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The Trump administration wants to shed federal office space, and bonds backed by those leases are feeling the heat.

It was 2024's biggest national conduit. You may not have heard of it. New Hampshire's National Finance Authority has become a big issuer with a low profile.

The $2.5 billion Brightline West and $849 million Hawaii deals stood out among the rash of issuances last month alongside the ongoing tax exemption debate.

New York City leads the negotiated calendar with $1.4 billion of GOs, followed by the Regents of the University of California with $1.2 billion of general revenue bonds.

Lobbying efforts to keep the muni tax exemption in place is boiling down to convincing select members of the House Ways and Means Committee about the value of munis in financing local infrastructure projects.

Bond trustee UMB Trust has engaged Lighthouse Management Group to serve as the receiver.

February's volume was at $33.725 billion in 622 issues, up 1.6% from $33.191 billion in 614 issues in February 2024, according to LSEG data.

The American Securities Association in a brief filed in the U.S. Court of Appeals for the Eleventh Circuit said an SEC order should be set aside because the MSRB is unconstitutionally structured.

Issuance in the Far West was up 30.8% year-over-year to $98.9 billion. Muni market observers say issuers tried to beat the uncertainties of the election.

One California city has found that corralling a joint powers authority isn't easy.