The Municipal Securities Rulemaking Board has retired nine separate pieces of interpretive guidance related to Rule G-12(c) on inter-dealer confirmations following the board’s request for comment on the rule. The move follows recent comments submitted by the Securities Industry and Financial Markets Association that urged the board to knock out the provision altogether, and the

The South has been the driving force for United States population growth in recent years – in 2023 for example, the region accounted for 87% of the nation’s population growth, according to the U.S. Census Bureau. That population growth has helped spur economic growth in that region. But the changing climate may turn that equation

Debt issued by the California Community Choice Finance Authority, a conduit for the state’s community choice aggregators, has climbed to nearly $10 billion in the three years since its inception. The first California CCA agency was created in 2010 to offer communities alternatives to purchasing power from private utilities and to encourage growth in more

As states and the federal government grapple with ways to replace or complement the diminishing gas tax, the idea of a per-mile user fee has gained public support over the last decade. That’s according to the latest annual survey from the Mineta Transportation Institute, based at San Jose State University, which for the last 15

The flooding in Vermont last summer illustrates climate change’s impact on U.S. localities and their financial responses. Severe floods that were triggered by several days of heavy rainfall in Vermont left homes washed out and businesses and municipal facilities with severe physical damage. It also left some of the rural communities in the state, which

Harrisburg University of Science and Technology violated its bond covenant at the beginning of the month when it missed a monthly $1.2 million interest payment to the bond trustee. Jessica Warren, Harrisburg University’s executive director of marketing and communications, said the university only needs to make interest payments twice a year on its outstanding bond

Municipals took a breather Friday ahead of the long weekend and a much smaller calendar after seeing yields rise and underperform U.S. Treasuries, pushing ratios to levels last seen in November 2023. In addition to “more attractive raw yields, municipal underperformance has allowed relative values to improve as well,” noted Kim Olsan, senior vice president

Municipals sold off Thursday with more cuts across the curve as a correction has ensued for the asset class just ahead of the summer reinvestment season. U.S. Treasuries saw losses and equities were also in the red. Municipal bond mutual funds saw the second week of outflows as investors pulled $217.6 million from the funds

The U.S. Virgin Islands Water and Power Authority’s financial situation is the worst in more than 30 years, one board director said Thursday. Board Director Hubert Turnbull made the remark at the board’s monthly meeting as a prelude to asking CEO Andrew Smith to explain the authority’s financial situation. WAPA had to turn to the

Indiana officials celebrated the completion of the first of three major commuter railway projects in the northwest part of the state. The Double Track Northwest Indiana project, a $650 million endeavor, involved the creation of a double track on the South Shore Line from Michigan City to Gary. It is now completed and producing revenue,

Munis were weaker Wednesday as the primary market saw a slew of new deals price, adding pressure to secondary market trading. U.S. Treasury yields rose throughout most of the curve and equities ended down. Triple-A yields rose as much as 11 basis points while USTs were weaker by five basis points. As munis have seen

A California Senate committee received few details from the department charged with building a public broadband program on its plans to expand into underserved neighborhoods. The program faced criticism last year for prioritizing upscale cities, like Beverly Hills, over impoverished and middle-class areas, such as Los Angeles’ South Central region and Oakland, communities lacking in

Municipals weakened further Tuesday in secondary trading as a large new-issue slate took focus in the primary market. U.S. Treasury yields fell and equities were in the black. Muni yields were cut up to seven basis points, depending on the scale, while UST yields fell two to three basis points, pushing muni to UST ratios