Markets

The city's municipal expects $44 million of present-value savings in the $244 million deal to refund 2010 BABs.

Following suit with the issuers and underwriters, top muni financial advisors were outpacing business done to this point last year with $224.84 billion, up from $206.93 billion. The first three spots in the rankings remained the same for the big players, as the rest of the field saw a bevy of changes.

Through three quarters municipal bond issuers are coming to market more frequently than they did during the same period of 2018, as low rates and yields are too good to pass up and demand for muni bonds is closing in on an all-time high.

Municipal underwriters saw increased business, as demand for muni bonds jumped through the roof. Top muni underwriters accounted for $267.51 billion in 7,310 deals, up from $239.33 billion in 6,406 transactions in the first nine months of 2018.

Taxable bonds are spiking with the lack of advanced refundings; Green bonds also take the spotlight.

The strength of the state’s credit profile, coupled with a supply-demand imbalance for tax-exempt bonds, has helped the state in the market, a new report says.

The municipal market continues to flex its muscles even as the U.S. economy seems to be slowing, which could lead to an even flatter yield curve.

Raymond James hired Paul Soma as a senior vice president. He will set up a public finance office in Traverse City.

The markets will be soothed by September nonfarm payrolls that rose 136,000 while the unemployment rate sank to 3.5%, its lowest level since December 1969.

Fitch Ratings upgraded the district to BB-plus from BB-minus.