Investments

The measure would have requested $20 billion of bond authority from voters in nine San Francisco-area counties; backers said they would try in a later year.

Part of the surge in issuance came from issuers tapping the capital market after several years due to the inability to no longer postpone long-delayed projects and the drying up of pandemic aid.

Municipal bond insurers wrapped $18.592 billion in the first half of 2024, a 19.5% increase from the $15.561 billion insured in the first half of 2023, according to LSEG data.

Barclays rate strategists believe the 10-year part of the Treasury curve has room to cheapen. "In that case, tax-exempts will likely not only follow, but underperform."

Environmental, social and governance issues are a ripe debate among Republican states who oppose federal efforts they say are overly political.

Eduardo Ramos had faced insurance fraud charges that were unrelated to his work at the school district.

Missouri's Kansas City Public Schools is looking to take its modernization plan to voters and seek approval for a $474 million GO bond measure next April.

Proposed guidelines for federal tax credits could undermine the effort to build a clean hydrogen market, critics say.

The state plans to price the bonds in early October.

Municipal bond mutual funds saw inflows as investors added $528.7 million to funds after $674.1 million of inflows the week prior, according to LSEG Lipper. This marks seven straight weeks of inflows.

Long-term liabilities have gone down and revenues have gone up, Fitch said.

Salt Lake City School District is seeking $730 million of bonds and Salt Lake County is asking for $507 million of bonds at the Nov. 5 general election.

Underwriting spreads rose to $7.11 in the first half of 2024 from $3.70 in the first half of 2023.

Missouri Secretary of State John Ashcroft's office said the ruling was "not just legally deficient but also morally wrong."

The state has selected a stretch of Interstate 24 between Nashville and Murfreesboro to be its first "Choice Lane," an optional toll lane to bypass congestion.

The top five bond financings came in above $1 billion.

The Investment Company Institute reported $839 million of inflows into municipal bond mutual funds for the week ending Aug. 7 after $442 million of outflows the week prior. Exchange-traded funds saw $680 million of inflows after $950 million of inflows the previous week.

Moody's sees strength in New Jersey's economy and governance. 

Prince George's County Public Schools in Maryland is leveraging the P3 process to build eight new schools while issuing $663 million of taxable bonds.

The Financial Industry Regulatory Authority adds Morgan Stanley to the growing list of firms charged with mark-up and mark-down failures on municipal securities transactions.