Bonds

The California Treasurer’s office will relaunch its DebtWatch website on May 1, offering a more user-friendly format with vastly more data than the original 2015 version. The website’s software will allow investors, issuers and taxpayers to access all the data the California Debt and Investment Advisory Commission gathers on bond issuance to allow them to

Kansas Gov. Laura Kelly on Wednesday vetoed tax cut legislation that she called “too expensive” and offered lawmakers a less-costly alternative. The Democratic governor, who in January vetoed a previous tax reduction bill passed by the Republican-controlled legislation, said the latest measure “jeopardizes our state’s future fiscal stability.”    House Bill 2036, which cleared the House

The recently announced sale of the National Hockey League’s Arizona Coyotes and the team’s move to Utah could lead to bond issuances for arena projects in both states.  Under a plan approved by the NHL Board of Governors last week, the team, which had been unable to secure a permanent arena in Arizona, was sold

The California Supreme Court has granted review of a case challenging retirement reforms state lawmakers approved 11 years ago, marking a return of pension spiking questions to the high court for the first time since a 2020 ruling on an Alameda County case. The new case — Ventura County Employees’ Retirement Association v. Criminal Justice

Rockefeller Asset Management added three new portfolio managers to bolster its municipal investment strategies within in its fixed income division, the firm announced Monday. Scott Cottier, Mark DeMitry and Michael Camarella will join Rockefeller from Invesco, where they managed the California Value Municipal Income Trust and the Trust for Investment Grade New York Municipals. They

Local government officials in Texas are increasingly feeling the sting of 2021 state laws that banned big banks from underwriting municipal bonds for “boycotting” or “discriminating” against the fossil fuel or firearm industries. Several aired their grievances at The Bond Buyer’s Texas Public Finance conference in Austin last week, noting the impact of the laws,

Healthy reserves and plans to increase permanent funds to mitigate revenue fluctuations earned Wyoming a positive outlook from S&P Global Ratings. S&P affirmed the state’s AA issuer credit rating, which now has a one-in-three chance of being upgraded over the next two years, as a result of the the positive outlook being elevated from stable,

The Inflation Reduction Act has paved the way for broader participation in affordable housing and a renewed focus by developers on sustainability, panelists at Baker Tilly’s 2024 DevelUP conference said this week. One panelist called the 2022 law “the largest opportunity to build foundational generational wealth that you will experience,” and others praised the tax

A contentious rule proposal has a host of broker-dealer and investment firms calling for a rewrite as the effects on the municipal bond market portend calamity.  “Overall, we recommend that the rules in general be reconsidered and ideally rewritten,” said Susan Joyce, head of muni trading & FI market structure, AllianceBernstein. “We definitely see a

When it comes to issuing municipal bonds in Louisiana, state Treasurer John Fleming like things just the way they are. Fleming is pushing back against a proposal in the state Legislature that would make changes to the way the state Bond Commission oversees the issuance of debt by cities, counties and local governments and entities.

On Tuesday, global law firm Nixon Peabody LLP released the names of newly minted partners and counsels who have arrived at the next level in their public finance career.  According to the firm, “Nearly 80% of the new partners are members of historically underrepresented groups at the partnership level in the legal profession, which aligns

Norton Rose Fulbright has hired public-private partnership and infrastructure attorney Patrick Harder to co-head the firm’s U.S. and North America infrastructure groups. Harder joins Norton Rose after 20 years at Nossaman LLP, where he was a leader in the U.S. P3 space and was partner and chair of the infrastructure group. He will co-chair Norton’s

A small Kansas city took the initial step last week that could lead to the issuance of sales tax and revenue (STAR) bonds for a development featuring a Mattel toy-themed amusement park. The proposal came before the Bonner Springs City Council in the wake of the first-ever default on STAR bonds in the state and

President Joe Biden signaled tentative federal support for a long-struggling high-speed train between Dallas and Houston using Japanese technology during a meeting last week with Japanese Prime Minister Fumio Kishida. Opponents of the controversial proposal, meanwhile, have urged the Department of Justice to investigate the project’s owner, Texas Central Partners LLC, for violations of the

Florida is coming to market early this week with a $1.5 billion taxable bond sale to bulk up the state’s Hurricane Catastrophe Fund. The State Board of Administration Finance Corp. is planning to issue $1.5 billion of taxable revenue bonds in two maturities. “We convened with the underwriting group today and signed off on what

Municipals were mixed Thursday in secondary trading as focus shifted to California’s nearly $1.5 billion of tax-exempt and taxable general obligation bond deals in the competitive market while U.S. Treasuries were weaker out long after Wednesday’s short-end selloff and equities were in the black at the close. Triple-A yield curves saw a mix of bumps

Federal Reserve policymakers “generally favored” slowing the pace at which they’re shrinking the central bank’s asset portfolio by roughly half, minutes from their latest gathering showed. The record of the March 19-20 Federal Open Market Committee meeting also showed “almost all” officials judged it would be appropriate to begin lowering borrowing costs “at some point”

Municipals were weaker, but outperformed a large U.S. Treasury selloff that hit the short end the hardest and pushed the 10-year well over 4.5% after a hot inflation report showed Fed rate cuts would be pushed further out. Equities sold off as well. “The news is sparking an equity market selloff while sending bond yields

We are at the initial stages of a major paradigm shift that has significant implications for the municipal market over the next five to 10 years. A number of societal mega-trends will present material challenges for the municipal market. These include climate change, growing federal debt, shrinkage of the workforce, the impact of remote work,

States and municipalities across the United States are continuing to invest in Israel bonds as the war between the state of Israel and Hamas spills over into its seventh month. Since war broke out after the U.S-designated terrorist organization Hamas attacked Israel on Oct. 7, over $1.639 billion of Israel bonds have been sold to