Markets

For the third time in four years, long-term municipal bond volume has surpassed the $400 billion mark — this time thanks to a second half surge in taxable issuance that took the market by storm.

November's progressive income tax referendum looms large over Gov. J.B. Pritzker's proposed fiscal 2021 budget and the state's long-term fiscal prospects.

Bond yields keep grinding lower ahead of the largest issuance week of 2020, clocking in at $13 billion.

The $5.2 billion Buckeye Tobacco Settlement Authority deal will restructure the debt service schedule, returning the Ohio credit to investment-grade.

Companies across the nation reported a decline in business activity in February.

The market got technically stronger and the new-issue calendar builds.

Economists say regional surveys show rebound for now, but forecast remains mixed.

Luis Maizel is co-founder of LM Capital, an employee-owned minority business in California. Maizel, one of the nation’s few Mexican-born fund and income managers, says he doesn’t see a recession coming. He also looks at U.S. GDP, inflation, interest rates and credit spreads amid the uncertainty of the U.S. election and the coronavirus expansion. Chip Barnett hosts.

Gov. J.B. Pritzker unveiled a $42 billion general fund budget for fiscal 2020.

New deals started to flow in and take advantage of historic lows of muni yields and rates.