Finance

As technology options grow, firms are looking for ways to streamline and scale workflows.

Demand for munis remains "insatiable," said Daryl Clements, a municipal portfolio manager at AllianceBernstein.

Christopher Roberts joins the firm as a managing director, Joey Dierker as an associate director, Soledad Mancias as a municipal underwriter, and Steve Basset as a director.

Tourism Development Tax, sales tax, and Professional Sports Facilities tax and revenue refunding bonds were upgraded, impacting $628 million of debt.

Conference sponsorships targeting bond firms led Mayor John Whitmire to call for a probe into actions by Controller Chris Hollins, who denied any wrongdoing.

"Buyer interest comes as forward supply is projected around $20 billion (the high water mark over the last year) while offsetting calls and maturities sit about $2 billion lower, creating a net supply surplus," said Kim Olsan, a senior fixed income portfolio manager at NewSquare Capital.

After the school board resigned, the rating agency put Chicago Public Schools on notice that it will watch how its tricky financial situation is handled.

The muni market enters the last quarter of 2024 in "excellent shape," said GW&K Investment Management partners John Fox, Brian Moreland, Kara South and Martin Tourigny.

After Minnesota's second-largest healthcare employer was downgraded by rating agencies, the Minnesota Nurses Association took aim at Allina Health's board.

Supply ramps up this week to an estimated $13.361 billion, with several billion-dollar pricings on tap.

Florida will use its own cash, not from a refunding bond, to buy up to $500 million of bonds tendered.

Pension analysts are calling for higher contributions even as financial conditions improve.

As the underwriter landscape changes, so does the competitive market.

Municipal triple-A yield curves played catch up to USTs Friday to close out a week of more mixed economic data that has economists constantly reevaluating their Federal Reserve policy expectations with little consensus.

Municipal bond insurers wrapped $28.921 billion in the first three quarters 2024, a 26.8% increase from the $22.814 billion insured in the first three quarters of 2023, according to LSEG data.

Analysts remain divided about what the stronger-than-expected consumer price index will mean for Federal Reserve policymakers since the Fed appears to be concentrating on the labor market.

Data from the Municipal Securities Rulemaking Board indicates that trade volume may stay high after a consistent third quarter.

With munis establishing "directional footing" in the fourth quarter of this year, the technical backdrop is still the market driver for 2024, said Jeff Lipton, a research analyst and market strategist.

Fitch revised upward its outlook for Marin General Hospital and affirmed its revenue bonds at BBB, and general obligation bonds at AA-minus.

Supply is slightly lower this week at nearly $10 billion but not by much, with the pace of supply suggesting $500 billion of issuance for the year could still happen, said Tripp Kaiser, a managing director at Municipal Market Analytics, Inc.