In a week that culminated in headline-grabbing events — a presidential debate, several Supreme Court decisions, more macroeconomic data to add to Fed policy expectations — municipals closed on a quiet note and in the black for June.
Two universities at opposite ends of the state received Moody's downgrades this week.
The Supreme Court decision in SEC v. Jarkesy held that Congress can't force regulated entities to defend themselves in the SEC's in-house court, but likely won't change much for the Public Finance Abuse Unit.
In the first half of 2024, winding-down federal aid, a resurgence of Build America Bond refundings and election uncertainty have contributed to the surge in issuance, said James Welch, a portfolio manager at Principal Asset Management.
The Colorado Educational and Cultural Facilities Authority formed a non-profit subsidiary to facilitate the financing, ownership, and operation of the historic hotel.
California lawmakers were putting the finishing touches on the budget this week before the start of the fiscal year on July 1.
