| Government Securities Prices | 10-year: 101 10/32 to yield 1.85, unch 30-year: 100 12/32 to yield 3.11, down 7/32 |
|---|---|
| Municipal Bond Index | 129 1/32, unch |
| The Bond Buyer's 30-Day Visible Supply (as of 04/01) | Total: $7.868 billion, up $557.1 million Competitive: $3.553 billion, up $410.4 million Negotiated: $4.315 billion, up $146.7 million |
| The MuniCenter List | Offering total: $7.840 billion, down $1.930 billion |
The city council took action to keep the property tax rate unchanged, a move that could punch a $53 million hole in the fiscal 2026 budget and drain reserves.
"In theory at least, municipal yields should be able to stabilize here; levels remain attractive for pure income buyers while more sustainable constructive fund inflows are just enough to speak for rising issuance in the absence of meaningful reinvestment," said Matt Fabian, president of Municipal Market Analytics.
The Trump administration's tariff policy is affecting vulnerable pockets of the economy including the construction industry, port operations and states with a reliance on international trade.
"If I wanted to target municipal finance, this would be a really good place for me to start," said Omid Rahmani, public finance cybersecurity lead at Fitch Ratings.
The financing challenges facing both Brightline projects have translated into falling bond prices.
Municipal Market analytics hired Marvis Gutierrez in response to growing demand for the firm's services and plans to keep hiring.
