With the effects of added Medicaid requirement looming next year, some states are already seeing stress cracks in their reserve fund balances and revenue levels.
Burton brings 35 years of municipal sales experience, most recently at Cantor Fitzgerald.
Healthcare providers will receive nearly $12 billion in funding in fiscal 2027 with federal approval of the state's Medicaid directed payment programs.
Since 2021, 223 mutual fund-to-ETF conversions have been completed, including 24 involving munis, according to Morningstar data.
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.
