The municipal bond market recently experienced a significant downturn, making headlines as yields surged markedly. This correction, characterized by an uptick in yields between five to eighteen basis points, has left investors and analysts scrambling to interpret its implications. Notably, the 10-year municipal bond yield surpassed the 3% benchmark for the first time since early
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Houston, the largest city in Texas and the fourth largest in the United States, finds itself grappling with a perfect storm of financial challenges. Natural disasters exacerbate an already tenuous fiscal landscape, spotlighting the structural budget deficits that threaten to compromise the city’s financial health. Mayor John Whitmire’s recent outreach to state officials for assistance
The U.S. dollar has displayed remarkable resilience over the past weeks, marked by a streak of impressive gains. Yet, it experienced a notable decline recently as traders responded to heightened risk sentiment influenced significantly by external market stimuli. This shift became particularly pronounced following China’s introduction of new funding schemes aimed at bolstering its stock
As the temporary relief provided by the American Rescue Plan Act (ARPA) begins to wane, municipalities across the United States confront the formidable challenge of sustaining their financial health. With local governments previously relying on a combination of federal stimulus funds, robust tax collections, and favorable market conditions, there’s a pressing need to reevaluate fiscal
In the rapidly evolving landscape of municipal finance, the city of Houston has found itself embroiled in a controversy that raises serious questions about ethical governance and fiscal responsibility. The verbal clash between Mayor John Whitmire and city Controller Chris Hollins over potential conflicts of interest related to corporate sponsorships at an upcoming investor conference
The municipal bond market has recently shown resilience, maintaining stability amidst shifting economic indicators. On Thursday, municipal bonds remained relatively unchanged, despite a backdrop of substantial inflows into municipal bond mutual funds and active participation in the primary market. A notable transaction was the $3.2 billion worth of transportation bonds issued by the New Jersey
The ongoing challenge of affordable housing in the United States continues to draw attention from advocates who demand urgent legislative reforms. As various stakeholders converge to influence housing policy, the expansion of Private Activity Bonds (PABs) is emerging as a crucial element in bolstering affordable housing initiatives. As discussions unfold within Congress, particularly in the
In a significant legal ruling, a Utah judge has disqualified a proposed constitutional amendment that was to be voted on during the statewide election slated for November 5. The case revolves around Amendment A, which sought to alter the allocation of state funding by utilizing excess income tax revenues that are primarily designated for K-12
The quest for energy efficiency is a multifaceted journey that requires concerted efforts from consumers, state governments, and federal policies. With the push for sustainable practices becoming more pronounced, the recent development of home energy rebate programs signifies a pivotal shift. After New York set a precedent in May 2023, several states have begun embracing
The ongoing discourse surrounding the need for affordable housing has gained significant traction, particularly during pivotal electoral moments such as the presidential debates. A spotlight has been cast on various strategies to address this pressing issue, with a particular focus on transit-oriented development (TOD). This method of urban planning is emerging as a potential solution