Commercial banking

Native American Tribes are working their way through Congressional committees looking for support on legislation that would allow the tribes to issue municipal bonds using the same rules as state governments.

Current and former residents of The Harborside, a 329-unit continuing-care retirement community in Port Washington on Long Island's North Shore, are anticipated to receive an initial $6 million distribution after a sale of the facility for $86 million to Chicago-based private equity firm Focus Healthcare Partners, according to a plan approved by a bankruptcy court.

The amount of toll revenue collected between the start date and Jan. 31 is in line with budgeted projections, Jai Patel, MTA's deputy chief financial officer, said.

A state-by-state review of 2024 yearend issuance in the Northeast.

Record issuance spurred by infrastructure needs and election-related concerns.

The muni market produced $512.7 billion of debt issuance in 2024, up 33.1% from $385.1 billion in 2023, according to LSEG data. This surpasses the previous record of $484.6 billion in 2020 by almost $30 billion.

In total, municipal bond insurers wrapped $41.09 billion of debt in 2024, an increase from the $35.38 billion insured in 2023, according to LSEG data.

The 116% surge in healthcare bond sales from 2023 marked "a splash back from depressed issuance the few years prior," said Matt Fabian, partner at Municipal Market Analytics.

The number of transportation issues surged to 529 last year from 405 in 2023, according to LSEG data.

Most states and sectors in the region beat their 2023 issuance by wide margins in 2024. 

Daily report for February 24, 2025

Mike Manalac is a CPA with experience at small, Top 20 and Big Four accounting firms and industry-leading Fortune 500 companies. He is currently an accounting manager at Google, as well as the author and illustrator of the No Flux Given playbook. He also pioneered the introduction of the virtual whiteboard to the accounting world. Reach him at www.mikefromaccounting.com.

Indraneel Chakraborty is a professor in the finance department at Miami Herbert Business School. He has worked for Citadel Investments and Citigroup Global Markets fixed-income divisions.

Market activity has been somewhat "subdued," and USTs yields have been "relatively well-behaved," though the 10- to 30-year rates have slightly underperformed, moving up three to five basis points, said Barclays strategist Mikhail Foux.

A plan to sharply cut Community Development Block Grant program staffing follows Trump's statement that he is inclined to eliminate the Federal Emergency Management Agency.

Elaine Aisyah is the founder and owner of Era Advisory.

She is a CFP and IFP practitioner specializing in Islamic finance, with an emphasis on estate planning. She provides holistic financial solutions to a diverse clientele, spanning from professional, retail and corporate to celebrities. She is based in Malaysia.

Edward Patton works with business owners and managers to improve financial performance and increase the value of their companies by helping them better understand historical and anticipated results and the economic implications of their decisions. Reach him at www.pattontrender.com/.

The Senate move provides an alternative pathway towards a final budget agreement as the House wrestles with an approach that could include key tax policy changes for the muni market.