Federal Reserve Bank of Cleveland President Beth Hammack said that while progress on lowering inflation had resumed in recent months, officials aren’t yet ready to declare their mission accomplished.  “We have made good progress, but inflation is still running above the FOMC’s 2% objective,” Hammack said Thursday, referring to the rate-setting Federal Open Market Committee.

Municipals improved Friday after a volatile week for the asset class, ignoring losses in U.S. Treasuries, while equities closed the week mixed. Investors will see higher yields and ratios along with a nearly $11 billion new-issue slate for the final week of the month and the last ahead of the election. Triple-A yields fell three

Record bond volume, a focus on climate, more floating-rate debt and broader integration of municipals into fixed-income markets is on the horizon for the public finance industry. Those are among the factors that will lead to market growth in 2025 and beyond, panelists at this week’s Bond Buyer California Public Finance conference said. The increase

Shreveport, Louisiana, was downgraded by Moody’s Ratings.Adobe Stock Shreveport, Louisiana, was downgraded to Baa2 from Baa1 Wednesday by Moody’s Ratings. The agency maintains a negative outlook on the rating. The downgrade of Shreveport’s issuer, general obligation and senior revenue ratings will affect $2.1 billion in debt when the city completes the anticipated $88 million Series

State and local governments in the West, Southwest and Southeast are leading the pack in economic growth as some analysts are seeing good times for the municipal bond market.  “We’ve had $40 billion monthly in new issue calendars for the last seven months in 2024,” said Tom Schuette, senior vice president and investment grade credit

Houston Controller Chris Hollins’ investor conference took place Tuesday without the  participation of key city officials after Mayor John Whitmore raised “pay-to-play” concerns about corporate sponsorships for the event and requested a city probe. Hollins countered on Tuesday, calling on the Houston inspector general’s office to also investigate corporate sponsorships for the mayor’s Sept. 17

Half Day Forest Preserve in Lake County, Illinois. Lake County Forest Preserves is asking voters to approve a $155 million bond referendum on Nov. 5.Jennifer Shea Voters in the Midwest will see a half-dozen conservation referendums on their ballots, three of them involving bonds. Such local issues have one advantage amid the polarization that has

Half Day Forest Preserve in Lake County, Illinois. Lake County Forest Preserves is asking voters to approve a $155 million bond referendum on Nov. 5.Jennifer Shea Voters in the Midwest will see a half-dozen conservation referendums on their ballots, three of them involving bonds. Such local issues have one advantage amid the polarization that has

Municipals extended their selloff with the largest losses on the short end amid another busy day in the primary market, led by an upsized JFK Airport Terminal 6 Redevelopment Project deal. U.S. Treasuries were little changed and equities ended mixed. Triple-A yields rose three to 12 basis points, playing some catch up after recent outperformance.

The Securities and Exchange Commission’s Examination Division will take a closer look at municipal advisors, specifically non-solicitor municipal advisors in FY 2025, and will begin enforcing the move to a T+1 settlement cycle. That comes on the backs of the Commission’s first case enforcing Municipal Securities Rulemaking Board Rule G-42, which was established in 2016