News and Information from Bond Buyer

Nonprofit Provident Resources Group is buying a five-year old student housing building that serves the University of Central Florida and Valencia College.

Issuance of housing bonds for the first half of the year was at $22.243 billion in 357 issues, up 31.7% from 1H 2023's figure of $16.891 billion in 381 issues.

Technicals could "break down" if there is a potential decline in risk assets or rising unemployment, particularly in white-collar jobs, said Jeff Timlin, a managing partner at Sage Advisory.

The Federal Reserve chair is not concerned about President-elect Trump nominating his successor well in advance of the end of his term in 2026, saying he is "confident" he will have a productive relationship with the next Treasury Secretary.

Economists gaming out the possibilities for tax policy in the Trump administration believe the bond market will dictate budget cuts and spending increases.

Chicago plans to bring to market $806 million of bonds on Thursday, a refinancing deal that will help close its fiscal 2024 budget gap.

The company hopes to come to market after completing negotiations on $6 billion of senior bank financing.

Some Midwest states, notably Michigan and Ohio, dipped well below a national average that saw roughly two of every three school bond measures approved in November.

The top 10 underwriters for healthcare issuance accounted for $20.056 billion in the first half of 2024.

The top 10 financial advisors for housing deals accounted for $12.595 billion in the first half of 2024.

As the largest private-activity bond issuance and first investment-grade debt for American high-speed rail, this transaction, which also won Deal of the Year in the Innovative Financing category, opens new avenues for large-scale infrastructure projects in a traditionally underserved financing sector.

Muni investors hope "any move toward higher yields is steady, even dignified, such that it doesn't catalyze an outflow cycle that would countervail year-to-date total returns just before we close out the year," said Vikram Rai, head of municipal strategy at Wells Fargo.

Rep. Patrick McHenry, R-N.C., also said implementation of the data standards law may be tricky with the change of administrations.

The trifecta of sports team exits, homelessness and city leadership turnover has placed the San Francisco Bay area city on shaky fiscal ground.

The incoming administration heads into the White House with a promise to create a national crypto stockpile as public finance suffers losses, issues warnings, and buys into crypto-backed ETFs.

The session, which begins Jan. 14 with a more-conservative Republican majority, could bring additional anti-ESG and DEI legislation.

Munis ended November in the black with the asset class seeing gains of 1.73% for the month, pushing year-to-date returns to 2.55%.

Federal Reserve Gov. Christopher Waller, a Trump appointee, said that while recent inflation readings are concerning, monetary policy would remain restrictive even if the central bank cuts interest rates by another quarter-point this month.

After losing its first appeal, the Puerto Rico Oversight Board initiated a second appeal with the First Circuit Court of Appeals.

Independent Financial Group, LLC failed to ensure its employees were offering low-cost options to retail customers looking to rollover a 529 plan to another state.