Politics

The recent market developments have created a significant amount of volatility and uncertainty among investors. Municipalities faced losses as U.S. Treasuries yielded higher returns, prompting equities to sell off after a slowdown in GDP growth during the first quarter. This downturn in economic growth was further compounded by rising inflation rates, particularly with the core
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Wyoming recently received a positive outlook from S&P Global Ratings, with the agency affirming the state’s AA issuer credit rating. This positive outlook comes as a result of the state’s healthy reserves and plans to increase permanent funds to mitigate revenue fluctuations. S&P analyst Savannah Gilmore highlighted the state’s robust budgetary performance over the current
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In the ever-evolving world of infrastructure law, Norton Rose Fulbright has made a significant move by bringing on board Patrick Harder to co-head the firm’s U.S. and North America infrastructure groups. Harder, a seasoned attorney with over 20 years of experience in public-private partnerships (P3) and infrastructure, joins Norton Rose after an impressive tenure at
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During a recent Senate Finance Committee hearing, IRS Commissioner Danny Werfel defended the agency’s need for increased funding. Werfel requested an extension of IRA funding through fiscal 2034, arguing that it would generate additional revenue for the government. He highlighted the positive impact of the Inflation Reduction Act funding on the IRS’s operations, leading to
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San Diego Mayor Todd Gloria recently unveiled a $5.65 billion proposed budget for the city, which includes borrowing and other short-term fixes to address a structural deficit. The budget plan focuses on increasing spending on homeless prevention programs, infrastructure projects, and critical services, while cutting non-personnel expenses and diverting funds from special accounts. However, the
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Build America Bonds (BABs) have been experiencing significantly widened spreads in recent months due to a surge in refinancing activity. Despite a debate over the legal ability of issuers to call the debt, municipal bond strategists have observed a cheapening trend in the BABs index option-adjust spread compared to the ICE Broad Taxable Municipal Bond
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