The Latest

All eyes are on Jackson Hole and Fed Chairman Jerome Powell's speech this week, noted Cooper Howard, a fixed-income strategist at Charles Schwab.

Charter school bond issuance have leveled off as issuers consider labels and alternative structures.

The rating agency estimated the cost of college and university capital needs at $750 billion to $950 billion over the next decade.

"Fed watchers will be parsing Powell's comments for signs that a 50bp rate cut is on the table for September," noted Lauren Saidel-Baker, an economist with ITR Economics. "However, the notoriously tight-lipped chair is unlikely to confirm this, making a 25bp cut the most likely outcome."

The National Association of Bond Lawyers will give out two separate awards to Rep. Dutch Ruppersberger and longtime muni lawyer David Cholst, for their contributions to the organization and industry over the last four decades.

Midwest bond sales ticked 1.8% higher by volume in the first half of 2024, to $34.377 billion as the region missed out on the big gains in volume nationwide.

"Investor reception will remain the ultimate arbiter of muni performance and … the current state of the tax-exempt space to be well-positioned, even though munis are likely to continue to underperform USTs," said Jeff Lipton, a research analyst and market strategist.

Federal Reserve Gov. Michelle Bowman said she has concerns about an uptick in inflation and will need to see more positive data before supporting an interest rate cut.

Clyde, Texas, missed payments on certificates of participation due Aug. 1, the same day it declared a water emergency. Bond insurers are paying the holders.

The estimated $100 million raised annually from the 0.5% tax increase on the Nov. 5 ballot could be used to back bonds for affordable housing.