Taylor Riggs

As it seeks to continually boost its muni finance operations, Piper Jaffray & Co. has opened new offices in Tennessee and Indiana and increased its head count.

After heavy criticism from investors, analysts and bond insurers over Standard & Poor's new bond insurance rating criteria, the agency is firing back in self-defense.

With Labor Day behind it, the municipal market will see a big surge in new deals this week, with estimated issuance rising to $4.65 billion, close to the weekly average this year.

Bond insurer Assured Guaranty Ltd. has a bone to pick with Standard & Poor's over the rating agency's new bond insurance rating criteria.

Despite a Labor Day holiday-shortened week, the municipal market could see new issuance almost double from last week.

Some analysts and investors — not to mention the bond insurers themselves — are reacting negatively to new bond insurance rating criteria issued by Standard & Poor's last week.

As rating agencies seek to provide more transparency and regain accountability on how they rate credits, Standard & Poor's has issued a report stating how it will suspend ratings for U.S. public finance issuers.

The municipal market can expect to see $1.2 billion in new issuance this week, down dramatically from last week's revised $4.42 billion as the market takes a rest before Labor Day.

Standard & Poor's has issued new bond insurance rating criteria, a much-anticipated move that could define whether muni bond insurers will ever regain their triple-A ratings.

Standard & Poor's has issued new bond insurance rating criteria, a much-anticipated move that could define whether muni bond insurers will ever regain their triple-A ratings.

Military Housing Privatization Initiative bond financings could be negatively affected by budget cuts expected to hit the Department of Defense, according to Moody's Investors Service.

Health care veteran Jim Mitchell has rejoined Fitch Ratings as part of the business and relationship management team.

Tobacco bonds have been on the defensive for several years now as the number of smokers dwindles. But for some yield-addicted investors, tobacco bonds are now seen as a buying opportunity despite their risks.

Alan Spen is rejoining Fitch Ratings as a senior director in its U.S. public power group after a three-year hiatus, coming back to a group he helped create years ago.

Even amid record-low muni yields, new issuance is expected to take a hit this week, with $3.65 billion of new money coming to market, down from last week’s revised $4.72 billion.

Bond insurer CIFG Assurance NA sued Goldman, Sachs & Co. and M&T Bank Tuesday for fraud and breach of contract involving its commitment to guarantee $275 million of mortgage-backed securities.

The municipal market can expect to see a surge of municipal issuance this week, with $5.28 billion coming to market, up from last week’s revised $2.55 billion.

The municipal bond insurance world will not be directly affected by the U.S. Treasury downgrade, according to municipal analysts. However, the likelihood of the bond insurers regaining their AAA status when the U.S. does not hold that title anymore is very slim.

The trend of underwriters partnering with brokerage firms to gain wide access to distribution networks continues with the latest match between Piper Jaffray and Pershing LLC.

Even with municipal bond yields across the curve dropping to 2011 lows last week, borrowers are still not jumping at the opportunity to come to market.