The municipal bond market experienced its seventh straight year of positive performance in 2020, but will the progress toward recovery continue in the second half of the year? For insight, Michael Scarchilli, editor-in-chief of The Bond Buyer, sat down with PNC EVP and public finance head Rob Daily, Hilltop Securities vice chairman and head of public finance David Medanich, and City of Dallas Chief Financial Officer Elizabeth Reich for their viewpoints on the macroeconomic picture and prospects for the U.S. munis market. The panel also discusses how the first two quarters of the year have fared with additional government stimulus programs and the rollout of the COVID vaccine.
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As the "slope of the municipal yield curve remains extremely steep and long bonds are cheap relative to U.S. Treasuries," Daryl Clements, a portfolio manager at AllianceBernstein, predicts "long municipal bonds have a long way to go until they are considered fair value."
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A group of bondholders are floating fresh financing to a bankrupt metals recycler that elevates their bonds above other holders.
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Minnesota plans to go to market Sept. 23 with a $1.27 billion general obligation bond sale.
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Andrew Nakahata will replace Scott Wu as executive director and CEO less than a year after joining the organization.
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Bond attorneys are eyeballing the possibility of attaching a tax title to the surface transportation reauthorization that could include issues of great interest to the municipal bond community as the appropriations process remains stuck in first gear.
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The White House said it will appeal a circuit court ruling allowing Federal Reserve Gov. Lisa Cook to remain on the central bank board while her lawsuit challenging her dismissal is litigated.
9h ago