Bonds

Amid an onslaught of outsized new issuance, many deals have been oversubscribed as buyers clamor for paper, particularly in the high-yield space and from specialty states. “It’s been a bit of a fight for deals that come to the primary market,” said Jon Mondillo, global head of Fixed Income at abrdn. Despite issuance up 35.2%

Municipals were a touch softer Wednesday, but outperformed U.S. Treasury weakness as investors focused on the primary market with several large new-issues pricing to solid demand. Equities were in the black to close the session. Triple-A yield curves were little changed to weaker by one to four basis points, depending on the curve, while Treasuries

As affordable housing has stepped into the spotlight in the presidential election, including during Tuesday’s vice-presidential debate, Vice President Kamala Harris is touting transit-oriented development as a way to increase housing in urban areas. “Some of the work is going to be through what we do in terms of giving benefits and assistance to state

In her new role as Indianapolis-based managing director at Crews & Associates, Susan Reed aims to bring both creative ideas and a deep well of experience to bear on the challenges facing Indiana issuers. Reed, who has worked as a bond attorney and a municipal advisor and has served in a community and economic development

Transcription: Transcripts are generated using a combination of speech recognition software and human transcribers, and may contain errors. Please check the corresponding audio for the authoritative record. Mike Scarchilli (00:03): Hi everyone and welcome to The Bond Buyer Podcast, your essential resource for insights into everything municipal finance. I’m Mike Scarchilli, Editor-in-Chief of The Bond

Municipals saw some weakness up front while U.S. Treasuries saw losses across the curve after Federal Reserve Chairman Jerome Powell signaled the Fed’s rate-cutting schedule was not yet certain as the U.S. economy remains strong. Equities closed in the black. USTs saw the largest losses on the short-end, with yields rising up to 7 basis

Municipal market advocates have tapped the University of Chicago’s Center for Municipal Finance to create first-of-its-kind municipal bond data that advocates hope to use to showcase the usefulness of tax-exempt bonds next year as the market’s cherished tax exemption faces an existential threat. The center will drill down to the congressional district level to examine

The municipal market muscled through this week by holding yields mostly steady as investors digested a large new-issue slate, heavy on tax-exempt paper, even as U.S. Treasuries were weaker until Friday’s session. Municipal triple-A yield curves closed out the week with few changes, valuations were little changed — though at attractive levels — and the

Minneapolis will bring general obligation bonds to market next week in a deal that includes funding to repair damage left by the 2020 riots after a police officer killed George Floyd. The city will sell $123.59 million of tax-exempt Series 2024 general obligation bonds via competitive sale Tuesday. The municipal advisor on the deal is

While Hurricane Helene could have short- and long-term impacts on government finances and the economy, observers say Florida’s hurricane catastrophe fund has sufficient funds to cover damages without requiring immediate replenishment. Meanwhile, for now, BofA still plans to price $233 million of water and wastewater revenue bonds for Tampa on Tuesday and $210 million of

As the election approaches, tax policy issues are moving to the fore including pass-through entity exemptions used to negate the effects of the cap on state and local tax deductions.  “If the SALT cap expires, then you’re going to see some states where they didn’t have this legislation, have to figure out what to do,

Samuel A. Ramirez & Co. has added public finance bankers in three separate offices as it continues to broaden its national reach. Cordelia Mendez joins as a vice president in the New York City office, Ayanna Louis-Charles joins as a senior vice president in south Florida and Courtney Okezie joins as a vice president in

California hospitals will get no extra time to retrofit hospitals against earthquakes after Gov. Gavin Newsom vetoed a bill that would have given them some breathing room. Senate Bill 1432 was approved by lawmakers with unanimous votes in both houses in August. Newsom announced his veto Sept. 12. Under existing regulations, hospitals will be forced

The Louisiana Bond Commission approved the sale of $620 million in aviation revenue bonds and $220 million in sales tax bonds and modified conditions for up to $1 billion in gas and fuels tax bonds it previously authorized. The commission consented to the sale of up to $575 million in general airport revenue refunding bonds

Georgia’s weakening economy and the long-run impact of recent tax cuts are concerns, credit analysts say, albeit ones the state’s triple-A bond ratings may ride out successfully. The state’s unemployment rate has gone up for four consecutive months, according to the U.S. Bureau of Labor Statistics. The GOP-dominated state government has been cutting the top

Dan Callahan joined UMB Bank’s capital markets division as a senior vice president and public finance banker, the bank announced last week. Based in Austin, Callahan will oversee sales and business development, focusing on “UMB’s continued growth in the Texas municipal market through enhanced offerings in school municipal financing that will deliver sustainable results for

A Missouri government is the latest to offer government support — funded through municipal bonds —to revive a moribund mall.  But developer River City Centre’s plan for West Park Mall in Cape Girardeau, a city of 40,500 along Interstate 55 about midway between St. Louis and Memphis, breaks with the current trend of converting malls

Bond-financed redevelopment underpins Kansas City, Missouri’s plan to tackle decades-old blight and environmental issues that go back further in the Historic Northeast neighborhood. Clay County Commissioner Scott Wagner, previously a Kansas City councilman, told The Bond Buyer that “just the sheer magnitude” of this redevelopment project presented a challenge, but it stands a chance of

The municipal bond market will be showered this week with nearly $2 billion of triple-A-rated debt from water agencies in Southwest states facing drought and other climate issues. The Texas Water Development Board tops the week’s issuance calendar with $1.6 billion of State Water Implementation Revenue Fund for Texas master trust bonds to finance local

Municipals were steady to start the week while the focus moved to the hefty primary slate as several deals priced bonds for retail to good demand. U.S. Treasuries were slightly weaker and equities closed the session in the black. The two-year muni-to-Treasury ratio Monday was at 64%, the three-year at 66%, the five-year at 66%,