Markets

The city is looking for "a diverse group of qualified firms with varied strengths and market advantages" to "provide the most cost-effective distribution."

"Yields are attractive, and there's going to be a lot of demand and there's not going to be a lot of bonds," said Scott Diamond, co-head of the municipal fixed income team at Goldman Sachs.

Moody's Investors Service cited thinning operating performance for the downward outlook revision.

A private school catering to Los Angeles' wealthiest residents is tapping the municipal bond market to expand its campus and add to its academic offerings. 

"The market seems to be coalescing around the view that these historically rich ratios can be sustained through February, but that the market technical becomes far less favorable in March and April," said Birch Creek Capital strategists in a report.

The deal comes following several toll increases — which have bolstered the authority's credit — that have also compelled a state senator to introduce a bill that would dissolve the authority.

The legislation comes as the U.S. and Florida saw a record number of rocket launches last year.

Interest rates and federal elections hang heavy over the industry and municipal analysts believe certain muni sectors or subsectors will experience credit deterioration.

BofA expects muni yields to continue to move up and credit spreads to narrow "in a slow and gentle fashion" in February.

The inflows into muni mutual funds mark a reversal from 2022 and 2023.