Bonds

Municipal bonds rallied Wednesday as triple-A benchmark yields fell as much as five basis points out long but bumps were seen across the curve, moving levels on high-grades below 1% on bonds maturing inside 14 years, while another round of billion-plus inflows were reported. The Investment Company Institute reported $1.089 billion of inflows into municipal
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Puerto Rico Gov. Pedro Pierluisi signed a bill Wednesday rejecting any pension cuts and undoing pension reforms enacted in 2017, despite these cuts and adjustments being part of the proposed plan of adjustment and approved fiscal plan. “The public pensioners dedicated years of their lives to the service of our people and were the engine
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Armed with strong rating agency reviews and with an eye toward infrastructure and workforce development, Maine expects to come to market the week of June 7 with a $99 million negotiated general obligation bond sale. The deal is comprised of $82 million of Series B tax-exempt and $17 million of Series A federally taxable bonds,
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House Democrats have introduced a five-year $547 billion surface transportation reauthorization bill that the committee will consider next week. House Transportation and Infrastructure Committee Chair Peter DeFazio, D-Ore. unveiled their INVEST in America Act Friday. The bill would provide federal funding for roads, bridges, mass transit, and rail infrastructure which is important for many issuers
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Illinois lawmakers signed off on the Metropolitan Pier and Exposition Authority’s subsidy request, providing a backstop for the agency to weather the pandemic’s lingering wounds. The agency also is finalizing its next debt restructuring to provide another tool to manage loss of tax and operational revenues after the pandemic shut down the convention business last
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The Puerto Rico Senate filed suit Tuesday afternoon against the privatization of the transmission and distribution systems of the Puerto Rico Electric Power Authority, though analysts suggest the suit does not have a strong chance of success. Later Tuesday, a judge in the Court of the First Instance, based in San Juan, issued an order
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The multibillion-dollar New York-New Jersey Gateway train tunnel project can move forward following a milestone ruling from two federal agencies announced Friday. The Federal Railroad Administration and Federal Transit Administration released the Final Environmental Impact Statement (EIS) and Record of Decision (ROD) on the Hudson Tunnel Project, which allows pre-construction activities such as real estate
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