Strong rainy-day funds remain a key buffer, but states that rely on volatile revenues or face rising Medicaid, education and infrastructure costs may have less room to absorb the next shock, writes Market Intelligence analyst Jeff Lipton.
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The White House has cut funding to states via curtailed disaster relief, paused infrastructure funding, and changes to the Medicaid program.
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The statement "is a significant policy document providing guidance to MAs as to their roles, responsibilities, and potential liability under the federal securities laws," said Paul Kisslinger, a partner at Barnes & Thornburg.
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Bondholders agreed to extend the lender longstop date, giving developers more time to test the LAX SkyLink project and avoiding an imminent technical default.
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Heavy August issuance created fewer oversubscriptions and more demand for concessions, a signal that issuers, advisors and underwriters need to pay closer attention to structure, timing and clearing levels, according to Market Intelligence analyst Jeff Lipton.
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Market Intelligence analyst Jeff Lipton argues data center expansion will likely create a reallocation of risk and the market should price the contractual framework of a utility and how that insulates bondholders.
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Funded ratios remain useful, but they can mask risky assumptions, illiquid investments and correlated exposures that may force higher government pension contributions during the next downturn, writes Market Intelligence analyst Jeff Lipton.
Muni yields have been slow to reprice Federal Reserve expectations, but on Wednesday, they caught up fast, said James Pruskowski, managing director at Hennion & Walsh.
A cutback in federal funding for state revolving loans to water utilities is among the things pressuring water utilities in Florida.
U.S. Secretary of Transportation Sean Duffy says the loan will allow the long-sought bridge and Bayway project to be built.
Data centers are expected to produce $1.3 billion in tax revenue for Loudoun County this year, but opponents say the exemptions are costing much more than the property taxes they are generating.
Burton brings 35 years of municipal sales experience, most recently at Cantor Fitzgerald.
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Although the proposal ultimately didn't become law, that disconnect created an attractive entry point for investors because prices reflected tax policy fears — not deteriorating municipal credit.
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The AI can work overnight. It can absorb administrative volume. But it cannot sit at the council table.
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Introducing The Bond Buyer's newest Muni Hall of Famers who will be honored at an awards dinner in Boston on Sept. 30, 2025.
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"I have been very fortunate to contribute to a fascinating sector of the financial industry that is full of ambiguous issues and data," said Tom Doe. "I am flattered to be included in the Hall of Fame, it is a wonderful capstone to my career."
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Over nearly 40 years, investment banker Diana Hoadley built a legacy of far-ranging vision and collaboration that left a trail of professional admirers.
Joe's introduction to municipal bonds came long before his career began. His parents, who owned a small business, regularly invested in municipal securities.
"I've always been driven more by people than subject matter," Kirsten says. "The people I met were passionate about what they do and that passion was contagious."
Roosevelt & Cross president and executive director of public finance Elaine Brennan receives the 2025 Freda Johnson Award for the private sector.
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The deal, set to close in the coming weeks, adds a group of capital markets and other market professionals, according to a press release.
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The Metropolitan Transportation Authority chair and CEO says changes are needed to state and federal laws and the MTA's financial structure.
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"The regulatory environment has become increasingly complex and overwhelming for smaller firms," said Sycamore Advisors LLC president Diana Hamilton.
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Federal Reserve guidance will likely continue to support the long end, MMD's Kevin McGuigan said, but "investors need to be cautious about extending duration right now, given that a lot of the pressure on the long end has been the result of supply concerns."
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With the effects of added Medicaid requirement looming next year, some states are already seeing stress cracks in their reserve fund balances and revenue levels.
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- Primary Market ReportWeeklyRecap of articles on new issuance as well as Featured Deals on the week.
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Gilmore & Bell and Nixon Peabody were new entrants in the top 10, bumping Greenberg Traurig and Bracewell to the top 15.
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ON-DEMAND VIDEOJosé Torres, senior economist at Interactive Brokers, breaks down the FOMC decision and Fed Chair Jerome Powell's press conference.
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ON-DEMAND VIDEOSean Snaith, Director of the Institute for Economic Forecasting at the University of Central Florida, will provide insight into the FOMC meeting.
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ON-DEMAND VIDEOMonetary policy remains the key to the markets. The Federal Open Market Committee predicts one rate cut in 2026, but the panel will get a lot of data before
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