A new state law in Arizona is designed to spur the use of land-secured municipal bond financing to increase housing development and lower its costs.
The end of September, which is also the end of the fiscal quarter, is a historically volatile time, according to James Pruskowski, managing director at Hennion & Walsh. That volatility, driven by shoring up unsettled positions and balance sheets, is exacerbating yields' upward climb in both munis and Treasuries.
Illinois lawmakers are hammering out legislation to raise cybersecurity protections for local water utilities, a timely effort after cyberattacks this summer.
In the new role, one of Doryan Carlton's responsibilities will be overseeing the state's bond issuances. She replaces Bill Poole.
Self-employed borrowers account for 40.9% of the pool, but they are high earners and the pool has moderate leverage.
Debt service is protected but limiting revenue can pressure an issuer's operating budget, Nuveen said.
