Markets News from Bond Buyer

The long end of the curve has stabilized at very attractive yields, according to CreditSights' Pat Luby, inviting insurance companies and banks into the negotiated market.

New Jersey's Transportation Trust Fund Authority, once in a "spiral of debt," is now fiscally stable. Its most recent bond deal offered investors attractive yields.

Federal Reserve guidance will likely continue to support the long end, MMD's Kevin McGuigan said, but "investors need to be cautious about extending duration right now, given that a lot of the pressure on the long end has been the result of supply concerns."

Burton brings 35 years of municipal sales experience, most recently at Cantor Fitzgerald.

The front-end cheapening follows Wednesday's bear flattening of the UST curve in response to the Federal Reserve hiking rates and a median 2026 dot that implied another hike before yearend, said Kevin McGuigan, director at Municipal Market Analytics.

Despite the approval, ongoing litigation is attempting to stop the incentives to the plant.

Market participants broadly expected a rate hike, but the FOMC statement and press conference both rang more hawkish than what the markets probably anticipated, said Chris Brigati, managing director and CIO at SWBC.

That will help manage supply that could hit a record for a third consecutive year, investors said.

Market conditions are attractive on the long end, which has weakened, said Kim Olsan, senior fixed income portfolio manager at NewSquare Capital.

The municipal market is completely a buyer's market right now, said Kim Olsan, portfolio manager at NewSquare Capital: "I wish I had more cash to put to work."

There is "a lot of nervousness in the Treasury market right now" ahead of the FOMC meeting, said Tim Iltz, fixed income credit and market analyst at H.J. Sims. That nervousness helped the 10-year UST hit 5% on Monday.

The eight members of The Bond Buyer's 2026 Hall of Fame class helped shape not only major financings and institutions, but some of the laws, analytical approaches, market practices and professional networks that underpin municipal finance today.

Issuance this week is down from last week's $15-plus-billion new-issue calendar, partly due to the FOMC meeting.

Munis got a bit oversold on Thursday, SWBC's Chris Brigati said. Next week's lighter calendar and FOMC meeting should help stabilize the market.

The company has completed construction contract negotiations, which a bondholder said provides cost certainty and allows the company to focus on raising full financing.

The incoming Bond Buyer Hall of Famer combined legal training, investment banking and financial advisory experience to solve complex financings — and used that range to help develop the industry's next generation.

Since the end of June, long-dated muni yields have risen by upward of 50 basis points, pushing yields to the highest levels since the tariff-induced volatility in April 2025.

If CMS finalizes the rule, "many freestanding proton centers across 11 states would be in immediate jeopardy of being financially unsustainable," the National Association of Proton Therapy said.

The city's convention center authority plans to use proceeds from a $775 million bond sale to finance expansion of Music City Center.

Fear of inflation is hitting all markets, MMA Director Kevin McGuigan said, but high supply and low reinvestment cash mean it's hitting munis harder.