| Government Securities Prices | 10-year: 93 12/32 to yield 2.51, down 29/32 30-year: 87 12/32 to yield 3.57, down 16/32 |
|---|---|
| Municipal Bond Index | 112 12/32, down 410/32 |
| The Bond Buyer's 30-Day Visible Supply (as of 06/24) | Total: $13.580 billion, down $363.5 million Competitive: $2.713 billion, up $243.2 million Negotiated: $10.867 billion, down $606.7 million |
| The MuniCenter List | Offering total: $10.807 billion, up $849.4 million |
"The rating action reflects our view of MIA's substantial demand, which surpasses pre-pandemic activity, and its leadership in enplanement growth for large hub airports since the fiscal 2019 peak," said S&P's Nora Wittstruck.
A state ban on bond underwriters that "boycott" or "discriminate" against the fossil fuel or firearms industries has resulted in fewer banks providing municipal financial products and services.
The company expects construction to take four years, with operations beginning in summer of 2028 ahead of the Los Angeles Olympics.
Los Angeles Mayor Bass' proposed $12.8 billion spending plan aims to close a $467 million deficit.
Fitch Ratings said the negative outlook on the BB-plus rating reflects Miami Jewish's thin operating profile.
The new-issue calendar will be a "good test to see if the higher absolute yields can pull buyers off the sidelines or if underwriters need to widen spreads significantly enough to reprice the entire market to clear the deals," according to Birch Creek strategists.
