| Government Securities Prices | 10-year: 101 28/32 to yield 2.90, up 5/32 30-year: 103 4/32 to yield 4.19, up 9/32 |
|---|---|
| Municipal Bond Index | 112 18/32, up 15/32 |
| The Bond Buyer's 30-Day Visible Supply (as of 07/13) | Total: $8.852 billion, down $1.182 billion Competitive: $3.232 billion, up $164.5 million Negotiated: $5.621 billion, down $1.347 billion |
| The MuniCenter List | Offering total: $10.334 billion, up $3.224 billion |
The extension of the current solar net metering system could lower revenue for the utility.
The finance team is "marketing slices of risk" to raise money to refinance its debt, investors said.
Treasurer John Fleming is pushing back against a proposal in the state Legislature that would make changes to the way the state Bond Commission oversees the issuance of debt by cities, counties and local governments and entities.
Despite higher yields, muni to UST ratios remain rich. Ratios look "progressively richer" moving into the five- to 10-year part on the curve, with the 10-year spot "still far more attractive in taxables versus tax-exempts," J.P. Morgan said.
The growing federal debt level may pressure lawmakers to retract or reduce the tax-exemption for munis to generate revenue, some market participants argue.
It's a time of change, challenge and opportunity in the infrastructure and P3 space, Patrick Harder said.
