Finance

Fitch Ratings warns that mounting challenges posed by ratepayers of Missouri's Howard Bend Levee District put its 2005 bonds at greater default risk.

Credit Suisse Group AG agreed to pay $600 million to settle a lawsuit over mortgage securities that collapsed in the 2008 financial crisis, an accord that locks in an expected hit to its profit.

The firm's leaders say Hilltop Securities sees growth opportunity in municipal bond underwriting, while financial advisory services will "grow selectively."

Uncertainties include state and federal aid levels, the effects of vaccine distribution and the MTA's finances.

Refinitiv Lipper reported $2.64 billion of inflows into municipal bond mutual funds. The overwhelming demand for the large deals priced this week demonstrates the flood of available cash that continues to support a strong market.

The California School Finance Authority has received 148 applications from districts and charter schools seeking to borrow almost $1.4 billion.

While most observers expect inflation to grow as the economy heals, the latest CPI numbers suggest that it hasn't yet arrived.

Even if there was some hesitation in the past few sessions to accept lower municipal yields given rich valuations, municipals continue grinding lower. One- and two-year AAA yields hit record lows of 0.06% and 0.08%, respectively.

Why has inflation remained low and how will the economic recovery impact it? Several experts offer their views as to whether inflation is or will be a problem.

The January employment report headline number disappointed while stimulus news lifted equities and U.S. Treasuries rose on both counts. Municipals ignored those moves ahead of another week of less-than-ample supply.

No rate hikes in sight as employment continues to struggle and inflation should rise this year, but not enough to force the Fed to raise rates.

Lumesis' president, COO and co-founder Tim Stevens talks about how AI complements the company’s pricing and scales software to predict the shape of a deal-specific municipal yield curve based on the structural and credit-characteristics and to use that predicted shape to fill-in portions of a yield curve that cannot be built from traditional means. Lynne Funk hosts. (35 minutes).

ICI reports a third week of $3-plus billion of inflows. Couponing is becoming as much a factor in inquiry as credit and issuers move to lower coupons in both competitive and negotiated deals.

Dealers say increased focus on systemic pennying has decreased its activity, while others aren't so sure.

The philanthropic arm of Siebert Williams Shank & Co. announced donations to support Howard University and Spelman College.

Rich ratios focus buyers' eyes on a primary market that simply doesn't have enough supply to keep up with demand.

A Pioneer Institute report cited “a persistent trend” of high-income earners leaving high-tax states for low-tax ones.

High-yield continues to be sought after as high-grade paper is yielding about 0.70% in 10 years and 1.40% or lower in 30 years and credit spreads continue to tighten in nearly every sector. Ratios are near 20-year record lows.

The fintech world is expanding at a sometimes breathtaking pace. Much of that growth is driven by venture capital, but how do VCs decide which companies to invest it in--or not? Join Greycroft partner Will Szczerbiak in a discussion with Olugbenga Agboola, the founder and CEO of Flutterwave, the San Francisco-based startup building the largest payments infrastructure in Africa. Guest host James Ledbetter, editor and publisher of the fintech newsletter FIN, will explore these questions: What are VCs looking for in a fintech startup? What are the hottest fintech sectors in 2021? How has the rise in fintech valuations affected the market? Where will growth be strongest in the next few years?

It is most certainly an issuers' market as rates are low, credit spreads continue to tighten, money pours into municipal bond mutual funds at record levels and a net negative supply of more than $11 billion.