Markets

Overall, most issuance comes from new money, driven by the inability to delay much-needed infrastructure upgrades. And with these higher rates, refundings don't make as much sense mathematically.

Investors interested in the additional yield offered in prepay energy deals should be aware of their corporate exposure as well as the sector's broader risk to the muni market, participants said.

USTs have been boosted by the U.S. government's announcement of sanctions against Iran. Munis seem to be taking the news well, NewSquare Capital's Kim Olsan said, but the asset class has its own news to focus on.

SFPUC's head would like rating agencies to consider what issuers are doing well regarding climate risk as well as where they fall short.

Funded ratios remain useful, but they can mask risky assumptions, illiquid investments and correlated exposures that may force higher government pension contributions during the next downturn, writes Market Intelligence analyst Jeff Lipton.

The island's budget director said the government should turn to money connected with a Jeffrey Epstein settlement to have enough money to finish the remaining six weeks of the fiscal year.

Massachusetts voters may cap its revenue in November. The commonwealth's strong financial position is likely to insulate bondholders from any resulting turmoil.

The city remains triple-A across the board despite's S&P's negative outlook as it prepares to sell $269 million of general obligation bonds.

August may have one of the highest tax-exempt volume totals on record, according to J.P. Morgan analysts — don't expect it to let up.

Brightline West bondholders agreed to give Brightline more time to secure a $400 million equity contribution that was originally due on March 31.