Markets

Summer redemption season has ended, and "without the huge amounts of maturing and called bond principal flowing back to investors, demand in the last months of the year will be more reliant on new money coming into the market than it was in June, July and August," said Pat Luby, head of municipal strategy at CreditSights.

The $180.24 million deal comprises $76.085 million of metropolitan district bonds and $104.155 million of consolidated public improvement bonds.

As extreme weather events occur with more frequency across the country, Michael Gaughan, executive director of the Vermont Bond Bank, says municipal bond banks can help smaller communities deal with the effects of them. Gaughan speaks with The Bond Buyer's Lynne Funk on the effects of climate change and how the various levels of government can work together to address it.

The Dallas-Fort Worth region toll highway owner and operator aims to rake in savings from the deal as it expects to cash fund a $2 billion capital plan.

Investors will see more than $7.8 billion of supply to start off September, following a record issuance month in August. The calendar is led by the North Texas Tollway Authority's $1.126 billion of system revenue refunding bonds while high-grade Massachusetts leads the competitive slate with $850 million of exempt and taxable general obligation bonds.

The bank was one of 225 credits Moody's placed on review for possible upgrade July 25 when it released a revised rating methodology.

The muni market is "well-positioned for strategic opportunities, with strong inflows driven by the current narrative and eased secondary selling pressure," said James Pruskowski, chief investment officer at 16Rock Asset Management.

The sale follows the utility's successful initiation of two nuclear power units in the last 13 months.

The bonds will fund infrastructure in one of 21 community development districts that have built the age-restricted 55-and-up Villages to more than 76,000 homes.

The Investment Company Institute reported more than $1.3 billion of inflows into muni mutual funds. The last time inflows topped $1 billion, per ICI data, was for the week ending Feb. 7. LSEG Lipper has reported weeks with $1 billion plus inflows on July 31 and May 8.