Markets

"Bifurcated demand reflects the persistent bid strength from [separately managed accounts] and retail investors, not to mention more accounts marshaling cash and liquidity up front while the Fed perspective evolves," said MMA's Matt Fabian.

The trio have decades of experience in high yield and investment grade portfolios and will launch new high-yield investment strategies and vehicles for Rockefeller.

"The rating action reflects our view of MIA's substantial demand, which surpasses pre-pandemic activity, and its leadership in enplanement growth for large hub airports since the fiscal 2019 peak," said S&P's Nora Wittstruck.

The company expects construction to take four years, with operations beginning in summer of 2028 ahead of the Los Angeles Olympics.

Fitch Ratings said the negative outlook on the BB-plus rating reflects Miami Jewish's thin operating profile.

The new-issue calendar will be a "good test to see if the higher absolute yields can pull buyers off the sidelines or if underwriters need to widen spreads significantly enough to reprice the entire market to clear the deals," according to Birch Creek strategists.

The state of emergency will let the governor use the central government's rainy-day fund to provide money to WAPA that semi-autonomous agencies of his government owe the authority. WAPA will use the money to make payments to bondholders and other creditors starting Tuesday.

"The upgrade is supported by strengthened debt service coverage ratios due to better than expected recovery from the pandemic," Fitch said.

S&P affirmed the state's AA issuer credit rating, citing healthy reserves and plans to increase permanent fund totals to mitigate revenue fluctuations.

A combination of a "stronger-than-expected economy, higher Treasury rates, robust supply, and rich valuations resulting in choppy markets" have made the trading environment in H124 "quite difficult," according to Barclays.