News
PROMESA at 10: unfinished business
4+ hour, 32+ min ago (1109+ words) Ten years after the signing of the federal Puerto Rico Oversight, Management and Economic Stability Act, many analysts say it has been better at cutting debt and delivering balanced budgets than at improving the island's political culture and strengthening its…...
Texas and New Mexico see oil tax revenue bonanza
46+ min ago (554+ words) More oil-related revenue flowed into state coffers in the wake of the Iran conflict, with New Mexico estimating a $500 million boost and Texas reporting record-high collections from its oil production tax in June." The war, which the Trump administration commenced…...
Gateway funding can't be blocked over DEI policy, judge rules
14+ hour, 50+ min ago (563+ words) The Gateway project should be permanently safe from last year's Trump administration attempt to strip its funding, according to a federal court ruling on this week. The project's centerpiece is a new, two-tube rail tunnel under the Hudson River, where…...
Ways and Means panel takes aim at tax-exempt stadium bonds
20+ hour, 6+ min ago (1184+ words) The use of tax-exempt bonds for professional sports stadiums took a beating Tuesday at a four-hour House Ways and Means Committee hearing where lawmakers from both sides of the aisle said they're interested in changing the tax code to halt…...
Redefining bond market leadership
1+ day, 2+ hour ago (542+ words) The U. S. bond markets finance our roads and schools, fuel job creation, and move capital into every community in the country. For two decades, the Bond Dealers of America has been the only trade group built around a single mission: advocating'directly…...
USTs cheapen, but munis mostly steady
1+ day, 16+ hour ago (291+ words) Munis were mostly steady on Tuesday as U. S. Treasuries cheapened. Equities ended higher. Muni yields richened by up to two basis points on most scales, although the MMD scale showed them up to two basis points higher in some maturities. UST…...
Investors to issuers: take our calls
1+ day, 19+ hour ago (748+ words) Municipal bond buyers have a message for bond-issuing cities and states: pick up the phone when we call. "We're not asking for any edge, but if one of your large investors is calling, please take our call," Dan Close, head…...
Nevada releases fiscal 2024 audited financials
1+ day, 18+ hour ago (419+ words) Nevada notched some progress in its work to get the state's audited financials out, releasing the fiscal year 2024 documents. The annual comprehensive financial report posted to the Municipal Rulemaking Board's EMMA website on Friday " just shy of two years after…...
Litigation filed to stop Oklahoma Turnpike project, bond funding
1+ day, 18+ hour ago (526+ words) A recent lawsuit challenging an Oklahoma Turnpike Authority (OTA) project on environmental grounds, seeks to halt bond financing ahead of a proposed $1. 5 billion debt issuance for a toll road expansion and improvement program. Pike OFF OTA sued the turnpike and…...
San Juan plans to borrow $356 million
1+ day, 18+ hour ago (457+ words) Puerto Rico's largest city, San Juan, plans to borrow $356 million in bonds and notes in the near future." The Puerto Rico Oversight Board approved the borrowing plans in a letter to Francisco Domenech Fernandez, executive director of Puerto Rico's Fiscal…...