Investments

The firm said Saporito's hiring is among several other additions made to beef up Wells Fargo's commitment to munis.

The Hall of Fame initiative celebrates individuals whose careers have left an indelible mark, while the Rising Stars program recognizes the muni finance leaders of tomorrow. Nominations for the 2024 classes will be accepted until Friday, May 31. This will be the final deadline.

While Kansas' sales tax and revenue (STAR) bond program recorded its first default late last year, Bonner Springs is considering using it for a development that includes a Mattel toy-themed amusement park.

Brodie Killian has moved to PFM from Stifel Nicholas & Co., joining its Ann Arbor office as a director.

April continues to be "harsh" for munis as the asset class has given up roughly 72 basis points in the first two weeks of the month, said Jason Wong, vice president of municipals at AmeriVet Securities.

The city may have to make deeper cuts next year if voters don't approve two tax increases headed for the November ballot, if the City Council approves.

The most recent open solicitation period, last October, yielded three proposals.

"We were originally thinking that we would offer five-, seven- and 10-year maturities, with $500 million in each tranche. But we decided today to just offer 5s and 10s — $500 million of five-year bonds and $1 billion of 10-year bonds," said Ben Watkins, Director of Florida's Bond Division.

Duluth-based St. Luke's affiliation with Aspirus Inc. has lifted the prospects for its speculative-grade bonds; S&P placed the hospital on CreditWatch positive.

New York City Municipal Water Authority returns to the municipal primary after a $1.4 billion deal earlier this year.

In a week marked by inflation and jobs data that made clearer the Federal Reserve will not be cutting rates nearly as much or as many times as some had expected even a week ago, Friday's headlines further complicated the landscape for investors and munis have had little choice but to go along for the ride.

The city will leverage its own GO bonds to finance the stadium.

The top two municipal bond insurers wrapped $7.132 billion in the first quarter of 2024, up from the $5.735 billion of deals in the first quarter of 2023, according to LSEG data.

"The financial and engineering industries need to align to get the owners to do what it is they need to do to make sure it's a durable asset," said Maria Lehman, immediate past president of ASCE.

Municipal Market Analytics reports the most technical defaults in 2023 since it started tracking them, including 24 in the not-for-profit hospital sector.

Gary Hall, President of the Infrastructure & Public Finance Division at Siebert Williams Shank & Co., joins Bond Buyer Executive Editor Lynne Funk to talk about the importance of the muni industry in financing the country's extensive infrastructure needs -- from ports and airports to bridges and energy solutions.

Municipal bond mutual funds saw the seventh consecutive week of inflows and the 14th week of inflows for high-yield funds.

The Municipal Securities Rulemaking Board's April 17-18 meeting will center on the many rule amendments the regulator has on.

"We withdrew the rating because we have determined we do not have sufficient information to maintain a forward-looking credit opinion on the city," S&P said.

A new report by the MSRB showed that from 2018 to 2022, a substantial increase in trading activity and the number of pre-trade quotes has been responsible for better pricing.