Investments

The Aloha State received three rating affirmations as it prepares to sell $750 million of taxable general obligation bonds.

Donald Trump discussed various items related to the Fed and its independence and stated he would not nominate Jerome Powell for another term as chair. Gennadiy Goldberg, head of U.S. rates strategy at TD Securities, discusses what a Trump presidency may mean for the Fed.

A bond-financed rehab of the downtown sports arena is receiving pushback.

The Chicago City Council delivered a strong rebuke of Mayor Brandon Johnson's fiscal 2025 budget on Thursday, rejecting a $300 million property tax increase.

The announcement of $3.4 billion in grants for rail, roads and clean-energy efforts comes on the third anniversary of Biden's signature legislation.

The Los Angeles school district was at the forefront of a Build America Bond refunding wave with its $2.9 billion deal.

This month is experiencing similar volatility as 2016 when generic yields traded higher by 50 to 70 basis points during November of that year, said Kim Olsan, a senior fixed income portfolio manager at NewSquare Capital.

Opposition from President-elect Trump and lawsuits from all sides persuaded Gov. Kathy Hochul to lift her pause on the tolling program.

New Senate Majority Leader John Thune, who played a key role in negotiations of the Tax Cuts and Jobs Act, noted at the time the "fierce support in both chambers" for tax-exempt private activity bonds.

The court affirmed its earlier decision, which means bondholders have a claim on the full $8.5 billion due.

The county is reviewing responses to a request for proposals to help fund construction of a replacement jail through a bond-financed lease-purchase arrangement.

The number of active ETFs launched has skyrocketed this year, with 20 new funds launched year-to-date. This compares with the four passive ETFs created so far in 2024, according to Morningstar Direct data.

The finance team burned the midnight oil to assemble and market one of the most complex deals in the municipal market this year.

Market reaction to inflation numbers was "tempered," said Richard Flax, chief investment officer at Moneyfarm. But should inflationary pressures hold in 2025, "markets may anticipate that further rate cuts could be limited in scope, suggesting a more cautious investment outlook."

When communities can't access affordable insurance, it can decrease home values, tank municipal bond ratings, and cripple the tax base — and this will only get worse if left unaddressed.

Rudy MeJia Jr. has been fined and given an eight-month suspension from associating with any FINRA member firm for failing to disclose that he opened a private investment pool and was receiving commission for sales on behalf of it.

Trump's proposed corporate tax cut, if enacted, would further concentrate the buyer base and increase the chance of volatility, said Wells Fargo head of municipal strategy Vikram Rai.

PureCycle Technologies, which bought back its muni bonds earlier this year, continues to sell them on to support its liquidity needs, CFO Jaime Vasquez said.

Omaha voters approved six general obligation bond measures totaling $333.4 million last week, none of which required a tax increase.

Municipals ignored USTs losses, leading to lower muni to UST ratios and adding to the better performance across the curve and credit spectrum.