Bonds

New York City’s municipal workers have been leaving their jobs at a faster rate than they can be replaced, according to a report released by state Comptroller Thomas DiNapoli. This staffing shortage could have widespread economic and social implications as it impacts on important city services and programs, the report released Monday shows. Over the

The Missouri Highways and Transportation Commission heads into the market Tuesday with a $489 million new money deal with a new AAA rating attached to the third-lien paper. The commission will take competitive bids on the offering of third-lien state road bonds. PFM Financial Advisors LLC is advising. Gilmore & Bell PC and Bushyhead LLC

Federal Reserve Governor Christopher Waller said “we’ve still got a ways to go” before the central bank stops raising interest rates, despite good news last week on consumer prices. While officials could moderate the size of their rate hikes to 50 basis points at their next meeting or the one after that — after a

Amarillo, Texas, will appeal a state judge’s ruling rejecting the city’s plan to issue $260 million of tax anticipation notes for a civic center project.  Mayor Ginger Nelson said the move was needed to clarify conflicts between the ruling and current Texas law, particularly when it comes to debt issuance. The city filed a notice

Arizona’s water financing agency should think big when it comes to the state’s hunt for new water supplies amid a persistent drought. That was the message from board members of the relaunched Water Infrastructure Finance Authority at its inaugural meeting Thursday. State lawmakers passed legislation in June making WIFA, which dates back to 1989 and

Most members of the House Municipal Finance Caucus appear to have won re-election in Tuesday’s tight midterm elections, while key advocates of state and local tax reform will be exiting the stage next year. As results continued to trickle in Friday, Republicans were on track to gain a narrow majority in the House and Democrats

Chicago could win an upgrade into the single-A category if its new pension funding policy remains on track, S&P Global Ratings said in shifting the city’s general obligation outlook to positive from stable. S&P revised the outlook on the city’s BBB-plus general obligation rating Thursday, the same day Kroll Bond Rating Agency lifted the outlook

Chester, Pennsylvania, has filed for Chapter 9 bankruptcy. The petition was filed Thursday in the United States Bankruptcy Court for the Eastern District of Pennsylvania. In its Chapter 9 filing, the city’s receiver listed estimated liabilities of between $100 million and $500 million with assets of between $10 million and $50 million. The city has

Fitch Ratings has revised the outlook on Miami-Dade County, Florida’s A-rated senior lien seaport revenue bonds issued for PortMiami to stable from negative. Thursday’s action affects $800.3 million of Series 2021A-1, 2021A-2, and 2021A-3 senior lien seaport revenue bonds the county issued on behalf of its seaport department. Fitch said the outlook revision “reflects the

Municipals rallied hard Thursday with the greatest gains seen out long after a lower-than-expected consumer price index report showed inflation is cooling, boosting all markets. U.S. Treasuries rallied out of the gates seeing yields close the session up to 31 basis points lower on the short end of the curve, while equities made massive gains,

Municipals were firmer 10 years and in Wednesday while another week of mutual fund outflows clocked in at $3.8 billion. U.S. Treasuries closed out the session better while equities sold off on weaker earnings. The focus shifted from midterm election results to Thursday’s monthly consumer price index report. “U.S. stocks declined as the midterm election

Democrats Erick Russell and James Diossa won open-seat campaigns for the state treasurer’s offices in Connecticut and Rhode Island. Russell will replace Connecticut State Treasurer Shawn Wooden, who didn’t seek re-election, and Diossa will replace Rhode Island General Treasurer Seth Magaziner, who ran for and won a seat in the U.S. House of Representatives. Russell,

Voters in New York State approved the $4.2 billion Clean Water, Clean Energy, Green Jobs Environmental Bond Act bonds on Tuesday’s ballot. San Diego Unified School District voters approved $3.2 billion for facility and safety improvements. Austin ISD voters approved a $2.44 billion bond package including $2.316 billion for general purposes, $75.5 million for technology

Republicans appeared poised to take control of the House of Representatives but the Red Wave many expected heading into the midterm elections seemed to fade as results trickled in late Tuesday. While many House races won’t be called for a day or two, Republicans were projected to have gained at least six seats late Tuesday,

Federal Reserve Bank of Richmond President Thomas Barkin said the U.S. central bank will “persist” in its efforts to bring high inflation under control. “Inflation should come down. But don’t expect its drop to be immediate or predictable,” he said during an event Monday hosted by his bank. “Our rate and balance sheet moves take

Municipals were little changed and lightly traded ahead of the midterm elections while U.S. Treasuries were weaker across the curve and equities improved. Triple-A yields were little changed to a basis point or two firmer 10 years and out while the U.S. Treasury two-year climbed to another high not seen since 2007. Muni to UST

The Bond Buyer is the only resource you need for election coverage. We will have results of the major bond votes and coverage of the races that matter to the municipal market beginning early Wednesday morning. Our election module will be right below the Latest module on the left rail of our home page. Be

The Internal Revenue Service’s Tax Exempt & Government Entities Division is making clear there will be a beefier IRS presence in the coming year, which may be both a boon and a hindrance to issuers and their attorneys. The TE/GE 2023 Program Letter wasreleased online Friday and lists the division’s priorities for the fiscal year.

St. Joseph’s University in Philadelphia will borrow $200 million in the municipal market as it implements a new operational and strategic vision sped up by this year’s merger with the nearby University of the Sciences. The tax-exempt bonds will price through conduit issuer Philadelphia Authority for Industrial Development next week, according to an online slide

Failure of the U.S. Congress to raise the rum cover rate has a Virgin Islands senator concerned about its finances and its retirement fund. The Virgin Islands government refinanced matching fund bonds in March, planning to use some of the savings to prop up the faltering retirement system, which would have otherwise run out of