The Latest

Bond issuers are establishing common reserve funds to spur economic growth while also generating income, but risk is involved.

The Trump administration may cut the Affordable Care Act and Medicaid, which threatens to land on a hospital sector still recovering from the COVID-19 pandemic.

Indianapolis-based Sycamore Advisors is building its quantitative muscle with two new experienced municipal finance hires in New York: Peter Orr and Ching Yin.

"Munis are grappling with a storm of uncertainty," said James Pruskowski, chief investment officer at 16Rock Asset Management.

Moody's cited heavy reliance on reserves, potential for continued operating deficts, and a fall 2024 decline in enrollment as factors in the downgrade.

A bipartisan agreement on a continuing resolution to keep the government open fell apart after intervention from President-elect Trump and Elon Musk, raising concerns about federal funds flowing to states, local governments, and infrastructure projects.

The central Texas city of Clyde said it issued tax and revenue anticipation notes with a 9.5% interest rate to repay its insurers after an Aug. 1 bond default.

It's hard enough convincing local governments to spend money on cyber insurance that covers ransomware attacks, said Omid Rahmani, public finance cybersecurity lead at Fitch Ratings. The new and very specific threat of a hacked financing process, is "absolutely" underappreciated by the public finance industry.

The challenge to the 2022 approval of bonds for a PACE program could "catastrophically undermine" the finality of all Florida bond validations, the agency said.

As the market prepares for 2025, there's a lot of uncertainty around what the new administration will mean for the macroeconomic environment and interest rates, the latter of which may be impacted by policy around the deficit, said Steve Shutz, portfolio manager and director of tax-exempt fixed income at Brown Advisory.