Bonds

Puerto Rico Gov. Pedro Pierluisi on Thursday proposed removing pension cuts from the island’s debt restructuring negotiations, asking legislators instead to deal with the issue in regular budget negotiations. Observers say the move is political and unlikely to help parties come to consensus over the pension issues, and further complicates getting the Plan of Adjustment
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At $3.16 billion in June, Texas sales tax collections were 18% higher than the same month a year ago and 10.4% above those in June 2019, State Comptroller Glenn Hegar said. “Monthly state sales tax collections remained exceptionally strong, with receipts from all major sectors other than those related to oil and gas surpassing pre-pandemic
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Municipals were better on light but strong trading in the secondary, as dealers pushed benchmarks lower with large blocks of high-grades exchanging hands but sales to customers also showed strong interest. U.S. Treasuries helped direct municipals to lower yields as the UST 10-year fell to 1.36% — the lowest since Feb. 24 — and the
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Challenges for U.S. mass transit will continue as providers face new and developing credit risks including continued transition to remote work, according to S&P Global Ratings. “Potential displacement of ridership bases, a persistent shift toward remote work, hybrid work schedules and online shopping pose the greatest risks to traditional public transit operating models in general,”
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The Bureau of Ocean Energy Management will begin an environmental review on the Coastal Virginia Offshore Wind project, a first step in the permitting process for Dominion Energy’s 2.6-gigawatt commercial wind project. U.S. Department of Interior Secretary Deb Haaland announced the review on a tour of the port on Thursday for the project, which is
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