Buy side

Joe Geraci, who spent 24 years at Citi, most recently as co-head of the Global Spread Products division, will join investment advisor Old Orchard Capital.

As issuance rose in 2020, so did municipal bond insurance usage, with $34.167 billion wrapped, or 7.5% insured total issuance from almost 5.7% in 2019.

Bel Air Investment Advisors is Hightower's 14th and largest acquisition in a year, with $8 billion of assets under management including $2.8 billion of municipals.

Jennifer Johnston will replace Tom Walsh, who is retiring on Dec. 1.

Eaton Vance operates dozens of municipal bond mutual funds under the Eaton Vance, Parametric and Calvert brands.

The firm hired seven new senior-level bankers in its fixed income division.

The housing and transportation sectors had the biggest declines in municipal bond volume.

It's still insufficient for New York’s Metropolitan Transportation Authority and other struggling issuers, according to Reinvent Albany.

Preston Hollow says another court ruling proves some of its defamation claims. Nuveen counters that accusations fail to rise to defamation because many are opinion or true.

Primary market deals generated strong demand, and municipals were little changed in secondary trading.