Investments

While the municipal market barely budged following the Fed's decision to cut rates 50 basis points, Thursday saw muni yields rise up to two basis points, depending on the scale, but still lagged the weakness in USTs. LSEG Lipper reported $716 million of inflows into municipal bond mutual funds.

The agency cited a sustained commitment to healthy reserves and structural balance.

The plan involves building modern infrastructure and streamlining government operations and delivery of services.

The city of Clyde defaulted in August and recently revealed it used debt proceeds for debt payments in a manner that "disguised the deficit cash flow."

The record pace of municipal bond supply this year is driven in part by cities and states realizing projects won't get any cheaper if they wait.

The ratio of local government municipal debt to GDP in aggregate has fallen to around 10% from 20% in 2010.

Florida's official outlook indicates the state government faces a $10 billion deficit by mid-2028 without major tax and spending changes.

The University of the Arts, a private college in Philadelphia that abruptly closed its doors in June, filed for Chapter 7 bankruptcy.

"We, the city of Philadelphia proper, we can't do it alone," Parker said in a keynote address at The Bond Buyer Infrastructure conference Tuesday. "We are grateful to our state and our federal partners, as well as the bond market."

For municipals, Wednesday "marks a crucial step forward, perfectly aligned with the current risk landscape," said James Pruskowski, chief investment officer for 16Rock Asset Management.

"It's great people are thinking about creative solutions, but don't forget the rules still apply," said the SEC's Dave Sanchez.

Up to $182 million of bonds will be issued by a city of Frisco entity to renovate Toyota Stadium, home to Major League Soccer's FC Dallas.

"I didn't even know this was an industry that existed. I didn't think there was a place to marry finance, investment banking and public policy. I found my calling," said Arndt.

"I look forward to continuing to work on interesting projects and taking on more responsibility" Bain said.

"I was a public policy major," Calabrese said. Her studies focused on the regulatory environment at different levels of government, providing "the perfect segue into munis."

"When I joined Stradling right out of law school, I didn't know what public finance was and I didn't know what I was getting into, but I quickly discovered that I love what I do," said Charlebois.

"Public finance was a great fit and I was excited to find something I loved," Chevalier said.

"I joined Loop straight out of college," said Gellert, who graduated from Penn State University in 2013. "I appreciated the math behind bonds and wanted to have a long-term career."

"I had that internship and felt strongly I wanted to pursue that career path," said Goggins.

"It's a rewarding experience to be part of that group and to be with like-minded women," Gupta said. "I see a lot of young women looking for the same mentorship that I received."