Bonds

An Oklahoma regulatory official, who has raised concerns about the impact of the state’s first utility securitization bond sale on ratepayers, on Thursday called for an independent assessment of the pricing as three other deals are pending. Bob Anthony, one of three commissioners at the Oklahoma Corporation Commission (OCC), continued to question the July 8

The Federal Reserve is committed to cooling inflation and needs to raise interest rates to a little above 4% to ease demand, Cleveland Federal Reserve Bank President Loretta Mester said. “We’re committed to getting inflation down” to the 2% target, which will require more rate increases, Mester said during an event hosted by the Economic

Municipals were weaker Wednesday, U.S. Treasuries were mixed and equities rallied. Muni-UST ratios were at 61% in five years, 79% in 10 years and 96% in 30 years, according to Refinitiv MMD’s 3 p.m. read. ICE Data Services had the five at 61%, the 10 at 83% and the 30 at 95% at a 3:30

Puerto Rico bankruptcy Judge Laura Taylor Swain approved the extension of mediation discussions for the Puerto Rico Electric Power Authority for the fourth time this year. Swain ordered the mediation to continue to at least Aug. 15, with the mediation team being given the authority to extend the mediation deadline until Sept. 9. In late

Detroit-based Miller Canfield public finance attorney Jeffrey Aronoff has joined the five-member board of managing directors following a vote of the firm’s principals. The firm also voted to put attorney Pawel Chudzicki, who is a member of the corporate and transactions group, on the five-member board. The newly elected members join Scott Eldridge, who was

Federal Reserve officials said they want strong evidence that the hottest inflation in four decades is on a sustainable downward path before declaring victory in their fight against it. With consumer prices rising 9.1% in June from a year earlier, the Fed has “a long way to go” on reaching price stability around a 2%

A handful of House Democrats who advocated for an increase in the state and local tax deduction cap appear ready to support the latest budget reconciliation bill that omits such provisions, dealing a blow to issuers who were proponents of SALT reform. The representatives may be the deciding votes for the package to pass through

Municipals were mostly firmer to kick off August, while U.S. Treasuries rallied out long and equities were in the red near the close. Muni-UST ratios on Monday were at 67% in five years, 84% in 10 years and 98% in 30 years, according to Refinitiv MMD’s 3 p.m. read. ICE Data Services had the five

July municipal bond issuance dropped 32% year-over-year, with many issuers holding back as they awaited the Federal Reserve’s latest rate hike. The smaller figure was led once again by dramatic drops in taxable and refunding volumes. Total July volume was $25.598 billion in 520 deals versus $37.573 billion in 1,013 issues a year earlier, according

New York City’s issuance of $22 million of special obligation revenue-backed bonds next week is just the latest in a series of deals that local officials hope will help address the future educational needs of a growing and increasingly youthful urban population. The bonds are slated to be priced by Robert W. Baird & Co.

Minnesota has a trio of triple-A general obligation ratings after Moody’s Investors Service upgraded the state to Aaa from Aa1 on Thursday. The rating agency cited the state’s financial condition, governance, and “high degree” of flexibility to raise revenue and adjust spending for the upgrade, which comes ahead of an approximately $591.5 million new money

The Puerto Rico Fiscal Agency and Financial Advisory Authority filed an objection to the Highways and Transportation Authority Plan of Adjustment Thursday, saying it is illegal. FAFAA, a government body, objected to the Puerto Rico Oversight Board’s HTA plan of adjustment submitted to bankruptcy Judge Laura Taylor Swain. While the Puerto Rico Oversight, Management, and

Municipals were steady to firmer in spots to close out a week of lackluster supply, while U.S. Treasuries were mixed and equities rallied. Muni-UST ratios on Friday were at 67% in five years, 84% in 10 years and 98% in 30 years, according to Refinitiv MMD’s 3 p.m. read. ICE Data Services had the five

The Municipal Securities Rulemaking Board announced Friday that Meredith Hathorn will be its next chair of the board on the same day that the Securities and Exchange Commission announced the withdrawal of the board’s controversial fee proposal and the MSRB submitted a new version. Hathorn is a managing partner at Foley & Judell in Baton

Municipal credit quality has reached its peak and several sectors are vulnerable to stronger economic and political headwinds that are likely to impair credit and rating trends for the rest of 2022 and beyond. This is according to a report from Municipal Market Analytics, which revised down its credit outlook for several sectors including hospitals,

Municipals were stronger and inflows returned Thursday, following a rally in U.S. Treasuries after GDP numbers came in weaker for the second month in a row and a day after the Fed hiked rates 75 basis points. Equities ended in the black. Triple-A municipal yields fell up to eight basis points, depending on the scale,

Taxable municipal issuance has plummeted this year as the shock of rising interest rates made the financing vehicle less enticing for issuers, both economically and psychologically.  From becoming a replacement for tax-exempt advance refundings lost to 2017 tax law changes to broadening the investor base for munis, taxables have played a larger role in the

Municipals were firmer following the Fed’s decision to hike rates another 75 basis points, while U.S. Treasuries rallied on the short end and equities ended up. Despite this being another “outsize rate increase” of 75 basis points, Brian Coulton, chief economist for Fitch Ratings, said “the Fed has still only raised interest rates back into

The latest version of a much-negotiated spending bill that Senate Democrats hope to pass before the end of next week features a provision that’s key to the stability of the nonprofit health care sector, market participants said. After passing the House in December as a $1.75 trillion Build Back Better legislation that encompassed President Joe

Municipals were firmer Tuesday ahead of the conclusion of the July Federal Open Market Committee meeting where a three-quarter point rate hike is likely, while U.S. Treasuries were weaker and equities sold off. Triple-A curves saw yields fall up to five basis points, depending on the scale, while U.S. Treasuries rose up to three basis