Texas

Texas bond volume climbed 22.5% to lead the nation in a year when issuance in the eight-state Southwest region increased by only 0.6%.

Austin Transit Partnership, which was created by the city and its mass transit agency to develop and finance Project Connect, approved an initial bond sale of up to $150 million.

Meanwhile in New York, the state doubles down on climate investments and restricts investments in some big oil and gas companies as the city blasts several big banks as they pull out from the Climate Action 100+ initiative.

Children's Health and UT Southwestern Medical Center are teaming up to finance and build a pediatric health campus that includes a hospital.

The Texas city's project joins other efforts in Southwest states to find new water sources as supplies dwindle due to persistent drought conditions.

Issuance for the month is slightly above the $27.666 billion 10-year average, according to LSEG Refinitiv data.

The push for bills to punish companies, including municipal bond underwriters, for their fossil fuel or firearm policies continues in Arizona and Oklahoma.

The top five bond financings have an average dollar volume of more than $917 million.

Red state-blue state battles have complicated ESG issuance even as the muni market strives to make it an accepted asset class. The Bond Buyer's Lynne Funk, Karen Pierog, Chip Barnett and Keeley Webster discuss how it's playing out nationally and regionally.

Office sectors in some Southwest cities, including Houston, are stressed due to elevated vacancy rates that may lower assessed values and property tax revenue.