Muni Bond Pros Paying Close Attention to Infrastructure Bill: Will Muni Bond Provisions Make It In?
The infrastructure bill currently being constructed in Congress has big implications for municipal bonds, but some observers are concerned that lawmakers may opt for a smaller package, leaving key municipal bond provisions on the cutting room floor. From the Bond...
SEC Should Force Municipal Issuers to Disclose Climate Risk, Says Former Fidelity President
The SEC has taken action in recent months to increase public companies’ disclosure of climate risk. But no such movement exists in the long-term municipal bond market, despite being particularly exposed to climate risk. Robert C. Pozen, Senior Lecturer at MIT...
Texas Deep Freeze Leaves Municipalities Scrambling to Pay Power Bills
In the wake of extreme weather that threw Texas utilities into chaos last month, some municipalities are having to sell long-term bonds just to pay for one week’s power bill. It’s not just small towns scrambling for cash. San Antonio is among the cities...
Chicago Will Use Half Its $2B Stimulus Aid to Pay Down Debt
The recent stimulus package will send $1.9 billion in relief to Chicago, but city officials have warned alderman that no spending spree is incoming. The city will use over half of the relief money to pay down debt incurred during the pandemic. From the Chicago...
Downgrades Outpace Upgrades, But Municipal Credit Profiles “Quite Stable”: Fitch
Credit downgrades outpaced upgrades in the 1st quarter of 2021, according to a new Fitch note, with the agency downgrading 32 public bonds and upgrading only 14. Still, municipal governments maintained relative stability, according to Fitch analysis. More from Fitch:...Listen to Our Civic Development Podcast!
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