Buy side

Weakness in the muni market has been partly amplified by ETF selling; high-grade yields rose more than 60 basis points on parts of the curve over two sessions.

Fallout from the Legacy Cares deal includes bondholder lawsuits against the underwriter and bond counsel, payment defaults, a Chapter 11 bankruptcy, and now fraud charges from the SEC and DOJ.

New York Power Authority CFO Adam Barsky and Battery Park City Authority CFO Pamela Frederick join The Bond Buyer's Lynne Funk to unpack the far-reaching consequences of eliminating, reducing, or limiting the federal tax exemption for municipal bonds.

"We're navigating a crosscurrent of macro risks — tariffs, tax policy proposals, DOGE cuts, and evolving economic data — layered on top of a broader risk-off tone," said James Pruskowski, CIO of 16Rock Asset Management.

The state treasurer is seeking someone willing to take the role on a permanent basis.

The slowdown of growth in the fourth quarter does not imply there is dwindling demand for munis, said Pat Luby, head of municipal strategy at CreditSights.

Municipals are little changed to start the week after last week's selloff, which saw muni yields cut up to 20 basis points out long.

Investors like the 10-year area of the curve because "if they're buying duration, the tax-exempt market is usually going to be one of the best places to buy," said Wesly Pate, a senior portfolio manager at Income Research + Management.

S&P Global Ratings primarily cited a "precipitous decline" in unrestricted cash to explain its triple-notch downgrade of the system.

The Trump administration wants to shed federal office space, and bonds backed by those leases are feeling the heat.

The unpredictable nature of legislating leads most to holding off on disclosure changes until a bill becomes a law.

The Trump administration singled out the Las Vegas-Los Angeles bullet train for praise Thursday, the same day the deal priced.

The bonds are to be sold competitively in April.

KBRA raised the airport's outlook to positive last week, citing its improving financial profile and very strong traffic.

Women in Public Finance has announced the 2025 members of its board of directors and plans to expand its offerings as it nears its 30th anniversary.

An investor-driven selloff followed the Los Angeles wildfires. ICE Data Services experts join to discuss the reaction, credit impact and growing role of climate risk data.

Portfolio managers seem more sanguine about threats to the tax exemption from Congress.

BlackRock's move comes as money continues to flow out of muni mutual funds into ETFs and SMAs.

Munis continue to outpace USTs as ratios on the front end continue to richen relative to USTs, Jason Wong said.

"Our job is to take that volatility, figure out what's noise, figure out what's reality, and lean into the opportunities as we see them," said Alex Petrone, director of fixed income at Rockefeller Asset Management.