Municipals were mixed Thursday, outperforming U.S. Treasuries, which saw larger losses following a higher-than-anticipated inflation report, while more outflows from muni mutual funds were reported. U.S. Treasuries sold off after the consumer price index report showed inflation rising, paring back gains after several sessions of a flight-to-safety bid amid the violence in Israel. Equities ended

In a show of support in the wake of the deadly terror attacks, Palm Beach County, Florida, is boosting its investment in Israel. Joseph Abruzzo, county comptroller and clerk of the circuit court, on Monday directed that $25 million from the county’s investment portfolio be invested in Israeli bonds following the surprise weekend attack by

Chicago Mayor Brandon Johnson Wednesday unveiled a $16.6 billion all-funds spending package he dubbed the “people’s budget” that “begins the critical investments necessary” to usher in his progressive vision of solving the city’s significant fiscal and social challenges. The budget proposal features little in the way of new taxes or fees despite Johnson’s campaign pledge

The North Carolina Local Government Commission has approved almost $2 billion in bond and local financing requests from municipalities across the state. The LGC, chaired by State Treasurer Dale Folwell, must sign off on the issuance of any state and local government debt. The North Carolina Housing Finance Agency received approval Oct 3 to issue

California and Illinois are the largest contributors to an expected $1.3 trillion in unfunded pension liabilities for the 50 states in fiscal 2023, according to a Reason Foundation study. California’s public pension systems are projected to be $245 billion short of where they need to be after 2023, the largest miss in the nation, followed

Preliminary Puerto Rico net general fund revenues for the first quarter of fiscal 2024 were 19.7% above Oversight Board projections. Net general fund revenues for July, came in 17.4% above board projections and 16.2% over the collections for July 2022. July net income was $811 million, $121 million more than the board projected.  Puerto Rico

Transportation and issuer groups have expressed support for a Republican Senate bill that would require electric vehicle owners to pay a fee to help support the struggling Highway Trust Fund. Senate Bill 2882, the Stop EV Freeloading Act, would impose a $1,000 fee at the manufacturer level and a one-time fee of $550 on each

Municipals were firmer Tuesday, underperforming a U.S. Treasury flight-to-safety rally. Equities ended in the black. Triple-A muni yields fell up to 10 basis points while USTs rallied upwards of 15 basis points. The two-year muni-to-Treasury ratio Tuesday was at 73%, the three-year was at 73%, the five-year at 74%, the 10-year at 75% and the