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The legislation gives up to $8.84 billion in bonding authority to the New Jersey Transportation Trust Fund Authority over a five-year period beginning July 1, about $1.76 billion annually.
March 26 -
"Demand is firming up. Interest rates have moved off the recent highs. Intermediate muni yields are about 50 basis points off from those highs," said Stephen Shutz, head of tax-exempt fixed income and a portfolio manager at Brown Advisory.
November 16 -
State Treasurer Elizabeth Maher Muoio said lower-than-predicted fuel use in fiscal 2023 meant a 0.9-cent lift to the Petroleum Products Gross Receipt tax rate.
September 6 -
The largest deal of the week comes from the New York City Transitional Finance Authority with $950 million of exempts and $250 million of taxables.
January 14 -
The agency cited “the appropriation of the full actuarial pension contribution in fiscal 2022 for the first time in 26 years" coupled with improved reserves.
January 12 -
The municipal market largely ignored the FOMC news that it would hold rates steady. New Jersey was 20 times oversubscribed and ICI reported $2.5 billion of inflows into long-term municipal bond mutual funds.
April 28 -
The dearth of supply will likely hold down rates and keep certain investors out of the muni market. High-yield municipal bonds, still the most in-demand sector, tightened again.
April 26 -
The Investment Company Institute reported municipal bond funds saw $2.675 billion of inflows in the latest reporting week.
November 25 -
Selling in a week with an expected light calendar should help the deal as will market fundamentals.
November 23 -
The top municipal issuers easily surpassed their issuance totals from 2018 year, with $400.51 billion in 10,582 transactions in 2019 compared to $320.35 billion in 8,549 deals the year before. California regained control of the throne after coming in third in 2018.
January 8