Markets

The Leading Economic Index fell 0.3% in December to 111.2, while the coincident index rose 0.1% and the lagging index dipped 0.1%, the Conference Board reported Thursday.

The state sold tax-exempt refunding debt at 2019 rates but won't deliver them until 2021 when the call date of the original bonds is reached.

The Palmyra-Eagle district can't dissolve, and must find a way to close a looming budget gap as its reserves and enrollment dwindle.

Large taxable deals fare well while gilt-edged Delaware yields track in line with AAA benchmarks in competitive deal.

The high-demand market environment boosted Philadelphia’s first general obligation bond deal of 2020.

Whether new dedicated revenue for the MTA or its higher total debt holds more sway in the capital markets remains an open question.

After returning north of 7% in 2019, the municipal bond asset class continues to see strong returns so far in 2020.

The top municipal bond counsel saw $265.58 billion of business in the first three quarters of 2019, up from $237.49 billion a year earlier. Orrick Herrington & Sutcliffe LLP once again found itself on top with Hawkins Delafield and Wood gaining some ground.

The two active municipal bond insurers insured $5 billion more in 2019 than they did in 2018 thanks to a surge of issuance in the fourth quarter. Assured Guaranty and Build America Mutual combined for $23.92 billion of insured volume spanning 1,724 transactions and 5.67% penetration rate in 2019. That is up from $18.92 billion in 1,249 deals and 5.58% insured rate in 2018.

While the general feeling is the Federal Reserve will keep rates steady this year, not everyone is on board with that view.