Organization Root Tag

Cleveland-based public finance banker Tim Reidy joined Raymond James as a managing director.

Even without formal rules tailored to the municipal market, ESG integration will likely come to the muni market faster than expected.

UBS Group was the only bank that underwrites munis included in the state's list of financial companies determined to be boycotting energy businesses.

Illinois-based broker dealer Ronald Molo has been fined $815,104 in disgorgement and prejudgment interest and has been permanently enjoined from participating in the issuance, purchase, offer or sale of any security.

Joseph "Jodie" Smith takes the reins at the influential bond lawyer organization.

U.S. Treasuries saw more losses and municipal to UST ratios fell on the day's moves with the long bond valuation below 100%.

Federal Reserve Governor Lisa Cook said she supports the central bank's policy-tightening path.

Steve Genyk, head of middle markets, will assume leadership of the public finance team on an interim basis, the firm said.

The Federal Reserve Bank of Atlanta president he would keep the tightening in place next year to reduce inflation that remains near a four-decade high.

Bids wanteds are on the rise, but a constructive secondary market showed a steady to firmer market in the past two sessions. ICI's latest outflows figure is the highest since June.

The September Federal Open Market Committee meeting may provide a turning point in monetary policy. Brendan Murphy, head of global fixed income, North America, at Insight Investment will offer his thoughts about the meeting and what to expect going forward.

Triple-A yields fell four to 10 basis points across the curve amid robust secondary trading with high-grade names showing clear moves to lower yields.

Should the proposal go forward, the board should provide analysis and evidence as to how such a requirement would benefit the market, dealers said.

Mayor Lori Lightfoot's proposed budget would forgo an inflation-formula-based property tax hike and make supplemental contributions to the city's pension funds.

The Municipal Securities Rulemaking Board's intends to spend $45.5 million over the course of FY2023.

Triple-A yields rose more than three-quarters of a point on the front end and nearly half a point out long in September as munis posted 3.84% losses.

"All of you who are looking for a pivot, be careful what you wish for," the chief economic adviser at Allianz SE and Gramercy Funds chairman said.

For the first three quarters, total issuance sits at $308.440 billion, down from $361.932 billion in 2021. Taxables are down 48.0% to $45.724 billion from $87.979 billion.

Legislation requiring standardized financial disclosure from issuers is attached to a must-pass defense bill, which narrows the window to fight the measure.

"It will take time for the full effect of tighter financial conditions to work through different sectors and to bring inflation down," Brainard said. "Monetary policy will need to be restrictive for some time to have confidence that inflation is moving back to target."