Markets

The incoming Bond Buyer Hall of Famer built public finance businesses at U.S. Bank and Academy Securities by combining experienced teams, issuer trust and a clear reason for clients to choose a new franchise.

This week's new-issue calendar is sizable, NewSquare Capital's Kim Olsan said, given fairly light September redemptions. Around a third of the $15 billion calendar is tied up in deals from New York City and Alabama.

The incoming Bond Buyer Hall of Famer helped build Citi into a dominant municipal underwriting franchise by making complex finance understandable, actionable and useful to issuers.

The system's board of regents authorized the issuance of triple-A-rated Permanent University Fund and revenue financing system bonds during fiscal 2027.

For a change, Alabama's big supply is not a prepay deal but financing for a bridge in Mobile, CreditSights strategists said.

A stronger-than-expected nonfarm payroll report reignited fears that the Federal Reserve will hike rates. Munis and USTs had a somewhat muted reaction, according to Hennion & Walsh's James Pruskowski.

"The reason the number [of trade counts] is a record and not just elevated is structural, and it's been building for years," said Josh Rosenblum, head of municipal trading strategies at Brownstone.

The high-yield muni fund's collapse in 2025 showed the dangers of investing in a market where liquidity is famously limited.

The incoming Bond Buyer Hall of Famer helped drive stronger disclosure, pioneer electronic credit research and broaden the information analysts use to assess risk.

KBRA approves of New Jersey's pension progress and budget management.