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Financed with a mix of bonds, general revenue funds and some federal funding, Missouri this month kicked off a major expansion of Interstate 70, which runs parallel to the Missouri River and links St. Louis with Kansas City. The project, which spans 200 miles from Blue Springs to Wentzville, involves repairing the existing four lanes
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Short-term munis were slightly firmer Thursday as muni mutual funds saw continued inflows and the primary market slowed. U.S. Treasuries yields rose and equities sold off. The two-year muni-to-Treasury ratio Thursday was at 64%, the three-year at 66%, the five-year at 68%, the 10-year at 67% and the 30-year at 83%, according to Refinitiv Municipal
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Municipals were little changed Wednesday as the primary market saw another busy day, led by an upsized $2.5 billion from the New York City Transitional Finance Authority and $1.3 billion from the Regents of the University of California. U.S. Treasuries were slightly firmer and equities were mixed toward the close. The two-year muni-to-Treasury ratio Wednesday
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The threat of cybercrime perpetrated against municipalities continues to mutate into more sophisticated and life-threatening schemes.  “If I had to tell you what keeps me up at night, it’s not necessarily the garden variety ransomware,” said Omid Rahmani, an associate director for U.S. public finance at Fitch Ratings “It’s the advanced, nation-state, havoc-based attacks. These
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Courtney Keating | Getty Images Mortgage rates dropped to the lowest level since March last week, sparking swift demand in refinancing. Homebuyers, however, seemed unimpressed. Applications to refinance a home loan jumped 15% last week, compared with the previous week, to the highest level since August 2022, according to the Mortgage Bankers Association’s seasonally adjusted
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U.S. states are expected to cut their budgets, marking a return to more modest levels of spending after years of stimulus-fueled growth and tax cuts.  Total general-fund spending is expected to fall to $1.2 trillion in fiscal 2025, according to an analysis by the The Pew Charitable Trusts. That’s a roughly 6% decline from estimates of
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Municipals were firmer in secondary trading Tuesday as the primary market picked up steam, while U.S. Treasury yields fell and equities ended up. The two-year muni-to-Treasury ratio Tuesday was at 65%, the three-year at 66%, the five-year at 68%, the 10-year at 67% and the 30-year at 84%, according to Refinitiv Municipal Market Data’s 3
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The International Monetary Fund warned Tuesday that upside risks to inflation have increased, calling into question the prospect of multiple Federal Reserve interest rate cuts this year.  In its latest World Economic Outlook update, the IMF said “the momentum on global disinflation is slowing, signaling bumps along the path.” The rise in sequential inflation in
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With San Francisco facing record high commercial vacancies, one mayoral candidate has a plan to reshape the city’s business district and surrounding areas. Democrat Mark Farrell, former interim Mayor, is proposing a 20-year vision to revitalize San Francisco’s downtown in a bid to help the city bounce back from challenges exacerbated by the pandemic. His
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