Municipal analysts are concerned the growing federal government debt may lead to challenges for municipal finances in the near-, medium- and long-term. The increasing federal debt may force states and local governments to pay higher rates on their bonds. “Since some municipal investors may also choose Treasuries given their very low risk, the greater supply

Municipals were slightly weaker as the focus turned to a large new-issue day with deals upsized and accelerated. The asset class followed U.S. Treasuries to higher yields while equities closed the session up. Triple-A yields rose one to five basis points, depending on the curve, while UST yields rose up to four basis points. The

Los Angeles Mayor Karen Bass broadened her priorities from tackling homelessness and police officer retention, presenting a plan in her State of the City speech to comprehensively evaluate city departments to make them more effective as she wrestles with a $467 million deficit. The mayor will present her budget later this week. The city has

Brodie Killian has moved to PFM Financial Advisors from Stifel Nicolas & Co., joining its Ann Arbor office as a director. The move represents the capstone achievement of Killian’s broad career in the municipal bond market, he told The Bond Buyer.  “My past experience gives me a unique perspective as a municipal advisor who has

The private sector has until the end of April to submit unsolicited proposals for transportation projects to the Pennsylvania Department of Transportation. PennDOT’s Office of Public-Private Partnerships, one of the country’s most active P3 state DOT agencies, accepts unsolicited P3 bids twice a year, in April and October. Interested companies can submit proposals “offering innovative

The not-for-profit healthcare sector continues to face challenges, including a high number of bond covenant violations, which can provide an early warning of payment defaults, said Lisa Washburn, chief credit officer and managing director for Municipal Market Analytics.   “The hospital sector has definitely seen improvement since the worst of 2022, but I would still

The late March collapse of Baltimore’s Francis Scott Key Bridge raises questions about the age and resiliency of U.S. infrastructure that engineers and the finance industry will need to address together. That’s the view of Maria Lehman, immediate past president of the American Society of Civil Engineers, GHD’s infrastructure market leader for the United States

Spreads on Build America Bonds have widened “significantly” in the last few months amid a wave of refinancings despite a debate over the legal ability of issuers to call the debt, according to municipal bond strategists. So far this year, the BABs index option-adjust spread has cheapened 10bps compared to the ICE Broad Taxable Municipal