Bonds

Federal Reserve Bank of Dallas President Lorie Logan said more interest-rate increases will likely be needed to spur meaningful disinflation and bring price-growth rates back to the central bank’s target. “I remain very concerned about whether inflation will return to target in a sustainable and timely way,” Logan said Thursday in remarks delivered at the

Despite wide expectations for declining revenues, big-ticket tax cuts were on the agenda in state legislatures across the Northeast during the most recent budget negotiation periods. With a slowdown in economic activity expected going into fiscal 2024 after a strong post-COVID rebound, almost every state in the region passed or is still negotiating tax cuts

The Federal Reserve needs to raise interest rates a bit further to rein in an inflation rate that’s too high, monetary expert John Taylor said. “They’ve had a big adjustment over the last couple of years,” the Stanford University professor told a webinar hosted by the American Council for Capital Formation on Thursday, adding, “I

Federal Reserve officials were less united at their June meeting than their unanimous decision suggested, as some favored interest-rate increases but went along with the move to leave policy unchanged. “Almost all participants judged it appropriate or acceptable to maintain the target range for the federal funds rate at 5% to 5.25%,” minutes from the

Investment losses last year eroded funding ratio gains achieved a year earlier by Chicago’s pension system, casting a shadow over a healthy pickup of taxes on the city’s audited financial results. The city’s overall net position for accounting purposes deteriorated to negative $27.6 billion in 2022 from negative $27.1 billion in 2021 due to growth

Illinois headed into the new fiscal year with fresh deposits to its rainy-day and pension stabilization funds, a low bill balance, and $1 billion in available general revenue funds — hitting several high marks on some fiscal metrics that had sunk during the state’s budget impasse six years ago. The state ended the year with

Connecticut Green Bank is offering a seventh round of its one-year taxable Green Liberty Notes in a sale set to conclude on July 31. With buy-in starting at $100, the notes are geared towards retail investors, carry a 5% coupon rate, and will be issued through CGB Green Liberty Notes LLC, a subsidiary of the

Dallas is moving ahead with plans to finance the replacement of its convention center and improvements to Fair Park starting with the private placement in August of short-term debt, which would be refunded as part of a sale of at least $1.4 billion of long-term bonds in 2024. The city council June 14 authorized work

Another $42 billion worth of infrastructure spending dedicated to improving broadband connectivity is now moving from federal to state coffers, spurring comparisons to electrification efforts under the New Deal nearly a century ago and potentially kickstarting additional bond issuance. The Broadband Equity Access and Deployment Program flows from the Bipartisan Infrastructure Law and is aimed

Not-for-profit hospital balance sheets are on the mend from last year’s challenges that inflicted deep damage on balance sheets, but pressures persist and the recovery is slow going, according to reports published this week. Hospital finances showed signs of stabilizing in May with some improvement in operating margins, declining expenses and notable increases in outpatient visits,

Municipals were little changed in secondary trading Wednesday while sizable deals from Massachusetts, the Triborough Bridge and Tunnel Authority and others that saw ample demand in the primary and municipal bond mutual funds saw more inflows. U.S. Treasuries were firmer and equities closed mixed. Triple-A yield curves were firmer by a basis point in spots

The budget agreement reached by California Gov. Gavin Newsom and lawmakers late Monday provides a lifeline to struggling transit agencies, but comes with strings attached. The parties negotiated all weekend without reaching an agreement, making it seem likely they would come barreling up to the Friday deadline ahead of the July 1, 2023-24 fiscal year

A Florida state agency is selling municipal bonds to backstop the state’s homeowner’s insurance industry sector a surge of claims and litigation drove some insurers to shutter. The Florida Insurance Guaranty Association, which handles the claims of insolvent insurers, plans to borrow $600 million in the muni market, according to preliminary offering documents. It is

A federal bankruptcy court judge sided with Detroit in a ruling Monday that the police and fire pension system lacked authority to bypass the city’s Chapter 9 plan of adjustment and cut 10 years off the amortization of unfunded liabilities. The Police and Fire Retirement System voted in 2021 to shift to a 20-year amortization

A nearly 30-year-old rule restricting solicitation of municipal securities business would be reconsidered under a Republican environmental, social and governance-related investment bill that also tackles other high-profile muni market issues. The bill, introduced last week by Rep. Andy Barr, R-Ky., would examine the effectiveness of Municipal Securities Rulemaking Board Rule G-38, which prohibits a dealer