The Arizona Legislature wrapped up its session Saturday, passing legislation to mitigate the impact of a $329 million property tax refund to be paid by Maricopa County governments and school districts, as well as a fiscal 2025 budget that tackles a two-year deficit. The refunds resulted from a stipulated judgment issued in February for class-action

Municipals were steady to slightly weaker in spots as U.S. Treasury yields rose and equities ended up. Despite some slight weakness Monday, munis continued “their impressive start to June,” with yields falling 10 to 13 basis points last week, Birch Creek strategists said. Munis have rallied roughly 24 to 29 basis points month-to-date, a “complete

Lackawanna County, Pennsylvania, faced persistent budget gaps patched with one-time revenues, two ratings downgrades since September, and its upcoming scoop-and-toss bond deal will yield spiking debt service costs in the coming years.  But the county believes its upcoming financial plan and hidden economic strengths will turn around its fortunes.  “For anyone who still thinks this

Louis English joined Janney Montgomery Scott as managing director and head of municipal sales within the fixed-income division. He will be based out of the firm’s Chicago office. English comes to Janney from Baird, where he worked as a producing sales manager. He also worked as a municipal salesperson at Mesirow, Loop Capital Markets and

Transit agencies across the country are being forced to deal with new trends in ridership, new travel patterns, and dwindling federal funds from pandemic- related relief that make the next few years crucial for bringing our nation’s transit system into the new world. That was the takeaway from the House Transportation and Infrastructure Committee hearing

Fitch Ratings upgraded San Diego County’s pension obligation bonds to AAA and affirmed a stable outlook during a review ahead of the county’s plans to price a $31.5 million certificates of participation refunding. Fitch upgraded $211 million outstanding POBs to AAA from AA-plus, matching the agency’s issuer rating for the county. It also affirmed the

Federal Reserve Bank of Cleveland President Loretta Mester said she still sees inflation risks as tilted to the upside despite welcome news in the latest data. Mester, speaking in print and television interviews Friday at Bloomberg’s New York office, also said the median projection of policymakers’ latest forecasts — which signaled just one interest-rate cut

Municipals were firmer ahead of an uptick in issuance next week, while U.S. Treasury yields fell slightly and equities ended mixed. USTs extended their rally this week after receiving support from “softer” economic data as yields fell 18 to 24 basis points on the week and a total of 20 to 30 basis points month-to-date,