Bonds

Another reversal for U.S. Treasuries and equities while municipals held steady on Monday ahead of one of the largest new-issue weeks of the year at $17 billion. U.S. Treasuries erased most of Friday’s gains and equities rallied on easing concerns over Omicron. Triple-A benchmark yields were little changed to softer in spots. This led to
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Praise poured in from throughout Connecticut when Kevin Lembo announced his resignation as state comptroller. Lembo, 58, has been comptroller for 11 years. On Friday he cited a “serious and debilitating cardiac condition that has recently been worsening in intensity and severity.” According to Lembo, cardiologists recommended that he not continue working. “Unfortunately, my health
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Nine parties filed challenges to the Puerto Rico Oversight Board’s written arguments for its proposed Plan of Adjustment. The challenges concern preemption of pension laws, various bondholder treatments and whether government employees were given ample notice of the plan. The board filed its “proposed findings of fact and conclusions of law” in connection with confirmation
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The federal government is seeking feedback on the new Infrastructure Investment and Jobs Act and one of the act’s most high-profile sections, the electric vehicle charging infrastructure program. The pair of Requests for Information, published this week, mark the first step toward developing guidance for the $1.1 trillion package. The act features dozens of new
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Eric Adams has about a month before his Jan. 1 swearing in as New York mayor to prepare for his first budget presentation. While he inherits a city with roughly $15 billion in multiple rounds of emergency federal funding, better-than-expected revenue and diminished outyear budget gaps, a raft of fiscal variables will confront him at
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After a full seven trading sessions of volatility in U.S. Treasuries and equities, municipals ended Friday quiet, little changed, and again ignored the moves in other markets. Treasuries saw yields fall and equities sold off on lower-than-expected employment figures while triple-A municipal benchmark yields were steady to firmer by a basis point in spots. This
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A continuing resolution to fund the federal government through mid-February should stave off the imminent risk of a government shutdown, though with a looming Congressional battle over the U.S. debt limit, cities need federal budget clarity for the new year. Early Thursday, House Appropriations Committee Chair Rosa DeLauro, D-Conn., introduced the Further Extending Government Funding
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The U.S. toll road sector is expected to continue its upward trajectory in 2022, as median tolled traffic and revenue growth are slated to exceed 2% and 4%, respectively. That’s according to Moody’s Investors Service’s U.S. toll road report released on Dec. 2nd. Toll road traffic saw its steepest ever decline in 2020 as a
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Municipals continued to cut their own path and were little changed with a few large deals taking the focus again Thursday even as U.S. Treasury yields rose and equities rallied. Refinitiv Lipper reported a significant drop in municipal bond mutual fund inflows at $36 million in the latest week, a signal the volatility of other
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California is well-positioned to qualify for the plethora of federal broadband infrastructure money available through the $1.2 trillion infrastructure bill, according to Sen. Alex Padilla and others who spoke during an online event Tuesday. California Forward and California Emerging Technology Fund hosted the online webinar with Padilla, D-Calif., and several other speakers. The topic: what
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Municipals were mostly steady throughout the day and the primary was the focus while U.S. Treasuries whipsawed and stocks sold off after the first Omicron case was reported in California. The Investment Company Institute reported $974 million of inflows into municipal bond mutual funds and another round of small outflows from exchange-traded funds. Treasuries ended
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This article is part of The Bond Buyer’s multi-platform series on the future of infrastructure: Build What Better? In this four-part series, The Bond Buyer looks at the changes this infrastructure moment could bring to landscapes and markets across the nation. It includes four longform feature stories running every other Tuesday for the remainder of 2021, beginning November
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Puerto Rico’s General Fund net revenues came in 17.4% ahead of Oversight Board projections in the first quarter of the fiscal year. Revenues measured on an accrual basis were also 10.4% ahead of the first quarter of the prior fiscal year, according to data released by the Puerto Rico Treasury. Advantage Business Consulting President Vicente
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Municipals were little changed Monday while U.S. Treasuries pared back some of Friday’s gains and equities rebounded as markets generally calmed after initial Omicron fears were digested. Economists don’t appear to be too concerned about the latest COVID-19 variant. “Even if Omicron causes another pandemic wave, it is more likely to slow rather than interrupt
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Shortly after her swearing in as Boston mayor, Michelle Wu acted on her signature campaign theme, free transit rides. Sidestepping the state-run Massachusetts Bay Transportation Authority, Wu asked the City Council to approve the use of $8 million in federal rescue funding to expand a pilot program for two more years, to backstop rides on
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The Puerto Rico bankruptcy judge is likely to approve the Oversight Board-proposed Plan of Adjustment or something close to it this winter, observers and analysts say. While participants hoped the plan would be effective by Dec. 15 (a deadline in the bondholder Plan Support Agreement), on Nov. 17 the U.S. Attorney General asked for a
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