Bonds

Vacant office space is advertised in San Francisco. The city wants to make it easier to convert offices into apartments.Bloomberg News Office market turmoil since the COVID-19 pandemic amid a housing shortage has driven calls for office-to-residential conversions in San Francisco and Los Angeles. While the concept sounds simple, so far such conversions have been

President Donald Trump in the Oval Office on Friday.Bloomberg News For municipal bond investors – and investors overall – an executive order signed Tuesday by President Donald J. Trump could erode confidence that the Securities and Exchange Commission will be willing to take action against “politically favored fraudsters.” “One thing I would worry about if

Illinois Gov. JB Pritzker speaks in Washington, D.C., in January. The governor devoted a healthy chunk of his budget address to warnings about and defiance of the Trump administration.Bloomberg News Washington’s threats to state and local government funding took center stage when Illinois Gov. JB Pritzker Wednesday delivered his seventh budget address to a joint

Marion, Illinois, plans to sell $115 million of STAR bonds to finance the redevelopment of a mall and surrounding parcels of land. City of Marion In a first for the Midwest, a city in southern Illinois plans to use sales tax and revenue bond proceeds to fund a mall redevelopment. Next Wednesday, Stifel will price

“The burden is on State Farm to demonstrate that interim relief is warranted under the circumstances,” California Insurance Commissioner Lara wrote in his letter. “My goal is to make sure policyholders do not have to pay more than is required.”California Insurance Commissioner’s office California Insurance Commissioner Ricardo Lara denied State Farm’s request for “emergency” rate

“The status quo allows the governor to manufacture budget numbers that support his policy agenda, rather than a consensus approach that would reflect legislative input,” Oklahoma Attorney General Gentner Drummond said.Oklahoma Attorney General’s Office Oklahoma’s fiscal 2026 general revenue fund collections are expected to dip below fiscal 2025 projections as the state considers an income

“This budget resolution provides the fiscal framework for what will be one of the most consequential pieces of legislation in modern history and the principal legislative vehicle for delivering on President Trump’s America First agenda,” House Budget Chairman Jodey Arrington, R-Texas, said.Allison Robbert/Bloomberg The House Budget Committee late Thursday passed a partisan budget resolution that clears

“A key credit risk for airports is financial exposure from litigation, which is generally mitigated by insurance,” said Kurt Forsgren, US Public Finance Managing Director, S&P Global Ratings. ”While safety concerns could weaken an airport’s desirability and demand over the long term, this hasn’t been observed for major US airports.”S&P Global Ratings A history of close

Florida Gov. Ron DeSantis’ proposed fiscal 2025-2026 budget provides no pay increases for most of the state’s workers.Bloomberg News Analysts generally see Florida Gov. Ron DeSantis’ recently proposed fiscal 2025-2026 budget as fiscally responsible, with steps to pay down the debt, reduce overall spending, and strengthen requirements for issuing new debt. The proposed budget comes

“There’s still much work to be done, but we are starting on the right path,” House Speaker Mike Johnson, R-La., said about a budget resolution that outlines topline numbers for a massive tax bill.Bloomberg News The House released its long-awaited budget resolution Wednesday, a key step toward crafting a massive tax package that’s being closely

“Homeowners, not insurance companies, should receive the interest earned on their insurance payouts,” said California Assemblymember John Harabedian, D-Pasadena. California Assemblymember John Harabedian’s office In the wake of Los Angeles’ devastating wildfires, California Gov. Gavin Newsom’s office announced he is sponsoring legislation that would ensure that homeowners, not lenders, benefit from interest earned on insurance

“Our job is to take that volatility, figure out what’s noise, figure out what’s reality, and lean into the opportunities as we see them,” said Alex Petrone, director of fixed income at Rockefeller Asset Management.Rockefeller Asset Management The year 2025 brought a lot of uncertainty — macro, geopolitical, muni-specific policy and unknown headlines risks —

“In Texas, resilient growth is expected to continue in 2025 at about the same pace as 2024,” Dallas Federal Reserve Vice President Labor Economist Pia Orrenius said, adding risks to the outlook include, tariffs, sharply lower immigration, and a rollback in federal government spending. Dallas Federal Reserve Job growth will continue to trend lower in

Pennsylvania Gov. Josh Shapiro at the State Capitol in Harrisburg on Feb. 28, 2024.Bloomberg News The 2024 election results created national political upheaval, but in Pennsylvania, voters sent their state legislators back to Harrisburg with the exact same margins. “The good people of Pennsylvania looked at all we’ve accomplished together,” Gov. Josh Shapiro said in

Hawaiian Airlines is the largest airline in Hawaii with extensive inter-island service. Hawaiian Airlines When the Hawaii Department of Transportation heads to market Feb. 13 to sell up to $855 million of tax-exempt airport system revenue bonds, it will do so with across-the-board double-A ratings after receiving a ratings boost from Moody’s Ratings. Moody’s upgraded

US President Donald Trump signs an executive order to create a sovereign wealth fund with Scott Bessent, US Treasury secretary, left, and Howard Lutnick, chief executive officer of Cantor Fitzgerald LP and US commerce secretary nominee, right, in the Oval Office.Chris Kleponis/Bloomberg President Donald Trump Monday signed an executive order that will start the process

A bill filed by an Oklahoma Republican lawmaker would change which state official enforces 2022’s Energy Discrimination Elimination Act and remove bond and note sales from a contract ban.Bloomberg News The sale of bonds or notes by Oklahoma governments would be exempted from a contract provision in a 2022 state law that has led to

Texas State Sen. Brandon Creighton said Senate Bill 2 would provide nearly 100,000 students with education savings accounts, which would result in the largest “school choice” program launch in the nation. Texas Senate Texas lawmakers on Tuesday kicked off their latest quest for school vouchers with the passage of a universal program by a Senate

Oklahoma Turnpike Authority Executive Director Joe Echelle said meetings will be held in February with sponsors of bills that seek legislative approval for toll hikes, a cap on outstanding bonds, and other matters.Oklahoma Turnpike Authority The Oklahoma Turnpike Authority will head to market this week with its biggest-ever revenue bond sale to continue financing a

“The assumption that FEMA is there protects every credit,” said Sarah Sullivant from S&P Global Ratings.S&P Global Ratings President Donald Trump signed an executive order Sunday establishing a task force to evaluate the Federal Emergency Management Agency as he floated the idea of abolishing a department that many in the municipal bond market consider key to