Organization Root Tag

The agreement will move along the Penn Station Access commuter rail undertaking and East River tunnel fix-ups.

Coming off last week's $19.5 million influx of weekly new issues, supply this week is lower as the market watches the Federal Open Market Committee meeting.

The issue is the power of the Oversight Board over several locally passed pension laws the board says might make the Plan of Adjustment unfeasible.

Following the departure of Devin Nunes as the top Republican slated to succeed the retiring Kevin Brady on the Ways and Means Committee, several Republicans have begun campaigning for the top spot, which could hold considerable influence over the municipal bond industry if Republicans take the House in 2022.

KBRA says the deal will allow for expansion.

There are $8.127 billion of negotiated deals on tap and a mere $367.4 million of competitive loans slated, none over $100 million. Thirty-day visible supply totals $9.9 billion and net negative supply is at $8.4 billion.

Chicago's captured a new low in recent history on tax-exempt spreads but the taxables, which were downsized by $500 million, faced a tougher road amid Treasury volatility.

Municipal yield curves were little changed for the seventh straight session while Refinitiv Lipper reported the 40th week of inflows into municipal bond mutual funds, with high-yield seeing a large increase week over week.

"The vast majority of muni issuers are trying to do the right thing,” Zehner said. “The vast majority of underwriters and municipal advisors are trying to do the right thing.”

Recommending Libor-linked securities triggers important disclosure and fiduciary obligations.

The Municipal Securities Rulemaking Board is seeking comment on environmental, social and governance factors practices in the municipal securities market.

Thirty-day visible supply drops to $13.54 billion with still a large chunk of new issues to be priced Wednesday and Thursday.

The port's operating revenue will continue to recover, enabling it to return to a total net revenue debt service coverage ratio of 1.75 times by 2023, the rating agency said.

Gavin Murrey, EVP and head of public finance and debt investment banking, will continue to run the public finance division and report to Carter.

Chicago's long-planned refinancing was led by a GO tranche priced Tuesday with spreads of 33 to 86 basis points, and follows with the Sales Tax Securitization piece Wednesday.

The municipal market is poised to absorb the late-year burst of supply as market technicals are expected to remain positive through year end.

The guessing game is over about President Biden’s pick for Federal Reserve chair, but several names are in the mix for three additional vacancies on the board, including vice chair for supervision.

The weaker-than-expected employment report sent U.S. Treasury yields lower and equities sold off. Munis did what they've been doing — mostly ignored it.

Following the news that Rebecca Olsen, former director of the Office of Municipal Securities has moved to deputy chief in place of Mark Zehner, the Securities and Exchange Commission has named Ernesto Lanza as acting director.

Mark Zehner has retired from his position as deputy chief of the SEC's public finance abuse unit, a position that Rebecca Olsen, former director of the Office of Municipal Securities, has taken over.