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Municipals were a touch weaker in spots ahead of another robust new-issue calendar. U.S. Treasury yields rose and equities were up. The two-year muni-to-Treasury ratio Friday was at 63%, the three-year at 62%, the five-year at 60%, the 10-year at 60% and the 30-year at 81%, according to Refinitiv Municipal Market Data’s 3 p.m. EST

The Virginia General Assembly is set to pass a new budget next week after a saga that saw the state’s Republican governor and the Democratically controlled legislature clash over environmental issues, school funding, and pay-fors.     Although the budget deal still needs to be officially approved during the special session that begins Monday, Gov. Glenn

The Senate Thursday overwhelmingly passed a five-year Federal Aviation Administration authorization that features a 20% boost for major airport capital improvement projects. The bipartisan measure, which had been stalled by negotiations over an ultimately successful move to add additional flights to Ronald Reagan Washington National Airport, heads now to the House, which is expected to

The long-planned Kentucky-Ohio Brent Spence Bridge won environmental approval from the Biden administration Friday, a “major milestone” for the bistate project that’s been in planning for more than 10 years. “This is an important step forward in bringing efficiency to our nation’s supply chain,” said said Republican Ohio Gov. Mike DeWine. “The project will address one

Chicago’s iconic lakefront is also its portal to water supplies from Lake Michigan, serving not only the city but 120 of its suburbs. But Chicago’s top suburban customer and Illinois’ largest water wholesaler, the DuPage Water Commission, now says it plans to strike out on its own. The commission revealed this week that it has

Current strategies to deploy public and private capital toward a green energy transition are experiencing mixed success, amid conflicting trends as both global oil demand and clean energy deployment rates rise together, according to panelists at the Milken Institute’s Global conference this week in Beverly Hills. “As many folks know, we aren’t doing that well

Municipal Market Analytics said municipal bond impairments from January through April were the highest since they began tracking in 2009, with the charter school sector totaling most impairments. MMA recorded 63 impairments this calendar year, with 59 of them coming in January to April, according to Wednesday’s issue of Default Trends. The four-month total was

The New York Metropolitan Transportation Authority has said for years that its congestion pricing plan is crucial to its budget. In a new debt profile report, the New York State comptroller backed the MTA up.  Comptroller Thomas DiNapoli’s report questioned the MTA’s delayed capital plans, expensive borrowing habits and climbing debt service costs — and

Municipal triple-A yield curves were little changed Wednesday as the primary market demanded investor attention and were well received. U.S. Treasuries were weaker, and equities ended mixed. Several large new-issues priced led by $1.018 billion of the University of Chicago revenue bonds from the Illinois Finance Authority (Aa2/AA-/AA+/), with yields bumped seven to 15 basis

A House Budget Committee hearing on Wednesday drew out two sides of thinking during a debate on the economic effects of immigration as the Republican majority hammered away on the costs. “The Federation for American Immigration Reform has done a great job,” said Committee Chairman, Jodey Arrington R- Texas. ”Studies suggest this cost is upwards of $400