With more than 25 years in executive leadership in Texas public education, Rees will develop bond underwriting opportunities in the state, a Stephens statement said.
The rising cost of living, demographics, and growing utility demands are reshaping the credit profiles of municipal issuers and public utilities for the worse.
Transit systems have to adjust to a new ridership reality, but some have reoriented service and prevented operating challenges from becoming credit problems.
Participants in a power panel at The Bond Buyer's Infrastructure conference discussed current trends and the way forward for public power.
The front-end cheapening follows Wednesday's bear flattening of the UST curve in response to the Federal Reserve hiking rates and a median 2026 dot that implied another hike before yearend, said Kevin McGuigan, director at Municipal Market Analytics.
The guidance comes after Dave Sanchez, director of the Office of Municipal Securities, earlier this year signaled a focus by the SEC on whether MAs are fulfilling their duties to clients.
