Month: January 2025

An insurance company employee on Jan. 23 surveys a home destroyed by the Palisades Fire in Los Angeles.Bloomberg News This month’s devastating Los Angeles-area wildfires have created urgency around a bill that would allow the California Infrastructure and Economic Development Bank to issue bonds to support the state’s property insurer of last resort. California’s FAIR

The University of Tennessee wants to be given the right to sell a wider variety of bond types. AdobeStock The University of Tennessee wants the Tennessee State School Bond Authority to grant it the right to offer bonds supported by its general operating budget rather than revenue streams. Residence halls and parking lots are the

A restaurant damaged by Hurricane Milton in St. Pete Beach, Florida, in October.Bloomberg News The recovery of Florida, North Carolina, and Tennessee local governments and utilities from hurricanes Helene and Milton continues but the outlook for next season and beyond is troubling. Many localities and public utilities are emerging from the storms’ aftermaths financially hit

<img src=”https://public.flourish.studio/visualisation/21374434/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were steady to slightly weaker in spots, while U.S. Treasury yields rose a little and equities ended down after the Federal Open Market Committee, as expected, held rates steady. “Both the FOMC’s December Summary of Economic Projections and current rate futures suggest 50 basis points of additional cuts

Minnesota Gov. Tim Walz’s $887 million state bonding plan includes $10 million for removal of the Rapidan Dam after its partial failure in 2024.Office of Gov. Tim Walz Minnesota Gov. Tim Walz and North Dakota Gov. Kelly Armstrong have both proposed hundreds of millions in bonding as the Midwest’s governors begin rolling out state budget

<img src=”https://public.flourish.studio/visualisation/21361104/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were steady Tuesday ahead of the Federal Open Market Committee meeting as U.S. Treasury yields were little changed and equities ended up. This year may see higher levels of volatility due to the uncertainty about forthcoming policies from President Donald Trump’s administration, said BlackRock strategists. “An emphasis on

“The assumption that FEMA is there protects every credit,” said Sarah Sullivant from S&P Global Ratings.S&P Global Ratings President Donald Trump signed an executive order Sunday establishing a task force to evaluate the Federal Emergency Management Agency as he floated the idea of abolishing a department that many in the municipal bond market consider key to

<img src=”https://public.flourish.studio/visualisation/21344305/thumbnail” width=”100%” alt=”chart visualization” /> A new artificial intelligence model from Chinese firm DeepSeek led to a selloff in tech stocks, which, in turn, scared the broader market. In response, investors flocked to safe haven assets like municipal bonds and U.S. Treasuries. Muni yields fell five to seven basis points, depending on the scale,

KBRA downgraded Chicago’s GO bonds to A-minus on Friday. The outlook is negative. Bloomberg News Kroll Bond Rating Agency downgraded Chicago’s general obligation bonds to A-minus from A on Friday. KBRA said the move reflects the city’s “extremely limited” options for raising new recurring revenues or materially cutting operating expenditures. It said those conditions will

PREPA bondholders told the Puerto Rico Energy Bureau rates must be set to cover outstanding bond principal and interest. The Puerto Rico Oversight Board and bondholders of the Puerto Rico Electric Power Authority are engaged in a potentially high stakes argument over how electric rates should be set, which could profoundly impact bondholders’ recovery. The

Warren “Bo” Daniels will lead the meeting as chair of the MSRB board. MSRB Ongoing work to potentially simplify the submission process for new issue disclosure and discussion of dealer supervisory obligations given changing work patterns will be among the topics on deck at the Municipal Securities Rulemaking Board’s upcoming quarterly board meeting. The MSRB’s

Nevada Gov. Joe Lombardo sparked a budget firestorm ahead of the legislative session by proposing a budget with a deficit and naming a new budget chief. Nevada Gov. Joe Lombardo replaced his budget chief just days before Nevada lawmakers convene on Feb. 3 for their regular legislative session, where they will discuss the governor’s budget

Hans Hanf, former head of municipal markets at BAM, was remembered by friends and colleagues. Hans Hanf, former head of municipal markets at BAM, whose career in municipal finance spanned nearly half a century, died on Jan. 22.  He was 76. Hanf’s friends and colleagues remembered him as someone who could effortlessly bring people together.