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As issuance hit $480.03 billion in 2021, the insurance industry wrapped 7.8%, up slightly from 7.1% in 2020. Deals with insurance totaled $37.522 billion, more than the $34.428 billion in 2020, according to Refinitiv data.

2021 comes in just shy of the all-time record in 2020, as the muni industry showed its resilience in the second year of the pandemic.

Municipals have been resilient throughout the pandemic — with the help of federal aid — keeping the Golden Age for public finance alive.

They say a Plan B that does not involve local legislative approval must be negotiated.

At issue is about $400 million the board would like Puerto Rico's government to retain.

The new-issue calendar for the holiday-shortened week is $4.98 billion, with $3.633 billion of negotiated deals and $1.347 billion of competitive loans.

The Federal Reserve formally adopted tough, sweeping restrictions on officials’ investing and trading, aiming to prevent a repeat of the ethics scandal that engulfed the U.S. central bank last year.

The Puerto Rico Fiscal Agency and Financial Advisory Authority has requested pre-qualified investment banks to provide ideas and opportunities for refunding for savings.

Michigan State, supported by a better bond rating outlook, will join the small club of higher education institutions using a 100-year taxable bond structure.

Much of the new infrastructure funding can't flow to states until a full FY22 bill is enacted.