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Richard Williamson

Recent Stories From this Author

Oklahoma Budget Deal Averts 'Worst-Case Scenario'
May 24, 2016 Oklahoma Gov. Mary Fallin announced an agreement with legislative leaders that narrows the state’s $1.3 billion budget gap...

San Antonio ISD Saves More Than 18% in Refunding
May 24, 2016 In its first deal with Frost Bank as its financial advisor, San Antonio Independent School District achieved savings of more...

$50M Arkansas Highway Plan Approved
May 23, 2016 Arkansas lawmakers ended a special session Monday with approval of a bill to raise $50 million for highways, allowing the...

Mission, Texas, Hospital Takes Five-Notch Downgrade
May 23, 2016 Mission Regional Medical Center, in the Lower Rio Grande Valley of Texas, suffered a five-notch downgrade to B-minus from...

University of Texas Sale Includes Tuition Revenue Bonds
May 23, 2016 The University of Texas System will issue $215 million of triple-A-rated debt that includes some of the $922 million in...

Kansas Cuts $100M in Spending
May 19, 2016 With revenues continuing to fall below forecast, Kansas Gov. Sam Brownback reduced spending by $100 million, with cuts to...

Texas School Funding Ruling Won't Hurt Credits: Moody's
May 17, 2016 The Texas Supreme Court’s decision to uphold Texas’ “Byzantine” school funding formula will end three years of litigation but...

Downgrade Follows Thumbs-Up on Texas School Bonds
May 17, 2016 Days after winning voter approval of $155 million of bonds to keep pace with growth, the Anna Independent School District on...

Downgrades Herald New Mexico's $333M Deal
May 16, 2016 New Mexico is competitively selling $333 million of severance tax bonds after two downgrades attributed to declining oil and...

Texas Supreme Court Upholds School Funding System
May 13, 2016 The Texas Supreme Court upheld the constitutionality of the state’s school finance system, ending four years of litigation...

Virtue of Necessity: County Saves on Regulation-Driven Taxable Refunding
May 13, 2016 Facing new federal constraints on tax-exempt debt for projects with a private revenue stream, El Paso County, Texas, refunded...

Moody's Downgrades Fort Worth Ahead of $165M Deal
May 11, 2016 Citing growing pension liabilities and other fixed costs, Moody's Investors Service downgraded Fort Worth, Texas, in advance...

Houston Toll Lane PABs Rated BBB-Minus by Fitch
May 10, 2016 Private Activity Bonds for a managed lanes project along one of the Houston area’s most congested corridors carry the lowest...

Catholic Health Gets Moody's Downgrade
May 10, 2016 Catholic Health Initiatives, the nation’s second-largest nonprofit healthcare system, was downgraded by Moody’s Investors...

Texas Brings Triple-A Credit to Market with Refunding
May 9, 2016 Despite a prolonged slump in energy markets, Texas retains gilt-edged ratings that are expected to draw investors to $188.7...

$369M Central Texas Toll Refunding Timed for Savings
May 9, 2016 The Central Texas Regional Mobility Authority sees an opportunity for healthy savings through refunding bonds issued just five...

Outlook Boosts Ahead of Austin's Water Deal
May 9, 2016 Austin, Texas is heading to market with $251.9 million of water utility refunding bonds with outlooks restored to stable from...

Large Local Bond Proposals Pass in Texas
May 9, 2016 With $4.8 billion of bond proposals on local ballots, voters across Texas generally favored issuing debt for rapidly growing...

Denver Water to Sell $170M in Competitive Deal
May 6, 2016 The top-rated Denver Board of Water Commissioners will price $100 million of revenue bonds for new projects and $70 million of...

Oklahoma Oil, Gas Tax Revenues Hit 17-Year Low
May 6, 2016 Oklahoma’s monthly collection of tax revenue from the oil and gas industry hit the lowest level since 1999, state Treasurer...


Daniel Berger, Senior Market Strategist at Municipal Market Data, talks about the recent rally in municipal bonds which has brought long-term yields down to record lows. He talks about continuing demand from retail investors in light of the upcoming Summer redemption season and he discusses the allure that the American tax-exempt market has for overseas buyers. He outlines the recent spread compression in quality credits and also looks at some of the market's outliers -- Puerto Rico and Chicago.

Our legislation would preserve money market funds as a source of liquidity and capital for public the infrastructure needs of our citizens.

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