This week’s commentary starts with a review of Lumesis’ DIVER Geo Scores, highlighting the strongest and weakest states. Lumesis also explores the trend of relative economic weakness in Washington State, tallies pension developments over the last week and details similarities between New Jersey in 1997 and Kansas in 2015.
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The California State School Board Association has sued over an education funding work-around included as a trailer bill in the budget.
The Texas city expects to finance 72% of the expansion program, which includes an arrivals and departures hall, with general airport revenue bonds.
Disruption was on the minds of those gathered in Chicago last week for MuniTech, a conference billed as a magnet for the "tech-forward" in public finance.
The banking giant has been fined for reporting 65,335 municipal securities transactions that it shouldn't have, violating MSRB Rule G-14 on customer transaction reporting and MSRB Rule G-27 on supervision.
Litigation in Arizona, Oklahoma, Texas, and Utah could determine bond issuance, culpability for defaults, or the constitutionality of underwriter bans.
"As September draws to a close, some dynamics may prevail in October but others could undergo a shift," said NewSquare Capital's Kim Olsan. "One aspect that will continue is the level of supply coming to market."
