Investments

High-yield municipal bond funds saw inflows of $534.1 million compared to $300.6 million compared the previous week, per LSEG Lipper data.

"This matter is now under active investigation by federal authorities and impacted financial institutions, who are coordinating with the White Lake Township Police Department," said Daniel Keller, chief of police, in a statement.

PREPA says it is short on money and Genera's parent company has said it may go out of business.

Economic forecasts include the possibility of higher inflation and slower growth that could stall future cuts to the federal fund rates.

Nonprofit Provident Resources Group is buying a five-year old student housing building that serves the University of Central Florida and Valencia College.

Issuance of housing bonds for the first half of the year was at $22.243 billion in 357 issues, up 31.7% from 1H 2023's figure of $16.891 billion in 381 issues.

Technicals could "break down" if there is a potential decline in risk assets or rising unemployment, particularly in white-collar jobs, said Jeff Timlin, a managing partner at Sage Advisory.

Blackstone Inc. is refinancing tax-exempt debt for a 76-story residential tower in downtown Manhattan designed by famed architect Frank Gehry.

Chicago plans to bring to market $806 million of bonds on Thursday, a refinancing deal that will help close its fiscal 2024 budget gap.

The company hopes to come to market after completing negotiations on $6 billion of senior bank financing.

Some Midwest states, notably Michigan and Ohio, dipped well below a national average that saw roughly two of every three school bond measures approved in November.

The top 10 underwriters for healthcare issuance accounted for $20.056 billion in the first half of 2024.

The top 10 financial advisors for housing deals accounted for $12.595 billion in the first half of 2024.

As the largest private-activity bond issuance and first investment-grade debt for American high-speed rail, this transaction, which also won Deal of the Year in the Innovative Financing category, opens new avenues for large-scale infrastructure projects in a traditionally underserved financing sector.

Muni investors hope "any move toward higher yields is steady, even dignified, such that it doesn't catalyze an outflow cycle that would countervail year-to-date total returns just before we close out the year," said Vikram Rai, head of municipal strategy at Wells Fargo.

The trifecta of sports team exits, homelessness and city leadership turnover has placed the San Francisco Bay area city on shaky fiscal ground.

The session, which begins Jan. 14 with a more-conservative Republican majority, could bring additional anti-ESG and DEI legislation.

Munis ended November in the black with the asset class seeing gains of 1.73% for the month, pushing year-to-date returns to 2.55%.

After losing its first appeal, the Puerto Rico Oversight Board initiated a second appeal with the First Circuit Court of Appeals.