Price Director

Municipals were mixed in secondary trading Wednesday as the primary market took focus, led by a $1.2 billion deal in three series from the Dormitory Authority of the State of New York. U.S. Treasury yields fell slightly and equities ended up. Thursday’s consumer price index report is the “event of the week,” said Cooper Howard,

Solid investment returns and higher interest rates have been a boon for state and local pension funds, Moody’s Ratings said in a comment piece this week. Strong market performance and higher interest rates have resulted in a $3 trillion drop in unfunded pension liabilities as of June 30 compared to the peak in 2020, marking

Congress is back in Washington, D.C. with a busy week as the Senate launches its 2025 appropriation process and the House holds full Appropriation Committee votes on a transportation and housing spending measure and an energy bill that would see a significant boost in nuclear support. House Republicans have spent weeks advancing various spending measures

Municipals were little changed Tuesday outside of bumps on the front end, as U.S. Treasury yields rose slightly and equities ended mixed. The two-year muni-to-Treasury ratio Tuesday was at 65%, the three-year at 66%, the five-year at 67%, the 10-year at 66% and the 30-year at 83%, according to Refinitiv Municipal Market Data’s 3 p.m.

The Biden administration awarded $504 million in grants last week to a dozen tech hubs across the country to scale up the production of critical technologies and create jobs in innovative industries. The tech hubs are part of a push by the administration to accelerate domestic growth in industries such as biomanufacturing, clean energy, artificial

A year after committing to the funds, the Biden administration Monday inked the formal grant agreement that, along with low-interest federal loans, make up a $11.7 billion package for the Hudson Tunnel megaproject. The money marks the largest federal transportation grant in American history and will allow construction to begin as soon as this month

Municipals were slightly firmer, underperforming U.S. Treasuries, which saw gains up to 10 basis points on the short end, after a better-than-expected jobs report kept a Federal Reserve rate cut in September in play. Equities ended up. While the numbers still suggest a healthy labor market, “this report absolutely keeps the probability of a September

Fitch Ratings affirmed Los Angeles International Airport’s AA rating and stable outlook despite ongoing delays on its automated people mover. The airport’s AA issuer rating reflects “LAX’s superior credit characteristics, including a strong underlying air trade service area, significant operational activity supported by a diverse mix of domestic and foreign-flag carriers, favorable rate agreements with

The Illinois state comptroller reported a 55% year-over-year increase in the end-of-year general revenue fund cash balance as her office paid the state’s bills in a timely manner, a departure from recent years when the state’s unpaid bill backlogs topped $10 billion. Illinois ended the fiscal year with a $1.7 billion balance in the general

Parties in the Puerto Rico Electric Power Authority bankruptcy showed themselves to be further apart than ever before, with the Oversight Board offering little beyond the current plan’s 4% recovery for non-settling bond parties and some bond parties suggesting they should get 100% of what they say is at least an $8.5 billion claim and