Rural Michigan hospital gets state lifeline as it awaits federal designation change
Michigan’s new budget package provides an $11 million lifeline that will stave off the looming closure of Sturgis Hospital as...
Bonds
Stock market slump hits New York City in the tax collections
Rising inflation and falling stock prices are getting ready to take a big bite out of the Big Apple's economic...
Muni agenda dealt final blow following Manchin’s refusal to support Build Back Better
West Virginia Sen. Joe Manchin has dealt President Biden and the Democrats’ Build Back Better bill a final blow, refusing...
Steady to end week; analysts cautiously optimistic on munis
Municipals were little changed to close out the week, while U.S. Treasury yields fell slightly and equities rallied.Muni to UST...
Massachusetts unemployment deal postponed as state mulls new funds
Next week's planned sale of $2.7 billion of taxable business-tax backed special obligation revenue bonds by Massachusetts is being postponed...
Bill would offer Puerto Ricans three choices on status
U.S. Representative Raúl Grijalva, D-Ariz., submitted a bill Friday for a binding plebiscite on Puerto Rico’s political status, but its...
Pension liabilities are soaring again as state funds mirror market losses
The stock market decline of 2022 is projected to push the unfunded liabilities of state-run pension systems to $1.3 trillion...
Fed watchdog clears Powell and Clarida in trading scandal probe
The Federal Reserve’s Inspector General said Chair Jerome Powell and former Vice Chair Richard Clarida’s trading activity had not broken...
Social risks stand out in S&P report on ESG in Midwest and Central states
The “social” part of environmental, social, and governance evaluations poses the most downside risk to governmental and not-for-profit issuers in...
Fed’s Waller backs 75 basis-point rate hike, says bigger move hangs on data
Federal Reserve Gov. Christopher Waller said he supports a three-quarter percentage-point increase in the benchmark lending rate later this month...
Fed’s Bostic says June CPI concerning, ‘everything in play’
Federal Reserve Bank of Atlanta President Raphael Bostic said “everything is in play” for policy action after data showed that...
Munis mostly steady while inflation data fans recession fears
Municipals were little changed in secondary trading, as eyes turned toward the primary market's large revenue deals from the New...
Unfunded building maintenance turning infrastructure assets into liabilities
The condition of infrastructure projects should be priced into municipal bond offerings, as many infrastructure assets around the country have...
Vetoes from Hawaii’s governor cut some bond spending
Hawaii Gov. David Ige described his lame-duck session as governor as cooperative even as he released a record number of...
Tardy Santa Fe audit sparks concerns about state capital funding
Santa Fe, New Mexico, city officials are fretting that a late fiscal 2021 financial audit could lead the state government...
Muni vet Wong to lead Nixon Peabody’s project finance practice
Virginia Wong, a 27-year veteran of the municipal bond industry, has been chosen to lead Nixon Peabody LLP’s project finance...
Massachusetts’ $2.7B marks largest ‘social’ ESG muni deal yet
Massachusetts plans to bring $2.7 billion of taxable business-tax backed special obligation revenue bonds with a social designation, marking the...
Los Angeles airport received one of the largest grants in a federal outlay
Los Angeles International Airport received a $50 million grant from the federal infrastructure bill for terminal road improvements, among the...
Bans on bond proceeds used for religious purposes may now be unconstitutional
The Supreme Court decision in Carson v. Makin may render unconstitutional issuer statutes that prohibit the use of bond proceeds...
Supply surge led by blockbuster deals from New York, D.C.
Municipals were mixed to close out a quiet summer Friday session ahead of a larger new-issue calendar that sees several...
Reconciliation budget talks revive hopes for muni market agenda
As Senate Democrats work to revive a reconciliation spending package, municipal bond lobbyists hope for a fresh opportunity to push...
