Bond insurance

"The work done by our agency often focuses on the long-term," said Connecticut State Treasurer Erick Russell.

The experts, hired by bond parties, say the Oversight Board's economic and expense assumptions underlying its plan of adjustment are too pessimistic.

The top two municipal bond insurers wrapped $22.814 billion in the first three quarters of 2023, a slight dip of 0.5% from the $22.929 billion of deals done over the same period in 2022, according to Refinitiv data.

The question is raised whether "invitations" to support the plan were the same as "solicitations."

In comparison to the $17.689 billion of transactions completed in the first half of 2022, the top two municipal bond insurers wrapped $15.571 billion in 2023.

The top two municipal bond insurers wrapped $15.571 billion in the first half of 2023, a 12% decrease from the $17.689 billion of deals done in the first half of 2022, according to Refinitiv data. Insurance was up in Q2.

Connecticut's baby bond trust received its initial funding without the need to borrow with the help of a debt reserve insurance policy.

The top two municipal bond insurers wrapped $5.735 billion in the first quarter of 2023.

The deal is expected to close in the third quarter of 2023.

Mark Cappell is the president of the National Federation of Municipal Analysts for 2023, its first bond insurer to take the role since 2009.