A routine change of leadership on the House Committee on Transportation and Infrastructure is looking more like a power struggle in a legislative body that carries weight in public finance policy and rulings. On Wednesday Rep. Rick Crawford ,R-Ark., formally announced he was running for the Chairmanship of the T&I Committee while Rep. Sam Graves,

As the Infrastructure Investment and Jobs Act nears its midpoint, the massive uptick in discretionary grants for transportation infrastructure threatens to undermine the law’s effectiveness because of chronic delays and bureaucratic confusion. That’s what county and state representatives told lawmakers Thursday during a House Transportation & Infrastructure hearing on the rollout of the IIJA’s discretionary

Municipals were steady ahead of a larger new-issue calendar, while U.S. Treasuries and equities were mixed after a better-than-expected jobs report. High-yield and taxable munis outperformed this week, Bond Buyer 30-day visible supply grows to $13.27 billion with $9 billion plus of it pricing next week and opportunistic cash continues to sit on the sidelines.

A group of investors have challenged the legality of the Regents of the University of California’s ability to trigger an extraordinary redemption provision to refund their outstanding Build America Bonds. This may not be the last challenge as several issuers have made clear they intend to use the ERP to refund billions of their outstanding

Fitch Ratings upgraded the New York Metropolitan Transportation Authority’s $1 billion of outstanding transportation revenue bonds (TRBs) to AA from A. The New York City subway system is part of the MTA. “A healthy credit rating is more than just a score, it can attract investors and lower interest rates at which the bonds are

Loop Capital Markets has added four former Citi and UBS public finance professionals to its ranks, joining the growing list of firms to expand their banking teams in the muni space. John Malpiede, John Giammarino and Alain Garcia will be joining Loop Capital from Citi, and Candace Kelly is moving over from UBS.  “The additions

Municipals improved Wednesday, as U.S. Treasury yields fell five years and out and equities saw gains after Fed Chair Jerome Powell indicated rate cuts are still set for this year. “The Fed wants to see continued evidence that inflation is moving closer to target,” said Jeff Lipton, managing director of credit research at Oppenheimer., who

The primary market was the focus Tuesday, as several large deals priced to strong reception, led by an upsized pricing of $1.4 billion from the New York City Municipal Water Finance Authority. Municipals were little changed in secondary trading, underperforming U.S. Treasuries, while equities were down near the close, as all markets await Federal Reserve

The Puerto Rico Electric Power Authority bond trustee said the Oversight Board’s proposed plan of adjustment breaches the bonds’ trust agreement. “There is a fundamental clash between the duties of bondholders to each other in the trust agreement and the three bondholder [plan support agreements (PSAs)] in the plan,” said bond trustee U.S. Bank N.A.

The bankers on a $167.9 million refunding say San Diego Community College District became the first community college in California to tender general obligation bonds in a deal that converted taxable debt into tax-exempt for savings. RBC managing directors Karma Pemba and Katherine Jacobson priced the debt for the community college on Feb. 8, achieving

The municipal primary kicked into swing Monday with New York City Municipal waters pricing for retail investors while the secondary was quiet in light trading leading to a steady tone, even as U.S. Treasuries were weaker and equities were mixed near the close. In the primary market Monday, Siebert Williams Shank held a one-day retail