Laws banning banks from underwriting municipal bond deals because of their fossil fuel or firearm policies dramatically boosted underwriting spreads, a business group's study said.
The traditional tax exemption "does take some of the volatility out," said Mark Ritacco, chief government affairs officer for the National Association of Counties.
Analysts ponder what the Fed will do this year with a March cut ruled out amid recent reports of higher-than-expected inflation.
The New York MTA has not sold fixed-rate transportation revenue bonds since February 2021. The first maturity of that deal (4% 11/15/44) priced at +81 and was evaluated at +78 as of Wednesday by BVAL, according to CreditSights strategists. The same maturity but with a 5% coupon was priced at +59 to BVAL.
California State Senate suggests deficit-shrinking cuts ahead of formal budget.
Marc Livolsi was promoted to lead U.S. Public Finance New Issue Marketing and Business Development, and Evan Boulukos will lead Assured's Secondary Markets desk, both of whom will report to Chris Chafizadeh, senior managing director and co-head of Public Finance.