Special Program Root Tag

For the first time since 2023, Georgia will bring its general obligation bonds to the municipal bond market, with a $1.57 billion competitive deal.

Market Intelligence analyst Jeff Lipton breaks down how security selection, sector allocation, curve positioning and carry can generate excess returns in high-yield munis, while warning that weak cash flow, a lack of economic viability, limited liquidity and thin disclosure can quickly undermine value.

Kansas City, Missouri, is weighing $235 million in special obligation bonds to help fund the $1.4 billion expansion of the KC Current's two-year-old stadium.

"I think generally there is an over-emphasis placed on the takedown at the expense of considering the overall cost of the transaction," Nikolai Sklaroff, capital finance director at the San Francisco Public Utilities Commission, said.

The Texas city's $115 million general obligation bond sale comes as a water supply emergency and potential further negative rating actions loom.

Market Intelligence analyst Jeff Lipton maps where credit remains stable and where caution is warranted in his mid-year scorecard, flagging pressure points in higher education, K-12, tobacco and parts of local government while outlining the structural strengths supporting states, airports and other essential-service sectors.

City officials attribute the structural deficit to inflation-driven spending increases combined with revenues that have not kept pace.

Market Intelligence analyst Jeff Lipton explains how California Mello-Roos land-secured bonds can add yield and diversification, and outlines the underwriting checklist investors should use to balance development risk against structural protections.

The public power sector is reacting with concern about the ongoing efforts to reorganize the Federal Emergency Management Agency that's proposing shifting risk and disaster recovery costs onto local utilities.