Buy side

JPMorgan's move to acquire First Republic and its muni portfolio eases the risk of nearly $20 billion of munis flooding the market.

While Nuveen is a storied and well-respected institution in our business, it did not define John Miller.

Except for the riskiest sectors, high-yield credit fundamentals appear to be strong, but rising interest rates and fund outflows are dampening primary and secondary market activity.

James Pruskowski, a nearly 30-year veteran of BlackRock, will be CIO and head of business development for 16Rock Asset Management LLC, a newly formed affiliate of 16th Amendment Advisors LLC.

Illinois' $2.45 billion GO sale should attract a wider investor audience with the higher ratings as the state seeks to raise new money for capital projects, fund ongoing pension buyout programs, and refund some debt for present value savings.

A John Miller-less speculative bond market may mean more diversification and price transparency, say some investors.

The announcement came as a global settlement agreement that resolves Preston Hollow Capital LLC's litigation against Miller and Nuveen was disclosed.

The publicly offered tax-exempt debt product is new for the firm and the collateralized debt obligation structure may be one of the first for the market since the 2008 financial crisis.

Ceffalio is taking on a newly created position at the Chicago-based firm.

After "carnage" in 2022, a munis should see a "positive environment" this year, according to analysts.