MSRB issues request for comment on time of trade proposal

The Municipal Securities Rulemaking Board is seeking comment on draft amendments to Rules G-47 on time of trade disclosures and D-15, which defines the sophisticated municipal market professional. “We are finding opportunities to modernize certain rules in light of evolving market dynamics and to streamline our rule book by codifying certain guidance into the relevant rule and retiring guidance that no longer reflects market practices," said Saliha Olgun, interim chief regulatory officer for the MSRB.

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A big Texas bond deal to recover extraordinary costs incurred by natural gas utilities during a fierce 2021 winter storm finally won approval Friday from a state board, paving the way for pricing next month. The Texas Bond Review Board approved the issuance of up to $3.6 billion of taxable customer rate relief bonds by the Texas Natural Gas Securitization Finance Corporation after delaying action on the deal in November to conduct a review of the transaction.

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Tax-exempt bonds for sports stadiums are once again in the crosshairs under a bill introduced this week by Rep. Earl Blumenauer, D-Ore. The bill would amend the tax code – or "close a loophole," as Blumenauer said – to eliminate the federal tax exemption for bonds that finance or refinance capital expenditures for a stadium or arena that is used for professional sports

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Property tax cuts and expanded school vouchers will be fast-tracked for consideration by Texas lawmakers after Gov. Greg Abbott included them in a list of emergency items for the legislative session.

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New York City is heading to market with the biggest municipal bond deal of the holiday-shortened week, a $677.45 million tax-exempt general obligation bond offering that will refund some outstanding debt.?

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Municipals were weaker Friday ahead of a holiday-shortened week with a smaller new-issue calendar. Triple-A benchmarks were cut three to 11 basis points, depending on the scale, pushing the one-year muni above 3% and the 30-year to 3.50%.?

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