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"Investment banking has a variety of personalities working in it, depending on where you are," Rice said. "The M&A business, the trading business, private equity — all of those things fall into investment banking — but public finance is the one area where you're doing things that help provide for the public good." 

Stagnant per-pupil state funding amid rising costs led to budget deficits, lower reserves, and ballot proposals to raise property tax rates for some districts.

The group, which has grown to more than 100 individuals since its inception in 2019, will host an event featuring Connecticut Treasurer, Erick Russell.

"Despite the underperformance of tax-exempt yields last week, we could see some more pressure on both spreads and ratios due to the heavy supply calendar," said Vikram Rai, head of municipal markets strategy at Wells Fargo.

Current Members Andrew Biggs and John Nixon will be reappointed for another three years.

Environmental regulations under fire in California.

Piper Sandler has hired Joe Kinder and Brent Blevins as managing directors on its public finance team. Both will focus on Missouri school districts and issuers.

The high-grade issue is expected to be well received by the market. D.C. joins a growing list of issuers refunding outstanding BABs amid lower rates.

"People could trust him and know they were in good hands," said Greg Carey, a co-worker and friend.

Massachusetts drew multiple bidders for all four tranches when it sold $850 million of general obligation bonds competitively last week.