Buy side

"Assured has signaled that it's willing to engage in this process not like a traditional insurer but rather more akin to a value-maximizing market participant," an analyst said.

Accelerating deals does not cause undue strain on the underwriters, said Ron Banaszek, co-head of public finance and lead underwriter at Blaylock Van.

Under Dalton's leadership, the boutique firm became a prominent voice in the municipal market.

First Eagle has become a major player in the high-yield muni space in the last two years.

Investors interested in the additional yield offered in prepay energy deals should be aware of their corporate exposure as well as the sector's broader risk to the muni market, participants said.

Funded ratios remain useful, but they can mask risky assumptions, illiquid investments and correlated exposures that may force higher government pension contributions during the next downturn, writes Market Intelligence analyst Jeff Lipton.

Brightline West bondholders agreed to give Brightline more time to secure a $400 million equity contribution that was originally due on March 31.

Like state governments, most cities and counties remain on "solid footing" given high reserve levels and conservative budgeting, BofA strategists said.

Cloud tech and AI are two of the most important and impactful technologies for the development and operation of many analytical and optimization tools for the municipal market, company representatives say. 

Student housing bonds trade wide for a reason: declining college-age populations, private competition and non-recourse structures make demand, disclosure, university commitment and stress-testing the signals investors need to validate, writes Market Intelligence analyst Jeff Lipton.

Chicago will make the second half of its advance pension payment this year, Mayor Brandon Johnson told the Chicago Investors Conference.

The industry-shaping inductees helped shape the laws, practices, institutions and analytical approaches that underpin municipal finance, while building legacies that extend beyond individual deals and organizations.

Introducing The Bond Buyer's newest class of Rising Stars, who will be honored at an awards dinner in Chicago on Sept. 14-15, 2026.

The demand has its limits, however.

Market Intelligence analyst Jeff Lipton says muni investors should treat July as a reset, not a retreat, with positive flows, compelling taxable-equivalent yields and selective repricing supporting modest single-digit returns by yearend.

The larger tax-exempt portion of the bonds reportedly were 18 times oversubscribed.

The deal was too highly leveraged for some investors.

Market Intelligence analyst Jeff Lipton says overreliance on financial ratios can obscure forward-looking credit risks, making qualitative factors such as political willingness, management strategy, cyber-threat preparedness, legal security and economic and policy change essential to muni decision-making.

Brightline Florida now has until Friday to make the payments, negotiate another extension, or restructure its $5.5 billion of debt.

Although the proposal ultimately didn't become law, that disconnect created an attractive entry point for investors because prices reflected tax policy fears — not deteriorating municipal credit.