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Taxable munis have returned 1.48% month to date and 0.29% year-to-date while investment-grade munis have seen 0.44% returns so far in March and 0.05% year-to-date. USTs are in the black at 1.43% so far this month but returning -1.76% year-to-date while corporate bonds are returning 1.24% in March but -0.46% year-to-date.
March 12
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Bond trustee UMB Bank notified bondholders that Branson Airport's leaders want to pursue federal grant funding for maintenance and infrastructure upgrades, but it will require bondholder approval.
March 12
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Gov. Michelle Lujan Grisham said her public-private sector plan to build a strategic water supply will remain a top priority after a bill for financing failed to advance in the legislature.
March 12
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The National Football League's Chicago Bears are pursuing plans to build a publicly owned domed stadium in Chicago, boosted by $2 billion of private funds.
March 11
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Issuers have increased their debt sale in recent weeks, as issuance has come in above $70 billion year-to-date, according to LSEG data
March 11
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Raymond James' 10 hires include six senior bankers and an entire Citi public finance team focused on California.
March 11
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States and local governments can use the funds to hire advisors to consider alternative delivery models for transportation projects.
March 11
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Market participants said it is yet to be seen whether issuers will pull back their BABs refundings due to concerns after several bondholders sent a letter to the trustee on a Regents of the University of California deal, saying it was "prohibited" from executing the redemption.
March 11
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Pittsburgh-based Robert Morris University was downgraded by Moody's Ratings. The private university is part of a growing list of smaller higher education institutions, particularly in the Northeast, that are facing increasing financial pressures as the pool of potential students shrinks.
March 11
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Vivian Altman, Head of Public Finance at Janney, sits down with Bond Buyer Executive Editor Lynne Funk to discuss the state of the muni market, how the new-issue market is faring and where risks and opportunities exist in the space.
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High-yield and taxable munis continue to outperform, supply grows but concentrates in larger deals led by $3 billion of state personal income tax revenue bonds from the Dormitory Authority of the State of New York next week.
March 8
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"Cry me a river, Rep. John Garamendi, D-Calif., told officials testifying about grant funding problems in the infrastructure law. "You guys have never had it so good."
March 8
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Sam Graves' term leading the Transportation and Infrastructure Committee is up but he is looking to stay on.
March 8
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According to FINRA, the mispricing resulted in customer harm amounting to $44,927.83, on top of the $90,000 fine.
March 8
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In President Biden's State of the Union address, he touted the progress he's made on raising corporate taxes while setting up a larger battle for further increases as Trump era cuts are set to expire.
March 8
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One investor is offloading the debt, while another sees an opportunity.
March 8
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Several investors in a challenge to a University of California Regents Build America Bonds redemption "may give issuers additional reason for pause when vetting similar refundings," J.P. Morgan strategists said.
March 7
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