Community Standouts
New Issuance
MSC World America cruise ship docked in San Juan, Puerto Rico

The city brings $122.2 million of GO bonds to market next week, believing its investment-grade ratings outweigh the defaults of the Puerto Rico government.

MSC World America cruise ship docked in San Juan, Puerto Rico

The city brings $122.2 million of GO bonds to market next week, believing its investment-grade ratings outweigh the defaults of the Puerto Rico government.

Anatomy of a Deal
Market Intelligence

The first tobacco bond payment default raises the prospect of additional isolated failures, but not a systemic sector collapse, according to Market Intelligence analyst Jeff Lipton, highlighting how vintage, lien, turbo and reserve features can produce sharply different cash flow and liquidity outcomes.

Market Intelligence

Market Intelligence analyst Jeff Lipton breaks down how security selection, sector allocation, curve positioning and carry can generate excess returns in high-yield munis, while warning that weak cash flow, a lack of economic viability, limited liquidity and thin disclosure can quickly undermine value.

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