Unique Tokens

Following another better-than-expected jobs report, U.S. Treasuries sold off and were volatile throughout the session leading municipals to see a weaker, but more muted tone than their taxable counterparts. Equities rallied. The March employment report sent “the bond market in panic mode over Fed cuts being delayed,” according to Bryce Doty, senior portfolio manager/vice president at

California lawmakers fine-tuned their March budget proposal, cutting spending by $17.3 billion ahead of formal discussions to get a head start on difficult decisions amid a record deficit. Gov. Gavin Newsom, Senate President Pro Tempore Mike McGuire and Assembly Speaker Robert Rivas announced they reached an agreement Thursday, providing specifics about how they plan to

The Department of Transportation and Baltimore County have reached an agreement to divert a previously awarded DOT grant to help nearby ports accommodate more cargo following the collapse of the Francis Scott Key Bridge. That comes along with the announcement Thursday that DOT’s Federal Transit Administration will allocate $20.5 billion to state and local government

Miami-Dade County, Florida, Mayor Daniella Levine Cava has dropped plans for a proposed a $2.5 billion municipal bond referendum in November that would have funded infrastructure projects. Instead, the mayor said Thursday she will work to propose an even larger bonding plan that will include money for transit projects. Proceeds from the “305 Future Ready”

In a ceremony watched by thousands of issuers, the White House Thursday unveiled an overhaul of how it sends billions of federal funds to cities, states and nonprofits in an effort to cut red tape, expand the pool of grant recipients and simplify reporting and compliance. “The changes being finalized and announced today are historic

Chicago priced $229.265 million of second lien wastewater transmission revenue bonds Thursday in a refunding deal that saw spreads tighten from the last time the issuer was in the market. This is the second wastewater deal since the city saw an upgrade in April 2023 when S&P Global Ratings raised the second lien for both

Fitch Ratings’ new U.S. local government rating criteria is expected to lead to changes to about 550 ratings in the next six months. Fitch adopted the new criteria — which will affect cities, counties, school districts, and special districts — after working on the revision since the fall. The criteria will also be used to

In a move to help local schools across Kentucky deal with rising inflation and soaring building costs, the Legislature has passed a bill to let the districts directly issue general obligation bonds. “Construction inflation has created unprecedented infrastructure challenges for our public schools,” said Rep. Michael Meredith, R-District 19, who sponsored the bill. “HB 727

Munis saw a weaker tone Wednesday as muni yields were cut up to five basis points, depending on the scale, marking a second day of selling pressure, as few deals priced in the primary. U.S. Treasuries were slightly firmer across most of the curve and equities were mixed. “Much like other periods in recent years

When the Michigan State Housing Development Authority in February priced $424.6 million of single-family mortgage revenue bonds, it was part of a broad recent surge in the sector. The MSHDA’s new bonds — 2024 Series A tax-exempt, 2024 Series B federally taxable and 2024 Series C variable-rate federally taxable — were issued to finance the