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The Michigan Finance Authority closed on $79.5 million of distributable state aid fifth lien and LTGO financial recovery refunding bonds issued for Detroit.

The infrastructure grants are bolstered by bond financing.

Municipal advisor Hamlin Capital Advisors and Michael Ferrell Braun have been charged by the SEC for failing to disclose material conflicts of interest to its charter school clients.

The Metropolitan College of New York wants to sell real estate in lower Manhattan as part of a deal with bondholders allowing the school to skip a debt payment

The 10 largest issuers of education issuance in the first half of 2024 accounted for $15.219 billion.

The deal was the latest billion-dollar-plus transaction for one of the P3 airport terminal projects at John F. Kennedy International Airport.

Education issuance in the first half of 2024 rose 27% year-over-year, increasing to $64.516 billion across 1,646 issues from $50.796 billion in 1,559 transactions from 1H 2023.

The correction to the municipal market has improved muni to UST ratios while uncertainty hangs over ahead of the election. J.P. Morgan's Peter DeGroot said the firm expects the end of next week "will mark the end of the difficult technical period in 2024 and believe that net supply in November will lead to better valuations broadly in the municipal market."

"We have made good progress, but inflation is still running above the FOMC's 2% objective," said Federal Reserve Bank of Cleveland President Beth Hammack.

Several macro trends have converged to drive growth in municipal bond issuance, said participants at The Bond Buyer's California Public Finance conference.