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News
Pause in Iran hostilities gives munis a reprieve
12+ hour, 24+ min ago (294+ words) Munis were stronger on Monday, with a light calendar ahead of the Federal Open Market Committee meeting, as U.S. Treasuries richened and equities ended mixed. Muni yields were bumped up to five basis points, depending on scale. UST yields richened up…...
Another missed debt deadline for Brightline Florida
12+ hour, 24+ min ago (616+ words) Brightline Florida bondholders have agreed to yet another short-term debt extension while the train line continues to negotiate a debt restructuring. The struggling company has until the end of the week to make the payments, negotiate another extension, or reach…...
Illinois private K-12 school defaults on bonds, shuts doors
16+ hour, 41+ min ago (744+ words) Roycemore School in Evanston, Illinois, defaulted this month on the loan agreement its unrated revenue bonds and will close its doors for the 2026-27 school year. Roycemore was a co-ed college prep school serving students in pre-K through grade 12. Nestled on…...
Northeast states avoided big swings in their 2027 budgets
21+ hour, 32+ min ago (1766+ words) Budget season is over, and many Northeast states managed to scrape by without meaningfully changing their tax codes. Northeast states are feeling a revenue crunch, with new demands on their revenue from the federal government and cash-strapped municipalities. They're also…...
Fitch downgrades bonds backed by Pennsylvania fuel taxes
21+ hour, 33+ min ago (548+ words) Fitch Ratings downgraded bonds from the Pennsylvania Turnpike Commission backed by oil franchise tax revenues. Lower fuel consumption in Pennsylvania will cause the bonds' pledged revenues to gradually decline, in Fitch's view. Fitch affirmed the AA-minus rating on the turnpike's…...
Housing Innovation Virtual Summit 2026
3+ day, 19+ hour ago (129+ words) Session Bond Buyer Housing Innovation Virtual Summit 2026 As housing affordability remains a top national priority, policymakers in Washington are advancing a wave of legislative and regulatory initiatives aimed at boosting housing supply, expanding affordability, and reshaping the role of federal…...
Munis, USTs richen slightly in spots
3+ day, 13+ hour ago (337+ words) Munis were steady to slightly firmer in spots Friday, while short-term U.S. Treasuries saw small gains and equities ended mixed. With the Federal Reserve meeting next week, there should be "relatively manageable" tax-exempt supply, which should ease the pressure on bids…...
California high-speed rail projects agree to collaborate
3+ day, 15+ hour ago (731+ words) The California High-Speed Rail Authority has signed a memorandum of understanding with the High Desert Corridor Joint Powers Agency in the hope of realizing cost savings for both passenger train projects. The signers say the MOU signed Tuesday will deepen…...
Texas board approves state water plan with $174 billion price tag
3+ day, 15+ hour ago (368+ words) The Texas Water Development Board adopted a 2027 State Water Plan on Thursday that calls for a massive estimated $174 billion investment in water infrastructure over the next 50 years. The price tag for the Phase 1 plan is more than double the $80 billion…...
Appellate court allows bond revenues to remain with city of Chester in bankruptcy case
3+ day, 17+ hour ago (761+ words) An appellate court ruled in favor of Chester, Pennsylvania last week, determining that pre-existing liens backing bonds did not survive the city's 2022 bankruptcy. The decision gives Chester access to the revenue streams that bondholders had fought to preserve for their…...