Bonds

Tennessee is betting nuclear energy will make a comeback. The state, which hosted labs that helped split the atom during World War II, has joined the race to develop and deploy the first commercial-grade variant of a scalable nuclear reactor that promises to provide an important piece of the nation’s green energy network. After appropriating

The Equity in Infrastructure Project has named Everett Lott, director of the District of Columbia’s Department of Transportation, as vice chair of the organization which is dedicated to boosting opportunities for Historically Underutilized Businesses.  “I know firsthand how increasing contracting opportunities for HUBs can change lives and communities for the better,” said Lott. “I am

Municipal bond investors are paying more attention to the credit risks posed by public pension and other retirement liabilities. Municipal finance officers should prepare to address those questions when they apply for bond ratings and sell new issues and may want to consider bond insurance or other forms of credit enhancement to help build investor

Cities and towns should take a hard look at the banks that hold their public funds in light of the recent turmoil in the bank industry. That was the message from panelists speaking Monday at the Government Finance Officers Association’s annual conference in Portland. “You might want to change up how you’re doing your banking,”

Chicago Mayor Brandon Johnson won’t say yet whether he intends to leave in place his predecessor’s executive order earmarking a budget surplus for future supplemental pension contributions.   He also hasn’t committed to which of the tax proposals he advocated the campaign that brought him to the mayor’s office this month he will pursue first.

Municipals were weaker in the belly of the curve Thursday while U.S. Treasury yields sold off on the short end on Fed speak and continued concerns over the debt ceiling impasse. Equities were mixed near the close. Despite the rally in tech stocks, USTs and munis are reacting to uneven economic data and a potential

California lawmakers are betting voters have had a change of heart regarding the need for a statewide school bond measure. The state Senate approved on Wednesday a $15.5 billion school construction bond measure that would go before voters in March that is similar to the $15 billion Proposition 13, a failed school bond measure that

The Financial Industry Regulatory Authority has fined Little Rock, Arkansas-based Crews and Associates $50,000 and its former head trader and chief executive Rush F. Harding $30,000 for their roles in selling municipal bonds with markups to an affiliated bank, with Harding having violated MSRB Rule G-18 on best execution and Rule G-17 on conduct and

Minnesota lawmakers ended their 2023 session after passing a two-year budget with new funding for schools and social services, a $2.6 billion capital package, and a tax package that raises some taxes and fees on top earners and corporations while providing rebates for others and paying off debt for the NFL Vikings’ stadium. The budget

The Oklahoma Supreme Court upheld the dismissal of a lawsuit challenging a turnpike extension plan while it weighs whether initial bonds to finance the $5 billion, 15-year project are valid. In an opinion Tuesday, the high court left intact a December decision by a Cleveland County District Court judge granting the Oklahoma Turnpike Authority’s motion

A ruling by federal officials that could make or break New Jersey’s first major offshore wind farm project is expected this summer. On Monday, the U.S. Department of Environmental Protection’s Bureau of Ocean Energy Management released its Final Environmental Impact Statement for the $1.6 billion Ocean Wind 1 project, a state-supported plan by Danish energy

How can women execs ascend to board leadership for nonprofits — and beyond? Jill Schwartz, a senior Bank of America investment banker who sits on the Women’s Bond Club board, discusses how she became a board director and what roles women are playing on boards and in finance now, in conversation with Chana Schoenberger, American

Governor Brian Kemp of Georgia on Thursday announced the recipients of $225 million of federal health and public facilities development grants funded by the American Rescue Plan Act of 2021. The state selected142 projects from a crowded field of proposals submitted by local governments and nonprofit organizations as per federal regulation that would help “improve

Hoping to fill some of its 784 vacant positions, the Kansas state government held a virtual job fair last week that attracted 204 participants. “These are good-paying jobs with excellent benefits, and we look forward to finding high-quality candidates that are passionate about contributing their talents for the betterment of Kansas,” Lt. Gov. and Secretary

Prominent bond traders said appetite for restructured Puerto Rico bonds is high and the future will likely bring greater market acceptance. Puerto Rico’s local government, through its Fiscal Agency and Financial Advisory Authority, brought the five traders to talk about the bonds at its PRNow conference in New York City Friday. “There’s an enormous demand

Economic and interest rate uncertainties greet the Pittsburgh Water and Sewer Authority’s planned sale of $257.9 million in water and sewer bonds as the authority mixes new money and refinancing in a deal with four distinct pieces. The deal is planned the week of June 4, according to an online “roadshow” presentation for investors. BofA

The Kroll Bond Rating Agency upgraded Connecticut’s long-term general obligation rating to AA-plus from AA on Thursday. The upgraded rating continues Kroll’s stable outlook and reflected Connecticut’s “strong credit profile and significant and continuing progress in improving its financial position over the last six fiscal years,” the agency said. KBRA pointed in particular to the extension

Michigan trimmed its revenue estimates Friday to account for tax changes that carry a multi-billion-dollar price tag. The new projections could require roughly $600 million in reduced spending over what Gov. Gretchen Whitmer proposed earlier this year in the fiscal 2024 budget that would take effect Oct. 1. It relies on available revenue from what

Muni yields climbed even higher to end the week, while U.S. Treasuries were weaker and equities ended down. Muni yields, after outperforming USTs the prior week, “have adjusted higher in a hurry this week in sympathy with the UST selloff,” said Barclays strategists Mikhail Foux, Clare Pickering and Mayur Patel. Triple-A benchmark yields rose four

Terri Velasquez is ending her term as president of the Government Finance Officers Association with a full year of accomplishments. Representing the city of Aurora, Colorado the 20-year GFOA veteran brought a toolkit full of policy innovation and technology solutions to a grateful organization.  Velasquez came into the presidency with a complete set of goals, some

California’s rating outlook was revised to negative from stable Thursday by Moody’s Investors Service amid the state’s revenue uncertainty. The rating agency also affirmed the Aa2 rating on the state’s general obligation bonds, citing the state’s massive economic base and healthy budget reserves and liquidity. The Aa2 rating on the state’s general obligation bonds is