News and Information from Bond Buyer

Exploring why some call 2022 "the year of the great reset" and what that may mean for the muni market this year.

Janet Mills wants to use $1 billion in federal infrastructure aid and higher-than-expected state revenue to fund billions in transportation improvements.

Volume for the upcoming week is estimated at $8.34 billion, consisting of $6.30 billion of negotiated deals and $2.04 billion of competitive sales.

Hospital margins ticked up in November, but 2022's bruising will linger well into this year straining some ratings.

Underwriting fees generated for the board totaled some $7.4 million, an almost 50% drop from the $14.3 million the board received in 2020.

Legacy Cares, which left construction contractors unpaid and had its bond trustee declare a default event, says a new debt sale will clear up its fiscal issues.

"The overall tone of the budget is one of prudency, which is correct during this current period where federal pandemic aid is winding down and there are questions about whether we enter into a recession," said Howard Cure of Evercore Wealth Management.

Municipal financial advisors saw $304.569 billion of business in 5,935 transactions in 2022, down from the $377.886 billion in 8,611 deals in 2021.

The action affects about $312 million of debt. The outlook, previously positive, is stable at the new, higher rating.

Inflows returned as Refinitiv Lipper reported $1.981 billion was added to municipal bond mutual funds in the week ending Wednesday after $2.477 billion of outflows the week prior.

New regulations appear to be highlighting disagreements on major muni market topics.

These would be the territory's first general obligation bond issuance since 2019.

California Gov. Gavin Newsom's proposal reverses plans laid out in last year's budget to redeem some bonds and use cash rather than bonds for some projects.

Underwriting specialist Alice Livingston joined Stern Brothers this month.

The firm is expected to announce the new muni leadership team next week.

Outflows lessened, with the Investment Company Institute reporting investors pulled $3.157 billion from mutual funds in the week ending Jan. 4, after $3.402 billion of outflows the previous week.

P3 that build tolled highway lanes could help meet funding gaps, Gov. Bill Lee said as he unveiled his transportation plan to state officials.

Jim Stricklin has joined the team of advisors at Columbia Capital Management.

Prager filed with for dissolution with FINRA last month and Dallas, Texas-based HilltopSecurities stepped in to snap up the bankers in a move that will bolster its East and West Coast muni presence.

The board has confirmed his departure from the regulator is imminent