Bonds

New York City continued to see healthy job growth this year, according to a report issued by the New York State Financial Control Board. In the first half of the year, 175,800 jobs were created in the city, a 3.9% increase, exceeding the national growth rate of 2.8%, the Control Board heard at its yearly

Municipals were weaker in spots Thursday amid an active primary market that included two billion-dollar pricings for institutions and the return of outflows. U.S. Treasury yields fell and equities were mixed. The two-year muni-to-Treasury ratio Thursday was at 63%, the three-year was at 64%, the five-year at 66%, the 10-year at 70% and the 30-year

Enjoy complimentary access to top ideas and insights — selected by our editors. The top three trustee banks in the ranking have an average dollar amount of more than $20 billion in the first half of 2023. The average number of issues for the top three is 205.  Scroll through to see the top ten

Starting in October, New Jersey motorists will pay almost a penny more per gallon for gas following a worse-than-expected year for state fuel tax revenue, officials announced. State Treasurer Elizabeth Maher Muoio said in a statement on Friday that an adjustment of the state’s Petroleum Products Gross Receipt tax rate was necessary following depressed taxable

Airports are reviving plans to tap the $4 trillion municipal bond market to build and renovate runways, concourses and terminals as passenger traffic rebounds to levels last seen before the pandemic. During the first half of 2023, sales of airport bonds dropped to roughly $3 billion — less than a third of the amount seen

The Huntsville Healthcare Authority issued $190 million of hospital revenue bonds as it saw a financial rebound from tough post-pandemic conditions. The North Alabama-based public hospital operator, whose flagship Huntsville Hospital is the state’s second largest, structured the deal with a 2053 maturity and a mandatory tender date of June 1, 2030. Bond proceeds will

Enjoy complimentary access to top ideas and insights — selected by our editors. The top three co-managers in the ranking have an average dollar volume of more than $5 billion through the end of June 2023. The average number of issues for the top three is 228. Scroll through to see which co-managers are in

Investor-owned Georgia Power will recover capital costs associated with the over-budgeted construction of two new nuclear reactors from ratepayers, according to a preliminary agreement announced Thursday. Georgia Power and the Georgia Public Services Commission’s public interest advocacy staff agreed to a $7.56 billion cap on the amount of capital construction costs placed in the rate

Municipals were little changed ahead of the Labor Day weekend and a larger new-issue calendar led by California, while U.S. Treasuries were weaker after the August jobs report showed a slowing labor market. Equities ended mixed. Friday’s jobs report reinforced some market participants’ belief the Fed will opt to skip a rate hike at the

The Biden administration’s revised rule on the definition of polluted waterways threatens to delay transportation projects and drive up costs, road infrastructure groups warned last week after the Environmental Protection Agency released a revised rule that attempts to conform to a recent opinion from the U.S. Supreme Court. The EPA’s revised Waters of the United

Oregon’s third-largest city is about to lose its only hospital, illustrating the fallout of pressured health-care systems across the country.  Operator PeaceHealth announced last week its plan to shutter University District hospital because of underutilization. The hospital in Eugene, which is home to the University of Oregon, loses an average of $2 million a month,

The Federal Aviation Authority expects to release its latest airport terminal grant opportunity as soon as next week. The Airport Terminal Program offers up $1.2 billion in fiscal 2024 for projects that address the aging infrastructure of the nation’s airports. It’s a popular and competitive program that’s now in its third year of funding under

Pension obligation bonds may be on a list of options for Dallas officials as they tackle a persistent funding problem in the city’s retirement system. During a presentation to the city council last month on debt capacity for a 2024 general obligation bond referendum, Dallas Chief Financial Officer Jack Ireland said $400 million of available

Although Oregon’s tax collections have stabilized after several quarters of unexpectedly rapid growth, the state expects to pay out a record-breaking $5.6 billion through its “kicker” rebate, according to state economists, while lawmakers expect to have more to spend on infrastructure and social programs. The previous record kicker was $1.9 billion in 2022. Taxpayers will

The Department of Health and Human Services has sent a letter to the Drug Enforcement Agency recommending that marijuana be reclassified to Schedule III, down from Schedule I, and if passed, the change could have an impact on how local governments collect taxes on cannabis businesses. That’s the latest in the Biden Administration’s efforts towards

Municipals were steady to firmer in spots to close out August as inflows returned to muni mutual funds. U.S. Treasury yields fell and equities were mixed ahead of Friday’s employment report. Triple-A benchmarks were bumped up to three basis points, depending on the scale, while UST yields fell three to four basis points. The two-year

Municipals had a slightly firmer tone Wednesday while U.S. Treasuries were little changed and equities ended up. Triple-A yields fell one to three basis points, depending on the curve, while UST maintained levels in a subdued session. While munis underperformed UST Tuesday, “there has been firmness in the muni market throughout the past week,” said

The Federal Aviation Administration is granting more money to airports that could help reduce the industry’s reliance on debt financing for making infrastructure improvements.   Airport infrastructure projects are financed through a combination of funding including bonds and the FAA’s Airport Improvement Program, which carries restrictions about what the money can be used for.  Funding from

Bond parties in the Puerto Rico Electric Power Authority bankruptcy are appealing a ruling that has barred a receiver from being appointed in the case. Syncora Guarantee and GoldenTree Asset Management Monday filed an appeal notice of a ruling of U.S. District Judge Laura Taylor Swain that rejected their request for a removal of a

Municipals were firmer in spots Tuesday, underperforming a U.S. Treasury rally. Equities ended in the black. Over the last month or so there’s been some volatility in the muni market driven by the Treasury side, said Daryl Clements, municipal portfolio manager at AllianceBernstein. USTs, which continue to be affected by Fed and related market expectations,

Municipals were steady to start the week as U.S. Treasuries were firmer and equities ended the trading session up. The two-year muni-to-Treasury ratio Monday was at 63%, the three-year at 65%, the five-year at 66%, the 10-year at 70% and the 30-year at 91%, according to Refinitiv MMD’s 3 p.m. read. ICE Data Services had