Bonds

Walk the walk, not talk the talk on fighting climate change and supporting environmental, social and governance goals, New York City Comptroller Brad Lander told BlackRock CEO Larry Fink on Thursday. Voicing concern that BlackRock Inc.’s investment actions don’t match up with its ESG policy commitments, Lander sent a letter to the company requesting immediate

Municipals were hit hard on the front end of the curve but the damage was felt throughout as triple-A yields rose up to 15 basis points and mutual fund outflows topped $2 billion. U.S. Treasuries sold off and equities were mixed. Municipal yields rose up to 15 basis points on the one- and two-year with

Kaufman Hall & Associates LLC will acquire the consulting firm Claro Healthcare to scale up on the depth of its professional services for hospital and health systems that are navigating ongoing COVID-19 wounds made worse by a labor shortage and high expenses. Kaufman Hall, which specializes in the healthcare and higher education sectors, said Thursday

State legislatures could see a record number of new faces elected in November.  More than 25% of the 6,278 state legislative seats up for election will see a newcomer. Heated primary battles ousted a surprising number of Republican incumbents, and the recent redistricting, as always, has led to an increased rate of open seats. State-level

The failed endeavor to build the Carolina Panthers football franchise a new headquarters in York County, South Carolina, has resulted in a thorny legal battle over who is to blame. Construction on the planned $800 million mixed-used facility in Rock Hill, meant to include state-of-the-art training facilities, office space, millions in utility investments, and green

A dozen major financial firms have been sued for at least $1.42 billion because of their work on Puerto Rico municipal bonds and interest rate swaps dating back to 2007. Puerto Rico’s government and the Oversight Board initiated the suit against Barclays Capital, BMO Capital Markets, Banc of America Securities; Citibank; Goldman Sachs Bank USA;

Municipals sold off across the yield curve amid elevated selling pressure as the first day of the Federal Open Market Committee meeting began Tuesday, with the one-year muni well above 2.5% and the 10-year surpassing 3%. U.S. Treasuries were weaker and equities ended down. Triple-A benchmark yields rose eight to 10 basis points, depending on

Midwest voters will make a range of decisions in the November election from ballot measures that impact their schools’ fiscal fortunes to governor picks that will shape future decision making. The governor’s offices in Illinois, Iowa, Michigan, Minnesota, Nebraska, Ohio, South Dakota, and Wisconsin are on the Nov. 8 general election ballot. Incumbents in all

Municipals were weaker on the front end of the curve ahead outperforming larger losses on U.S. Treasuries that saw the two- and three-year yields rise to near 4% and the highest they’ve been since 2007. Triple-A muni yields rose another five basis points on the short end while UST rose up to seven. Two- and

The Municipal Securities Rulemaking Board has voted to amend its Rule G-40 to allow municipal advisors to use testimonials in advertisements and Rule A-12 to make changes to Form A-12 on registration. The changes to G-40 will amend the current provision that states “a municipal advisor shall not, directly or indirectly, publish circulate or distribute

Puerto Rico Electric Power Authority mediation ended Saturday morning and the Oversight Board is proposing that litigation commence, as the sides were unable to reach an agreement. “[S]harp differences over what a reasonable settlement is” remain, the board said. The sides “also differ on some key legal issues.” The current round of mediation started in

With their revenues beating expectations through stronger-than-expected tax receipts and federal pandemic aid, many states have used the extra funds to pay down unfunded pension liabilities accrued in some cases over decades, according to a Pew Charitable Trusts report on state pension systems. The combination of increased contributions and surging investment returns “has had a

Municipals were weaker on the front end of the curve as selling pressure mounted all week while U.S. Treasuries were mixed and equities ended down again. Investors will be greeted with a lackluster calendar of a mere $1.4 billion total and only two deals over $100 million as issuers hold back with the Federal Open

New York City could use municipal bonds as a way to finance better outcomes for migrants coming to New York from Ukraine and the southern border, city Comptroller Brad Lander said. Asylum seekers coming to the Big Apple could benefit from a new economic initiative tied into an inclusive strategy, Lander said during a webinar

Ohio-based ProMedica Health System lost its final investment grade rating when Moody’s Investors Service cut the credit citing ongoing losses as the system struggles with ongoing COVID-19 related challenges that have hit its senior care business especially hard. Moody’s dropped the rating two notches to Ba2 from Baa3 Monday and warned of further deterioration by

The municipal market is rattled by legislation pending before the Senate that would require governments to standardize their financial reports, with opponents warning it would be onerous and costly and ultimately could shrink tax-exempt supply. Supporters counter that the move would benefit investors and regulators and the cost of compliance is exaggerated. Though introduced months

Municipals were weaker Thursday as mutual fund losses climbed another $1.4 billion, while U.S. Treasuries sold off five years and in and equities ended in the red as ongoing concerns over Fed policy hang over markets. Municipal triple-A yields rose two to three basis points while UST rose up to eight on the short end

Guam’s governor approved a fiscal 2023 general fund net budget 14.4% larger than the current one, as revenues continue to exceed forecasts, offering some financial flexibility. Guam Gov. Lourdes Leon Guerrero signed the legislature-delivered budget earlier this week, but warned lawmakers about planning uses for excess revenues before an audit. In a memo to Legislature

James Diossa, the former mayor of Central Falls, Rhode Island’s smallest city, won the state’s Democratic primary election for treasurer on Tuesday. He bested Stefan Pryor, former Rhode Island commerce secretary with 55% of the vote, according to results from the local election office. The victory advances Diossa towards a Nov. 8 general election showdown

A company that plans to make diesel fuel out of plant waste has won Louisiana authorization to issue up to $1.1 billion of tax-exempt revenue bonds. The Louisiana Community Development Authority’s executive committee voted unanimously Thursday to adopt a resolution granting final approval for the private activitybond issuance to finance a large share of the