Investments

Walrath will support BAM's underwriting and credit departments in executing every credit BAM insures and advise the bond insurer on other legal matters.

The short-lived federal funding freeze from President Donald Trump and jeopardy of tax-exempt status are just the latest issues plaguing the muni bond industry.

Muni yields were bumped one to eight basis points, depending on the scale, while UST yields fell three to 10 basis points, with the greatest gains out long.

Connecticut's governor proposed a new public finance tool as part of a broad plan to improve the state's resiliency against extreme weather and climate change.

Charlotte received approval to sell the debt from the North Carolina Local Government Commission, an arm of the Department of State Treasurer.

Transportation officials and lawmakers are exploring the road ahead for the Highway Trust Fund, electric vehicle user fees, and the reauthorization of the surface transportation bill as friction over funding mounts.

As Chicago Public Schools tries to get its fiscal house in order, it faces management turmoil, risks to federal funding and threatened immigration raids.

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

Tax exemption concerns — though an elimination is unlikely — and the loss of federal stimulus will "most assuredly pull forward delayed issuance, with the first half of 2025 volume to exceed second half volume," said James Welch, a municipal portfolio manager at Principal Asset Management.

The muni industry is trying to get to the bottom of questions around how the House arrived at savings estimates for eliminating the tax exemption.

S&P Global Ratings revised the outlook on Southern California Edison and its parent company citing the potential depletion of the state's bond wildfire fund.

Plans to sell a bankrupt municipal bond-financed care facility to a private equity firm threaten to upend care for its frail senior residents.

To close out the day, USTs remained mixed, with yields rising on the short end and falling out long, while munis were changed up to a basis point, depending on the curve.

The San Joaquin Hills Transportation Corridor Agency tapped reserves to make early bond payments saving $203 million. It's parent agency, the Transportation Corridor Agencies, hopes to save $1.79 billion with additional early pay downs by 2030.

Issuers, trade organizations, and investors team up to fight the threat to the tax-exempt status of municipal bonds by laying out its effect on borrowing, the housing market, and infrastructure costs.

Gov. Kathy Hochul's $252 billion state budget proposal calls for lower-bracket income tax cuts and one-time cash payouts for everyone.

The change, which marked a move away from recent norms, was made since President Donald Trump took office on Jan. 20, the people told Reuters.

Analysts Chris Collins and Melissa Nicandri were among the 64 passengers and crew aboard American Airlines flight 5342.

January's municipal bond supply "will end up being heavier compared with the normally slow start of the year, but the pipeline should remain quite robust," Barclays said.

January's volume was $35.243 billion in 486 issues, up 10.8% from $31.817 billion in 554 issues in 2024, according to LSEG data.