Finance

Market Intelligence analyst Jeff Lipton explains why proposals targeting wealth, property, and income taxes matter for municipal credit, and outlines what investors should watch in revenue replacement capacity, reserves, political willingness, and legal security structures.

New research from The Bond Buyer finds reductions in federal funding stand to drastically impact healthcare, local/state governments and other sectors.

The complicated environment has created different outcomes for different parts of the muni market, Hennion & Walsh's James Pruskowski said.

The loss of land to the sea in southern Louisiana over the next few decades places more than 1 million people in harm's way, the academics say.

Although muni valuations became "less compelling" in April from March's highs, Pat Haskell wrote for BlackRock, technical conditions "are likely to provide a degree of support in the months ahead."

Among the reasons S&P cited for the upgrades are "very high activity levels and long history of favorable enplanement trends."

Inflation and heavy supply have finally worn on muni yields after a week of stability.

The Bond Buyer will honor a fifth class of inductees into its Hall of Fame of municipal finance, alongside its 11th annual class of Rising Stars, at the close of its Infrastructure event in Chicago on September 15.

New findings from The Bond Buyer show that outside of advisors and broker-dealers, appetites for risk decreased to a greater degree than they increased.

The muni market continued to shrug off volatility in Treasuries, but NewSquare Capital's Kim Olsan said a reaction is building up.

"I don't mind owning a railroad for $2.4 billion," said Assured CEO Dominic Frederico.

Munis should do "relatively well" this month, as investors will "focus on heavy summer redemptions; tax-exempt supply should remain healthy but is unlikely to overwhelm," said Barclays strategists.

"The rates market has started to turn from the upper end of the trading range this week," Barclays strategists wrote, but with the war with Iran still driving the market, nothing is certain.

New research from The Bond Buyer finds the federal policy environment once again threatens the tax-exempt status for municipal bonds.

Munis and U.S. Treasuries have been more reactive to geopolitical news than to economic data that traditionally moves the market, according to MMA's Kevin McGuigan.

The rating agency cited an improving governance profile, which incorporates a trend of budgetary reserve fund maintenance and increasing pension contributions.

The muni new-issue market got a breather after a heavy supply day on Tuesday, according to Franklin Templeton's Jennifer Johnston.

Spirit's ceasing operations after a failed $500 million bailout comes as the airport sector remains resilient despite ongoing geopolitical tensions, with spreads compressing compared to other transportation sectors despite rising fuel costs, Barclays strategists said.

Senior bonds most recently traded for 30 cents on the dollar.

The muni market digested Tuesday's heavy supply in the way analysts expected, H.J. Sims analyst Tim Iltz said.