News and Information from Bond Buyer

With federal funding cuts, immigration policy shifts and legal threats from Washington compounding with enrollment dropping,

Muni SMAs now hold an estimated $1.3 trillion in assets under management across around 180 managers, per J.P. Morgan. Meanwhile, ETF muni holdings are at $163.1 billion, up 22.4% year-over-year, as of the third quarter of 2025, according to the latest Federal Reserve data.

The concentration of the retail investor has grown in a market that often struggles with liquidity.

"The bond market marked down the odds of rate cuts after the release," said FHN Financial Chief Economist Chris Low. "The fact long yields are still lower than two days ago suggests traders are skeptical of the quality of the employment data but are confident the Fed will use it as a reason to keep rates steady," he said.

Longtime Columbus auditor Hugh Dorrian died Feb. 6. He was widely respected for his dedication to public service, transparency and timely audits.

As Congress will this year be faced with the renewal of the surface transportation bill and finding ways to fill the highway trust fund,

The price drops follow a lawsuit filed Friday by bondholders alleging the mall's owners colluded with the city of East Rutherford to lower the property assessment.

Join our panel of industry leaders as they discuss expectations for the public finance space.

The health system plans to price $162 million on Feb. 18 and could sell up to $425 million this year.

Experts looking at the oncoming effects of the One Big Beautiful Bill Act predict that states may have to raise taxes on the wealthy or corporations to compensate for rising Medicaid costs.

The state sold the debt in a competitive auction Tuesday morning, with interest rates landing in the low 3% to high 4% range across maturities.

Illinois Gov. JB Pritzker resurrected a 2024 pension proposal that would increase the state's funding goal to 100% by 2048.

The prepaid gas sector, once a small niche sector in the muni market, has grown exponentially over the years, with issuance reaching a record $31.4 billion in 2025.

Tuesday was a particularly heavy day of supply at an estimated $7.5 billion, per J.P. Morgan strategists.

The competitive bond sale comes after the triple-A-rated city received a negative outlook from S&P over the use of reserves to ease budget pressures.

Federal grants and loans account for $15 billion of the $16 billion Hudson Tunnels project.

By an overwhelming bipartisan majority, the House advanced affordable housing legislation that includes a proposal that's expected to spur mortgage revenue bond issuance.

The state transportation commission expects to tap into $1.5 billion of revenue bond authorization with two deals totaling $350 million this year.