Bonds

Municipals finished out the last trading day of the year little changed in an abbreviated session that saw Treasury yields rise and equity prices fall. “Bond investors bid a not-so-fond farewell to 2022 as they look forward to a much more attractive 2023,” said Bryce Doty, senior vice president at Sit Investment Associates. The markets

Against the backdrop of a persistent drought, Arizona made an initial move toward the possibility of piping desalinated water from the Gulf of California in Mexico to the land-locked state’s growing population. The Arizona Water Infrastructure Finance Authority approved a resolution Dec. 20 allowing the agency to evaluate a proposal from Israel-based IDE Technologies that envisions

The U.S. Virgin Islands would privatize its only two airports under a process launched Thursday that would mark the second long-term lease for a U.S.-based airport asset. The Virgin Islands Port Authority Thursday released an RFQ outlining a relatively fast-paced process that aims to select a final team by the end of 2023 with groundbreaking

The Securities and Exchange Commission’s Public Finance Abuse Unit’s recent and relatively novel pursuit of firms accused of violating the limited offering exemption has securities lawyers expecting more focus on that area in the coming year, even likening it to one of the most significant muni enforcement initiatives of the past decade. In September, the

The municipal bond market shrank, retail continues to access it, and broker-dealer holdings have grown, the latest Federal Reserve data show. Fed data show the outstanding universe of munis shrinking in the third quarter in terms of both par basis and market value, said Matt Fabian, a partner at Municipal Market Analytics. The value of

The Brent Spence Bridge Corridor Project has been awarded $1.6 billion in federal funding grants, Kentucky Gov. Andy Beshear and Ohio Gov. Mike DeWine announced Thursday. The approval of the funds will let the improvement project move into the construction phase in 2023. Kentucky and Ohio were seeking the grants under the Infrastructure Investment and

Municipals were weaker in spots Thursday as outflows from mutual funds lessened. U.S. Treasuries were firmer five years and out and equities rallied. The three-year muni-UST ratio was at 60%, the five-year at 64%, the 10-year at 68% and the 30-year at 91%, according to Refinitiv MMD’s 3 p.m. read. ICE Data Services had the

The Army Corps of Engineers approved a wetlands work permit for the land in Georgia where electric vehicle maker Rivian plans a 16-million-foot battery and vehicle production plant. Over the last few months, the Corps and federal and state environmental agencies led a review of Rivian’s plans for a factory on 2000 acres of rural

Public infrastructure will glide into 2023 supported by massive federal aid, but the rising cost of projects could trip up the country’s national rebuilding plan. Macroeconomic uncertainties like material prices, labor shortages, high interest rates and slowing economic growth may make capital financing more expensive. And that may prompt cautious local and state leaders, who

Municipals were weaker in spots Wednesday as outflows from mutual funds continued. U.S. Treasuries were mixed and equities ended down. Triple-A benchmark yields were cut up to five basis points, depending on the scale, while UST yields fell up to five basis points out long. The three-year muni-UST ratio was at 60%, the five-year at

Municipals were weaker Tuesday, outperforming a U.S. Treasury sell-off, while equities were mixed. Municipals were cut up to six basis points, depending on the scale, while UST yields rose as much as 12 basis points. Muni-UST ratios were steady Tuesday. The three-year muni-UST ratio was at 59%, the five-year at 64%, the 10-year at 67%

Texas state agencies expect to issue about $14.42 billion of debt in fiscal 2023, which would be a $6.37 billion or 79.1% increase over projections for fiscal 2022, according to a report from the state’s Bond Review Board.  The state ended fiscal 2022 on Aug. 31 with total outstanding debt of $64.4 billion, up from

Transcription: Chip Barnett (00:03):Hi, and welcome to the Bond Buyer podcast live from Miami. I’m Chip Barnett and today I’m here in Florida with my guest, Miami-Dade County Mayor Daniella Levine Cava. She’s a lawyer and the social worker who has served as a mayor since 2020 and is mayor. She oversees a government that

Municipals were steady Friday ahead of a week with no new deals slated. U.S. Treasuries sold off out long and equities were up near the end of the session. Muni-UST ratios were steady Friday. The three-year muni-UST ratio was at 60%, the five-year at 64%, the 10-year at 68% and the 30-year at 92%, according

Georgia backers of an economic development deal with electric automaker Rivian are meeting continued resistance from a group of residents suing to stop its planned factory. In October, a county judge denied validation of the up to $15 billion in payment in lieu of taxes revenue bonds planned as part of the incentive structure for

The Puerto Rico Oversight Board defended its latest actions in the Puerto Rico Electric Power Authority bankruptcy and rejected bondholder and unsecured creditor challenges to its proposals. The urgent motion filed Dec. 16 was “purely administrative in nature,” requesting the scheduling of a disclosure statement hearing, deadlines for briefing on the disclosure statement and the

Abundant oil and natural gas taxes are pouring into New Mexico’s general fund, boosting revenue projections and sparking concerns over the fiscal impact of a future downturn in the state’s fossil fuel industry.  The state’s latest consensus forecast lifted general fund revenue for fiscal 2023, which began July 1, $928 million above an August forecast

The New York Metropolitan Transportation Authority Board approved a $19.2 billion budget for 2023 and a four-year financial plan. The budget includes a 5.5% fare increase for next year and envisions a 4% increase in 2025. “I’ve been talking about the financial crisis facing the MTA for many months,” MTA Chair and CEO Janno Lieber said

West Virginia municipalities will receive fresh federal funds to address dated waste infrastructure networks long overdue for upgrades. The U.S. Department of Agriculture’s Rural Development Program will provide $2.2 million for “18 critical projects across West Virginia,” the state’s two senators saidTuesday in a news release, supporting efforts ranging from upgrades to telecommunications technology in

Municipals were little changed Thursday, while U.S. Treasuries were weaker and equities sold off. The three-year muni-UST ratio was at 61%, the five-year at 65%, the 10-year at 69% and the 30-year at 94%, according to Refinitiv MMD’s 3 p.m. read. ICE Data Services had the three at 63%, the five at 66%, the 10