With about 94% of the $55 billion of federal funding from the 2021 Infrastructure Investment and Jobs Act for the country’s water and wastewater needs yet to be disbursed, issuers may not need much in the way of municipal bonds for water infrastructure, analysts said. Bond issuance for water and sewer purposes declined 6.7% to

Collin Teague has joined Siebert Williams Shank & Co. as a managing director in the company’s public finance group in New York, the firm announced Thursday. Teague was most recently an executive director in the municipal securities department at Morgan Stanley. “Collin joining us is further evidence of our commitment to growing our public finance

Municipals saw losses Thursday following U.S. Treasuries to higher yields, while equities sold off after GDP growth slowed in the first quarter. While growth slowed, inflation was hotter, said ING Chief International Economist James Knightley, as the core PCE deflator rose 3.7% on an annualized basis, three-tenths of a point higher than expected. “Unsurprisingly Treasury yields

Kansas Gov. Laura Kelly on Wednesday vetoed tax cut legislation that she called “too expensive” and offered lawmakers a less-costly alternative. The Democratic governor, who in January vetoed a previous tax reduction bill passed by the Republican-controlled legislation, said the latest measure “jeopardizes our state’s future fiscal stability.”    House Bill 2036, which cleared the House

The California Supreme Court has granted review of a case challenging retirement reforms state lawmakers approved 11 years ago, marking a return of pension spiking questions to the high court for the first time since a 2020 ruling on an Alameda County case. The new case — Ventura County Employees’ Retirement Association v. Criminal Justice

Municipals were slightly weaker in secondary trading Wednesday as the Los Angeles Unified School District’s nearly $3 billion pricing for institutions took focus. U.S. Treasury yields rose and equities ended mixed. Munis started the second quarter in “excellent shape,” as credit spreads are in fair value range, and muni-UST ratios start to cheapen, said GW&K

Moody’s Ratings on Monday revised Illinois’ outlook to positive from stable. The rating agency also affirmed the state’s A3 issuer rating and the A3 rating on Illinois’ general obligation debt and Build Illinois sales tax bonds. It assigned a rating of A3 to $1.8 billion of forthcoming Illinois GO bonds. The new bonds include $250

The Securities and Exchange Commission is seeking additional feedback on the Municipal Securities Rulemaking Board’s one minute trade reporting proposal, beginning a process that often results in eventual disapproval. The move begins formal “disapproval proceedings” related to the proposed amendments to Rule G-14 on time of trade reporting, the SEC’s answer to the amendments filed

Fitch Ratings affirmed both Miami Jewish Health Systems and Subsidiaries long-term issuer default ratings and the the city of Miami Health Facilities Authority’s $41 million of Series 2017 revenue bonds issued by on behalf of MJHS at speculative-grade BB-plus. The rating outlook on both is negative, Fitch said. “The affirmation reflects good growth in the

The U.S. Virgin Islands Gov. Albert Bryan Jr. declared a local state of emergency Monday to stabilize the islands’ electrical system and pay Water and Power Authority debts after various government-dependent agencies had not been paying their bills. The state of emergency will let the governor use the central government’s rainy-day fund to provide money