Bonds

MassachusettsGov. Maura Healey unveileda tax relief proposal Monday, a key feature of her administration’s fiscal year 2024 budget due to be presented to lawmakers on Wednesday. “This proposal centers affordability, competitiveness, and equity each step of the way, delivering relief to those who need it most and making reforms that will attract and retain more

Municipals were little changed, no more than a basis point or two in spots, while U.S. Treasuries were better and equities ended up. The three-year muni-UST ratio was at 62%, the five-year at 63%, the 10-year at 66% and the 30-year at 91%, according to Refinitiv MMD’s 3 p.m. ET read. ICE Data Services had

Municipals were mixed to end the week as U.S. Treasury yields rose double-digits five years and in and equities ended down. The three-year muni-UST ratio was at 61%, the five-year at 62%, the 10-year at 66% and the 30-year at 91%, according to Refinitiv MMD’s 3 p.m. ET read. ICE Data Services had the three

Flanked by officials from the Port Authority of New York and New Jersey, New York Gov. Kathy Hochul on Thursday hosted a groundbreaking for a terminal project she said will cap John F. Kennedy International Airport’s $18 billion redevelopment. “The groundbreaking offers a complete vision for the modernized global gateway,” Hochul said at a ceremony held

The U.S. Treasury resumed operations of its Office of Recovery Programs Contact Center on Feb. 21, providing local governments with an important link to the federal agency as they seek to complY with the conditions governing the federal money. The help desk fielded about 300 calls and about 2,000 emails a week before shuttering last October

The U.S. would get a national infrastructure bank that would partner with states and local governments to attract private equity and pension funds under a bipartisan bill unveiled this month. It’s the latest legislation to pursue the idea, which lawmakers have floated repeatedly over the years as a way to spur private investment into the

Greenberg Traurig gained five public finance lawyers who joined the law firm’s Houston office this month from Orrick.  Adrian Patterson, who served as Houston office leader at Orrick, joined Greenberg as a shareholder, along with Robert Collie and James Hernandez as of counsels, and Noe Hinojosa III and Donna McIntosh as associates, the law firm

Oregon’s revenues continued to beat expectations, with the state’s economists forecasting lawmakers will have nearly $696 million more to spend than anticipated, and about $3.9 billion going back to taxpayers through the kicker rebate. The state has a trigger mechanism that returns money to taxpayers every two years through a so-called kicker rebate if personal

S&P Global Ratings upgraded Illinois by one notch Thursday for ongoing progress in chipping away at its debts and rebuilding its rainy day fund. The action — lifting $26.5 billion of general obligation bonds to A-minus from BBB-plus — puts the state back into the single-A category for the first time in seven years and

Arkansas Gov. Sarah Huckabee Sanders’ sweeping K-12 education plan passed the Senate Thursday as it continued on a fast trajectory through the legislature despite bipartisan calls to slow down the measure, which includes a phased-in, universal school voucher program. The Republican governor’s Arkansas LEARNS plan received its first public airing on Wednesday before the Senate

Rejecting nearly all of the challenges to its disclosure statement and plan of adjustment in the Puerto Rico Electric Power Authority bankruptcy, the Puerto Rico Oversight Board attempted to explain why National Public Finance Guarantee could get preferential treatment. National’s treatment is permissible since it is supported by a “legitimate basis,” the board said, citing

Municipals were weaker in spots in secondary trading Wednesday as $688 million of New York City general obligation bonds priced in the primary, while U.S. Treasuries were firmer and equities ended mixed. The three-year muni-UST ratio was at 62%, the five-year at 62%, the 10-year at 65% and the 30-year at 91%, according to Refinitiv

A bill introduced in California’s legislature would prohibit banks or lenders with business customers that manufacture firearms from working on the state’s public finances. Senate Bill 637, introduced Thursday by California Sen. Dave Min, D-Costa Mesa, applies to every aspect of the state’s public finances including municipal bonds, capital projects and the state’s debt portfolio,

Bondholders, bond insurer Syncora Guarantee, bond trustee U.S. Bank National Association, and others launched new attacks on the Puerto Rico Oversight Board’s proposed Puerto Rico Electric Power Authority disclosure statement and plan of adjustment. These groups and a committee of claim assignees for National Public Finance Guarantee-insured PREPA bonds all objected to the plan’s superior

A big Texas bond deal to recover extraordinary costs incurred by natural gas utilities during a fierce 2021 winter storm finally won approval Friday from a state board, paving the way for pricing next month.  The Texas Bond Review Board approved the issuance of up to $3.6 billion of taxable customer rate relief bonds by

Municipals were weaker Friday ahead of a holiday-shortened week with a smaller new-issue calendar. U.S. Treasuries were firmer, and equities ended mixed. Triple-A benchmarks were cut three to 11 basis points, depending on the scale, pushing the one-year muni above 3% and the 30-year to 3.50%. UST yields fell two to five basis points. Muni-UST

The Rhode Island Housing and Mortgage Finance Corp. plans to price $135 million of special revenue bonds Wednesday to support its affordable mortgage program for first-time and lower income home buyers. The issuer, also known as RIHousing, is the state’s housing finance agency. The largest of the three tranches of Homeownership Opportunity Bonds is the

Property tax cuts and expanded school vouchers will be fast tracked for consideration by Texas lawmakers after Gov. Greg Abbott included them in a list of emergency items for the legislative session. In his Thursday evening State of the State address, the Republican governor also said he will soon announce a $100 billion transportation infrastructure

Tax-exempt bonds for sports stadiums are once again in the crosshairs under a bill introduced this week by Oregon Democrat Rep. Earl Blumenauer. The bill would amend the tax code – or “close a loophole,” as Blumenauer said – to eliminate the federal tax exemption for bonds that finance or refinance capital expenditures for a

Two of the Federal Reserve board’s seven governors abstained from supporting the selection of former Obama aide Austan Goolsbee to become president of the Chicago Fed, according to a record of the vote. Governors Michelle Bowman and Christopher Waller, who were both appointed to the board by former President Donald Trump, withheld their support for