Bonds

The Texas laws that bar underwriters with discriminatory policies against the oil and firearms industries may force municipalities to face higher borrowing costs as a result of less competition among underwriters. That’s according to a new paper that was dissected during the Brookings Institution’s 11th annual Municipal Finance Conference Monday. Its authors Daniel Garrett, an
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U.S. Representative Raúl Grijalva, D-Ariz., submitted a bill Friday for a binding plebiscite on Puerto Rico’s political status, but its chances of passage are slim. The bill would offer Puerto Rico voters three options: statehood, independence, and sovereignty in free association with the United States. The current status as a territory would not be offered.
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While some ownership questions were answered, U.S. Virgin Island senators were nearly universally skeptical about a presentation at a hearing Thursday from the purchaser of a major oil refinery site that’s been plagued by financial and environmental challenges for years at a hearing Thursday. The site, Limetree Bay Refinery, and the companies operating it since
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Municipals took a breather and were little changed Thursday, while U.S. Treasuries were mixed as the 2/10 UST curve flattened but remained inverted, sending worrisome recession signs. Equities ended in the red. Muni to UST ratios were at 65% in five years, 82% in 10 years and 96% in 30 years, according to Refinitiv MMD’s
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When Federal Reserve Chair Jerome Powell describes the central bank’s approach to raising interest rates to tame inflation, he seems to return again and again to the same word: “expeditiously.” But as the central bank is laser focused on fulfilling its mission to maintain price stability, it could risk running afoul of one of its
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The former Treasury official and University of Michigan administrator’s confirmation gives the Federal Reserve Board a full complement of seven governors for the first time in nearly a decade. Michael Barr, a former Treasury official and university administrator, has been confirmed as the next vice chair for supervision for the Federal Reserve. The Senate confirmed
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Municipals were little changed in secondary trading, as eyes turned toward the primary market’s large revenue deals from the New York State Thruway Authority and the Colorado Health Facilities Authority. The 2/10 U.S. Treasury curve significantly inverted after the June consumer price index report came in hotter than expected at 9.1%, further stoking recession fears
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The “social” part of environmental, social, and governance evaluations poses the most downside risk to governmental and not-for-profit issuers in the Midwest and Central regions, S&P Global Ratings said in an ESG report published Tuesday. Analysts put an “elevated” risk label on its social scorecard, and “neutral” labels on environmental and governance factors in a
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Los Angeles International Airport received a $50 million grant from the federal infrastructure bill for terminal road improvements, among the largest dispersed from the $1 billion allocated to 85 airports nationally. The grants are the first allotment in a five-year, $5 billion airport terminal grant program funded by the Infrastructure Investment and Jobs Act, Transportation
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