Markets

MacKay Municipal Managers has released its list of the top five trends to watch for in the municipal market this year.

The region's non-manufacturing sector “continued to expand.”

Tax-exempt private activity bonds, which came close to being terminated in tax reform legislation, are now a centerpiece of the Trump administration's leaked infrastructure plan -- and market participants hope to use this as a springboard for a return of tax-exempt advance refundings.

Gov. John Bel Edwards released a spending plan for 2019 targeting health care and higher education to bridge much of the deficit.

The university expects healthy reception for its higher education bonds in a supply-constrained market.

A pre-marketing wire on the Sales Tax Securitization Corp.'s $366.2 million of tax-exempts indicates the Chicago deal may see wider spreads than in its bond sale last month.

President Trump's purported latest infrastructure plan would remove state volume caps, advance refunding prohibitions and state volume caps from private activity bonds used for infrastructure.

Although tax reform concerns pushed issuers into the market in December, CUSIP requests for the year, were lowest since 2014.

State officials cited the need to package its $800 special tax obligation bond sale separately from their general obligation credit.

Municipal bond traders return to work with yields and the revamped Chicago deal in their sights.