| Government Securities Prices | 10-year: 101 6/32 to yield 3.48, unch 30-year: 101 13/32 to yield 4.41, down 1/32 |
|---|---|
| Municipal Bond Index | 109 31/32, unch |
| The Bond Buyer's 30-Day Visible Supply (as of 11/12) | Total: $9.442 billion, up $216.1 million Competitive: $2.135 billion, up $167.7 million Negotiated: $7.306 billion, up $48.4 million |
| The MuniCenter List | n/a |
The law firm revealed 2024 promotions.
As the nation's fourth largest city faces a growing structural budget deficit, it is also expecting to issue more than $3 billion of debt for its airport, water and sewer system, convention center, as well as to fund a settlement with firefighters and for cash-flow purposes.
The extension of the current solar net metering system could lower revenue for the utility.
The finance team is "marketing slices of risk" to raise money to refinance its debt, investors said.
John Fleming is pushing back against a proposal in the state Legislature to change the way the state Bond Commission oversees the issuance of debt by cities, counties and local governments and entities.
Despite higher yields, muni to UST ratios remain rich. Ratios look "progressively richer" moving into the five- to 10-year part on the curve, with the 10-year spot "still far more attractive in taxables versus tax-exempts," J.P. Morgan said.
