MuniLand

Detroit Mayor David Bing (@mayordavebing) updates Michigan Governor Rick Snyder (@onetoughnerd) on budget issues. It’s great to see the collaboration.

Good Links

Reuters: NYC Mayor Bloomberg: Highly indebted U.S. could go the way of Europe

SLGE: The funding of state and local pensions: 2011–2015

Reuters: Public pension fixes face stout legal challenges

Chicago Fed:  State tax revenues over the business cycle

Investment News: Expected $20 billion reinvestment gap as maturing bonds outstrip new supply

Bloomberg: Refinancing wave and projected redemptions may exceed the supply of new bonds

Barron’s: New muni disclosure rules set to start in August

Bond Buyer: Chicago Council advances $2.1 billion of Midway, wastewater debt

NYT: An enormous infrastructure project in Chicago that no one has heard of

GovTech: New York City unveils huge bike-sharing system

@Twitter Talk

Gay rights in the US, state by state gu.com/p/37c4m/tw via @guardian

— Brian J. Ostella (@bostella) May 8, 2012

Lots of stress for state tobacco bonds — the fiscal downside of the drop in smoking ow.ly/aJYEH #NYT — Barrett and Greene (@GreeneBarrett) May 7, 2012

Economic Policy Institute- Women and African Americans hit hardest by job losses in state and local governments. epi.org/press/women-af… — Tim Maniccia (@tmaniccia) May 4, 2012

Fixed income mutual fund inflows are running at ~+15% annualized growth ytd, vs equity mutual fund outflows at -2% annualized. Via MS $$ — Kevin Depew (@kevindepew) May 7, 2012

30-year MMD muni yield set record low at 3.15% on 1/31 and 2/02. so 3.13% set new record today. THAT’s what i call a flight to quality folks — Taylor Riggs (@TaylorRiggs_BB) May 7, 2012

Vermont poised to enact first outright ban on hydraulic fracturing. bit.ly/K6zwXE — CSG (@CSGovts) May 7, 2012