Markets

A California treasurer's conduit approved a $135 million bond-funded grant for Loma Linda University Children's Hospital.

On the buy side, lower interest rates and an extreme imbalance between supply and demand is supporting the municipal market's positive tone, according to JB Golden, executive director and portfolio manager at Advisors Asset Management.

UBS' move this week to cut some banking positions marked a reversal of its five-year growth trend as the bank rebooted its municipal underwriting business.

The top bond counsel firms combined for a total of $359.123 billion in 7,878 transactions during 2022, down from the $456.136 billion in 11,819 deals in 2021.

Inflows continued with the Investment Company Institute reporting investors added $2.083 billion to mutual funds in the week ending Jan. 18, after $1.982 billion of inflows the previous week.

Ceffalio is taking on a newly created position at the Chicago-based firm.

After "carnage" in 2022, a munis should see a "positive environment" this year, according to analysts.

The authority's issues hamper the USVI economy, Gov. Bryan says in his state of the territory speech.

The 2023 "January effect" seems to be "displaying typical behavior given relatively thin issuance this month and demand patterns that have been buoyed by four of six reinvestment needs," said Jeff Lipton, managing director of credit research at Oppenheimer Inc.

The city received $217 million of retail orders — a rarity in Illinois where local bonds don't benefit from state tax exemption — and interest from 11 ESG funds.