Commercial banking

Darien Shanske is the Martin Luther King Jr. Professor of Law at the University of California, Davis School of Law.

Issuance remains heavy this week, but while it's elevated, the muni market is "structurally undersupplied," meaning if 2024's record level of $500 billion-plus of issuance was doubled, the market could still digest it quite well, said Wesly Pate, a senior portfolio manager at Income Research + Management.

Missouri lawmakers have opened a new salvo in the battle with Kansas over who gets to fund new stadiums for the Kansas City Royals and the Kansas City Chiefs.

Mass deportations and tariffs on key trade partners are expected to have a "significant" negative impact on the U.S. and California economies, according to the UCLA Anderson Forecast.

New York Judge Andrew Borrok said a ruling on the summary judgments could come by late April after "a lot of sitting and writing and thinking."

The Texas city, which is considering an $800 million general obligation bond election next year, expects to issue nearly $400 million of debt in 2025.

The House Committee on Transportation and Infrastructure is in the early stages of hammering out a surface transportation bill designed to prop up the Highway Trust Fund while House Ways and Means tinkers with a tax deal.

Disasters like wildfires, floods and hurricanes "are striking harder and more often."

Senate GOP leaders also aim to make the TCJA tax cuts permanent, which would raise the costs of tax reform unless a new scoring method is adopted.

Illinois will sell $725 million of junior sales tax revenue bonds in a competitive deal pricing Tuesday. The Build Illinois bonds will fund capital projects.

The top five bond financings totaled more than $6 billion.

Daily report for March 05, 2025

Gary Carrai serves as chief product officer with LPL Financial.

Earlier in his career, he was a financial advisor with Lydian Wealth Management, a multifamily office based in the Washington, D.C. area.

The Bond Buyer's Caitlin Devitt and Kyle Glazier discuss the outlook for tax and infrastructure legislation.

Short-end U.S. Treasuries rallied mid-morning, while UST yields were little changed out long, but ended the day weaker across most of the curve with the greatest losses out long. Munis were steady throughout the day.

The city's Independent Budget Office projects New York's operating surplus as a percentage of tax revenue will fall to 4.8% at the end of the fiscal year.

Kelly leads strategic partnerships, industry alliances, and go-to-market strategy for Vertafore's insurance carrier and MGA suites of products. Maheu's career in insurance and financial services spans nearly 15 years and includes serving as Vice President of Professional Publishing and Training at The National Underwriter Company and as Executive Director at The National Association of Independent Life Brokerage Agencies (NAILBA).