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The city council of Kansas City, Missouri, approved an agreement on a bond-funded baseball stadium for the Royals; potential legal and political pitfalls await.
Despite the mounting uncertainty facing muni and UST markets, muni yields are "generationally attractive," according to Tom Kozlik of HilltopSecurities.
Rating agencies say they don't expect federal plans for the drought-plagued river to spark near-term credit concerns, but they may develop over the longer term.
Overall, most issuance comes from new money, driven by the inability to delay much-needed infrastructure upgrades. And with these higher rates, refundings don't make as much sense mathematically.
Investors interested in the additional yield offered in prepay energy deals should be aware of their corporate exposure as well as the sector's broader risk to the muni market, participants said.