In surprise move, Rand Paul targets Fed's Municipal Liquidity Facility

The Federal Reserve's dormant emergency lending program for state and local governments set up during the COVID-19 pandemic had a surprise return to the spotlight last Friday when Sen. Rand Paul, R-Ky., introduced a measure banning the central bank from reviving the program or buying municipal bonds in the future.

?

Registration is open for The Bond Buyer?Texas Public Finance conference?in Austin in April.

?

The headwinds facing the University of Idaho's plan to acquire the University of Phoenix got a lot stronger this week; as did obstacles toward issuing bonds to fund the $685 million purchase through U of I's affiliated nonprofit, Four Three Education.

?

Register for The Bond Buyer's new?Southeast Public Finance?conference coming May 6-7 in Hollywood, Florida.

?

Harvard University saw strong market reception for $750 million of taxable corporate CUSIPs Tuesday, becoming the latest prestigious university to tap the muni market due to pent-up capital needs amid a steadier rate environment.

?

Read the newest?research from The Bond Buyer?detailing the public finance industry’s views of the risks and opportunities in 2024.

?

The New York Metropolitan Transportation Authority and the Triborough Bridge and Tunnel Authority are planning several note and bond sales this month, the MTA said.

?

Sign up here to receive The Bond Buyer's complete newsletter — delivered to your inbox daily.

?

Municipals improved Wednesday, as U.S. Treasury yields fell five years and out and equities saw gains after Fed Chair Jerome Powell indicated rate cuts are still set for this year.