The New York City Transitional Finance Authority headlined the top 10 issuers in 2022, almost all of which outperformed their par amounts from 2021.
Four new issuers entered the top 10, as the Golden State Tobacco Securitization Corporation; the California Statewide Communities Development Authority, New York City Housing Development Corporation and the Indiana Finance Authority fell out.
Still the top 10 issuers are mostly from just two states, with four from New York and two from California.
"In terms of credit quality, high-yield funds proved resilient" while investment-grade funds saw outflows of $673 million, noted J.P. Morgan's Peter DeGroot in a market note.
Muni exchange-traded funds are "dominated" by retail and are "momentum driven," said David Litvack, a tax-exempt strategist and chief investment officer at BofA.
Texas Capital hired Steve Genyk, a former public finance head at UBS Financial Services, as a managing director to lead its new public finance business.
The bond parties opposed to the plan of adjustment have already argued the Puerto Rico Oversight Board's electricity projections are too pessimistic, Judge Swain said.
The measure "sets the table for a likely big tax bill next Congress," said Charles Samuels of Mintz Levin.
"This bipartisan FAA reauthorization bill is the product of endless hours of negotiation and debate and will transform several aspects of flying in the years to come," said Aviation Subcommittee Ranking Member Rep. Steve Cohen, D-Tenn.
