a champion of the Biden administration’s tax and infrastructure policies, including the Inflation Reduction Act, will not be returning to Congress next term. “As Chairman of the Senate Environment and Public Works Committee, I’m

Nebraska Gov. Jim Pillen last week signed into law a package of bills that includes caps on spending authority for local cities and counties. Their signing follows a concerted push by Pillen to pass property tax reform by calling a special session of the legislature on July 25.  The governor’s plan originally was to secure