Markets

The university will decide on a final structure for a $500 million sale that could go as long as 100 years at the time of pricing, which is expected next week.

Oregon Treasurer Tobias Read called off a lottery bond sale planned in 2020 after lottery revenues cratered because of pandemic-related business closures.

Investors pulled more from municipal bond mutual funds as the Investment Company Institute reported $4.5 billion of outflows in the week ending March 30.

SSM returns to the market with $323 million, highlighting its stronger balance sheet, ESG efforts, and medical partnerships that reflect a sector trend.

The Economic Development Bank estimated the first half of fiscal 2022 had experienced a 5.5% increase in growth, upward from a 3.6% increase in previous estimates.

Hawkish Fed comments caused UST yields to rise by as much as 17 basis points, just as munis had caught a bid. The new-issue market fared well in digesting large deals amid the volatility.

Municipals have taken a hit in the first months of 2022, but higher yield levels and cheaper ratios have offered possibilities for both retail and institutional buyers, analysts say.

Montebello Unified priced a $12.2 million tax-exempt refunding, but didn't execute a planned taxable tranche.

The $600 million deal is the authority's first 100% green transaction and it is also the first ever with bonds backed solely by revenue earned from specific transmission projects instead of the authority's general credit.

Firms remain uncertain about how state laws that apply litmus tests for banks and others seeking contracts with governmental entities impact them.