Bonds

CommonSpirit Health added disclosure of a ransomware attack to its offering statements this week as the nation’s largest not-for-profit system prepares to enter the market with a $1.5 billion transaction, underscoring the acute threats posed to borrowers across the municipal spectrum. The Chicago-based Catholic system created through the 2019 merger of Catholic Health Initiatives and

Bankruptcy Judge Laura Taylor Swain approved the Plan of Adjustment for the Puerto Rico Highway and Transportation Authority, reducing its debts by 80% and saving it more than $3 billion in debt service payments.   Swain approved the HTA debt plan on Tuesday in the U.S. District Court for the District of Puerto Rico. Swain overruled any prior

Municipals were weaker Thursday following the release of consumer price index figures that showed inflation remains stubbornly high. U.S. Treasuries sold off on the front of the curve and equities rallied. Triple-A benchmarks were cut three to five basis points, depending on the scale, while U.S. Treasury yields rose nine to 18 basis points five

Municipals were firmer in secondary trading Wednesday as the largest deal of the week, a $700 million offering from the New Jersey Turnpike Authority, took focus in the primary. U.S. Treasuries made gains and equities ended mixed after the Federal Open Market Committee minutes signaled continued tightening. “The Fed Minutes showed tightening will continue even

Moody’s Investors Service raised its outlook on Ohio’s Aa1 rating to positive, citing the state’s strides in branching out into new economic arenas that could bolster lagging growth and weak demographic trends. Tuesday’s action came one month after Fitch Ratings lifted the state’s rating to AAA and on the same day Gov. Mike DeWine announced

The Washington and Oregon governors and the premier of Canada’s British Columbia province have signed a pact joining with California Gov. Gavin Newsom in setting environmental mandates that encourage electric vehicle use, and pledging dollars to investing in EV infrastructure. Newsom, Oregon Gov. Kate Brown, Washington Gov. Jay Inslee and British Columbia Premier John Horgan

A $3.4 billion bond deal to securitize costs incurred by Texas natural gas providers during 2021’s Winter Storm Uri could be priced as early as the second week in November by an underwriting team that no longer includes UBS as a co-manager. The Texas Natural Gas Securitization Finance Corporation Board on Thursday removed UBS from

In the age of great resignation, demographic shifts, population loss, and retiring workforce, how is the muni industry planning to face the talent challenge and continue growth? Our panelists will examine some of the strategies they employ to attract and retain talent as well as how they continue to focus their efforts on having diverse

Municipals were a touch weaker out long to close out the week while U.S. Treasuries posted losses and equities sold off after hotter-than-expected jobs data. Municipal to UST ratios again fell on the day’s moves. The three-year on Thursday was at 69%, the five-year was at 73%, the 10-year at 82% and the 30-year at

The city of Trenton has found itself in hot water with the state of New Jersey once again. Following a brush with default in August that prompted a state response, a group of local legislators announced on Monday that New Jersey’s Department of Environmental Protection planned for a limited but “imminent” intervention of its troubled

The panelists will share the status update on the preparations underway and the impact on local governments and infrastructure in the City and surrounding area. Takeaways include:   Regional infrastructure projects that will come online by 2028 Risk management considerations Infrastructure in place for the Olympics, and venues under construction Other projects expected to enhance

As we approach a year since the infrastructure law passed, the discussion will center around the plans put in place to use the monies as well as what challenges and opportunities lie ahead. The discussion points will include: The rollout of IIJA   How easy/difficult has it been to receive the money from the government

A new video-sharing app for self-directed investors will combine short-format, social media technology with high-quality crowd-sourced content to inform, educate, and elaborate on all things investing, including municipal bonds. A Wall Street version of TikTok, the new StockPick app will be targeted to everyone from experienced traders to the Gen Z and millennial investors age

Chief Economist Dr. Lindsey Piegza will look at the current state of the economy amid the ongoing pandemic and what it means going forward for overall growth, interest rates and monetary policy. She will cover macro-economic trends in consumer spending and investment, in addition to new monetary and fiscal policy initiatives and the potential economic

Los Angeles Mayor Eric Garcetti and the city’s housing authority announced Tuesday that the city will restart its Section 8 housing voucher program, which it had paused for five years. “Housing solves homelessness; that is our North Star,” Garcetti said. “By reopening the Section 8 waiting list, we will present thousands of our neighbors with

Municipal yields fell Tuesday by as much as 10 basis points out long while U.S. Treasuries were little changed and equities rallied. Triple-A yields fell four to 10 basis points across the curve amid robust secondary trading with high-grade names showing clear moves to lower yields. New York City priced $1.35 billion of exempt and

The Municipal Securities Rulemaking Board’s proposed amendments to its Rule G-14, requiring all trades to be reported within a one-minute window, would not provide any material benefits and could cause serious disruptions to many aspects of the market. That’s according to comments the board received as part of its request for comment on MSRB Rule

The first green municipal bond was issued nearly a decade ago, but the public finance industry — and California in particular — have been working to take it to the next level. California’s Green Bond Market Development Committee plans to produce recommendations next year on both best practices for issuing green bonds and a method

As the Oklahoma Turnpike Authority battles in court for the ability to issue bonds for a $5 billion, 15-year project that includes toll road extensions, state lawmakers are taking a closer look at its operations and giving opponents the opportunity to publicly air their concerns. Southwest states, including Oklahoma, are attracting residents and businesses and

Baby bond programs aren’t a panacea for generational inequality, but remain a promising tool to chip away at such problems, experts said at an event this week in New York. Tuesday’s event at the Federal Reserve Bank of New York, “Exploring Baby Bonds as a Tool to Improve Economic Security,” was organized in conjunction with