Finance

Municipals weakened as supply surged into the market, with AAA yields up by as much two basis points on longer-dated maturities.

The coronavirus pandemic took its toll on Hawaii's credit rating Monday as Fitch cuts the Aloha State's GOs to AA. NYC TFA announces $1.1B sale for next week.

Five new muni professionals join Hilltop Securities’ debt and fixed income capital market teams; all of them came from Wells Fargo.

Chief of Finance and Senior Counsel, Office of the Ohio Treasurer

Finance commissioner Jacques Jiha will succeed Hartzog, Mayor Bill de Blasio announced.

The market will digest the once-again largest amount of new issues in 2020, including some higher-grade state GOs that have been quiet of late. Some participants said a back-up in rates could occur after a mostly quiet week.

Municipals were a bit stronger on the long end Thursday as action heated up in the primary.

Chris Brigati, managing director and head of municipal trading at Advisors Asset Management, talks with Chip Barnett about what investors can expect in the fourth quarter. He looks at interest rates, the economy and the presidential election and what’s in store in a post-pandemic world. (21 minutes)

Municipals finished little changed Wednesday as a hefty slate of new deals came to market.

Memphis, Tenn-based FHN, a division of First Horizon Bank, announced Wednesday the hiring of two municipal bond veterans to its New York City team focusing on infrastructure in Evan Levine and Crystal Mullins.

New York MTA inspector general rails at lax contractor evaluations

Municipals were mostly unchanged with a firm tone on Tuesday, according to market participants, ahead of the week's large new-issue calendar that's heavy on taxables.

Annual debt service could spike to $4 billion by 2024, or up 55% since 2019, making up 24% of the agency's total revenues, Thomas DiNapoli said.

Munis too a breather Friday after a week where yields rose by as much as 10 basis points on long-dated maturities.

The Puerto Rico Aqueduct and Sewer Authority said it might be refinancing its bond debt with a new bond issue by the end of the year.

Disney in late September said it would lay off 28,000 employees at California's Disneyland and Florida's Walt Disney World resorts.

Municipal bond issuers are coming market at a 26.2% faster pace than they were at this point last year.

Municipal bond underwriters are on pace to easily surpass last year's total, despite the COVID-19 pandemic. Top bookrunners have accounted for a total of $328.60 billion through the first three quarters of the year, up from the $267.91 billion in the first nine months of 2019. The top five saw small changes compared to a year ago, while spots six through 10 saw more of a mix.

Eaton Vance operates dozens of municipal bond mutual funds under the Eaton Vance, Parametric and Calvert brands.

Another week of inflows as reported by ICI and the municipal market continues to push on. There is money to put to work, sources say, depending on who is willing.