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Investors should be aware of risks that Build America Bonds pose if called under an extraordinary redemption provision, as many of these could result in losses, especially if the bonds were purchased at a premium,the Municipal Securities Rulemaking Board warned Friday. That comes amid expectations that issuers will redeem $20 to $30 billion in BABs

Municipals saw losses Thursday following U.S. Treasuries to higher yields, while equities sold off after GDP growth slowed in the first quarter. While growth slowed, inflation was hotter, said ING Chief International Economist James Knightley, as the core PCE deflator rose 3.7% on an annualized basis, three-tenths of a point higher than expected. “Unsurprisingly Treasury yields

Brightline, Florida’s privately owned passenger train, hit the tax-exempt market Thursday, after weeks of marketing, with more than $3.1 billion of low-investment grade and unrated bonds, some of which carried yields as high as 12%. The company enjoyed strong demand for all the paper, which was more than two times oversubscribed and saw more than

The California Supreme Court has granted review of a case challenging retirement reforms state lawmakers approved 11 years ago, marking a return of pension spiking questions to the high court for the first time since a 2020 ruling on an Alameda County case. The new case — Ventura County Employees’ Retirement Association v. Criminal Justice

The U.S. Virgin Islands Legislature complained about the governor’s lack of consultation before he declared a state of emergency to pay off Water and Power Authority debts. The legislature gathered Tuesday to express its concerns about Gov. Albert Bryan’s Monday action, which used the emergency declaration to authorize spending the government’s rainy-day funds for WAPA

Moody’s Ratings on Monday revised Illinois’ outlook to positive from stable. The rating agency also affirmed the state’s A3 issuer rating and the A3 rating on Illinois’ general obligation debt and Build Illinois sales tax bonds. It assigned a rating of A3 to $1.8 billion of forthcoming Illinois GO bonds. The new bonds include $250

An Oklahoma law that banned state and local government contracts with investment banks that “boycott” the fossil fuel industry boosted municipalities’ borrowing costs by 59 basis points on average, according to the latest research into the financial impact of so-called anti-environmental, social, and governance laws.   The study released Monday by the Oklahoma Rural Association comes

Fitch Ratings affirmed both Miami Jewish Health Systems and Subsidiaries long-term issuer default ratings and the the city of Miami Health Facilities Authority’s $41 million of Series 2017 revenue bonds issued by on behalf of MJHS at speculative-grade BB-plus. The rating outlook on both is negative, Fitch said. “The affirmation reflects good growth in the

The U.S. Virgin Islands Gov. Albert Bryan Jr. declared a local state of emergency Monday to stabilize the islands’ electrical system and pay Water and Power Authority debts after various government-dependent agencies had not been paying their bills. The state of emergency will let the governor use the central government’s rainy-day fund to provide money