| Government Securities Prices | 10-year: 100 29/32 to yield 1.90, up 6/32 30-year: 104 15/32 to yield 2.90, up 8/32 |
|---|---|
| Municipal Bond Index | 119 25/32, up 7/32 |
| The Bond Buyer's 30-Day Visible Supply (as of 12/30) | Total: $4.253 billion, down $16.3 million Competitive: $1.221 billion, down $200.7 million Negotiated: $3.031 billion, up $184.4 million |
| The MuniCenter List | Offering total: $6.026 billion, down $883.5 million |
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.
