Bonds

The Supreme Court decision in SEC v. Jarkesy, ruling that the Securities and Exchange Commission can’t use administrative court proceedings in cases where it seeks civil penalties, may close down one lane the SEC uses to enforce the market, but it won’t altogether change how the Public Finance Abuse Unit operates. The municipal securities market

Moody’s Ratings downgraded two private universities in California this week as higher education continues to grapple with declining enrollment and slower revenues nationally. Moody’s cut the University of La Verne’s rating to Baa1 from A Thursday, affecting $101 million in revenue bonds issued for the school in eastern Los Angeles County. It downgraded the University

Municipals closed the month and the first half of 2024 on a quiet note ahead of the Fourth of July holiday-shortened week and a new-issue slate coming in at a measly $240 million — though there was much to watch on the sidelines. Munis outperformed U.S. Treasuries Friday by holding steady as govies saw some

As California grapples with tax revenue shortfalls that threaten his state policy ambitions, Gov. Gavin Newsom delivered an unusual State of the State speech that critics said barely touched on the state’s challenges. Thea pre-recorded speech released Tuesday focused on national politics over state policy. The speech came after the governor and the legislature’s leaders,

Observers and participants in the yearslong effort to turn around Puerto Rico’s economy offered mixed opinions about the significance of the impending departure of Puerto Rico Oversight Board Chairman David Skeel . Skeel will leave the board after a successor is approved. He has been on the board since it was founded in August 2016.

New York’s abrupt move this month to hit the brakes on congestion pricing may hinder similar efforts in U.S. cities that are already struggling with the polarizing politics that derailed New York’s program. But advocates say with the right political champion, the concept of charging a toll to enter busy districts remains an attainable and

Puerto Rico Oversight Board Chairman David Skeel announced he will leave the board after nearly eight years. Skeel, one of the original seven members appointed in August 2016, shortly after the passage of the Puerto Rico Oversight, Management and Economic Stability Act, said he will leave when a replacement is in place. In mid-2020 then-Board

Nearly 150 projects across all states won a piece of $1.8 billion from the popular and competitive transportation Rebuilding American Infrastructure with Sustainability and Equity, or RAISE, grant program. “Some of these projects are not the multibillion dollar projects that drive national headlines,” Transportation Secretary Pete Buttigieg told reporters Tuesday on a call announcing the

Municipals were little changed Tuesday with the focus squarely on the active primary slate as U.S. Treasury yields fell slightly out long and equities were mixed near the close. The two-year muni-to-Treasury ratio Tuesday was at 64%, the three-year at 66%, the five-year at 67%, the 10-year at 66% and the 30-year at 84%, according

Enjoy complimentary access to top ideas and insights — selected by our editors. Transcription: Transcripts are generated using a combination of speech recognition software and human transcribers, and may contain errors. Please check the corresponding audio for the authoritative record. Michael Scarchilli (00:05): Hi everyone, and welcome to the Bond Buyer podcast, your go-to source for

Municipals were steady Monday ahead of a surge in supply, as U.S. Treasury yields fell slightly out long and equities were mixed near the close. The two-year muni-to-Treasury ratio Monday was at 64%, the three-year at 66%, the five-year at 67%, the 10-year at 66% and the 30-year at 84%, according to Refinitiv Municipal Market

Software solutions firm Investortools and technology-driven broker-dealer Millennium Advisors have partnered to streamline the usual muni investment managers’ manually intensive workflow, the firms said. Millennium will provide clients with real-time pricing and trade execution capabilities by connecting directly to the Investortools Dealer Network, or IDN, according to a press release. Millennium will be a “fully

Hospitals in California may get the extra time some say they need to meet stringent earthquake-safety requirements. As it stands now, hospitals will be forced to close if they haven’t completed the required work by a 2030 deadline under a state law originally crafted following the 1994 Northridge earthquake. “Almost two-thirds of the hospitals in

Pressure is beginning to mount for the Federal Emergency Management Agency to expand its role in responding to major weather events and to declare the effects of smoke and extreme heat a major disaster on local communities. That comes in the form of a new petition filed by the Center for Biological Diversity, the Arizona

The California Supreme Court removed a sweeping anti-tax measure from the November ballot that the state’s Democrats claimed would have been catastrophic for local government budgets. The high court found the measure to be a far-reaching revision of the state constitution and “because those changes would substantially alter our basic plan of government, the proposal

The election, the national debt, and the key legislative accomplishment of the Trump administration has lawmakers and lobbyists taking stock of their positions and reassessing which hills to die on.  “If Congress must tackle the expiration of Tax Cuts and Jobs Act provisions through bipartisan compromise, the process will likely move slower and allow more

Municipal investors can expect more than $12 billion of bonds and notes in the week of June 24 as issuers forge ahead with primary offerings amid a steadier market and a higher-for-longer mindset settles in. Recent market moves have led munis to outperform other fixed-income asset classes and position tax-exempt returns to close out June

They’re calling next year the Super Bowl of federal tax policy, and everything, including the municipal market’s prized tax exemption, will be in the game. Congress is gearing up for a potentially major tax overhaul post-election as provisions in the 2017 Tax Cuts and Jobs Act, the largest tax overhaul since 1986, are set to

Houghton University, a liberal arts school in Western New York established in 1883, saw its rating downgraded into junk status by S&P Global Ratings. The rating agency cut the school’s tax-exempt bonds one notch to BB-plus from BBB-minus, citing its track record of deficits plus a large operating shortfall expected in fiscal 2024.  “We believe

Puerto Rico’s financial oversight board is seeking to reopen a confirmation hearing on a debt-restructuring plan for the island’s power utility after an appeals court last week ruled that bondholders have a claim to the agency’s future net revenue. The oversight board, which manages the bankruptcy of Puerto Rico’s Electric Power Authority, called PREPA, wants