The Bond Buyer

"We have seen an increase in the number of severe weather events, not just the number but also the complexity of their impacts, and it's making the recovery harder," DOT Secretary Pete Buttigieg said.

"At the end of the day, the citizens win," said Shawn Wilson, Louisiana's transportation secretary when the procurement began. "This was not about credit. This was about delivering infrastructure in a way that was going to produce the most value with the least amount of risk exposing the citizens of the state."

“We are following the day-to-day developments, but budget negotiations remain fluid and have already brought us several surprises so far this year,” S&P Global Ratings credit analyst Scott Nees told The Bond Buyer. “So we really want to see what the final budget package that gets passed by City Council looks like before making a determination as to the credit significance of particular provisions being considered.”

Today’s top stories include: Calcasieu Bridge’s P3 winner; Warren sets a tone for Senate tax debate; Muni tax-loss harvesting may lessen; Some bipartisan support for disaster relief; and stock surge apt to balance California’s budget. #municipalbonds #muniland #dealoftheyear

"There is compelling evidence that both institutional and retail investors are leveraging recent yield volatility to book advantageous losses on the Tradeweb platform," according to Tradeweb.

Following initial volatility, "the election didn't knock the muni market down to the mat: It's early in the bout, but so far, the outcome of the election hasn't resulted in any body blows to munis," said Cooper Howard, a fixed-income strategist at Charles Schwab.

"We have designed this competitive project development process to attract extremely capable teams with outside-the-box ideas for bringing water to Arizona and give WIFA the opportunity to publicly and transparently vet those projects, ensuring that we select the right one for our state," said Ted Cooke, chairman of the agency's Long Term Water Augmentation Committee.

A joint conference hosted by all the major regulators of the municipal market became a forum for serious questions about the responsibilities of municipal advisors.

"The county's failure to finalize the bonds last month ended the ability for a 2028 delivery of the ballpark," the team told the commission in a letter sent Tuesday. "As we have made clear at every step of this process, a 2029 ballpark delivery would result in significantly higher costs that we are not able to absorb alone."

The changes in methodologies resulted from regulations adopted following the Great Recession, and how bonds have been treated in the San Bernardino, Stockton, Detroit and Puerto Rico bankruptcies, Hoffmann said.