Investments

Proposed rulemaking on the FDTA is expected in June, but clarity on what exactly it means for the muni market is years down the line.

Healthcare issuance is up 122.2% year-over-year through April, rising to $9.062 billion through the first four months of 2024 from $4.078 billion over the same time period in 2023, LSEG data shows.

Issuance has increased, but financial performance and ratings are likely to stay volatile.

Strong and growing sales tax revenues support the bonds. Repayment isn't tied to ridership, which has declined.

Polk County, Iowa is issuing $113 million of general obligation capital loan notes, Series 2024A, for the Des Moines Airport Authority's new terminal project.

Munis posted losses in April, returning negative 1.24%. The asset class is also seeing losses of 1.62% year-to-date.

Alaska's efforts to manage its cyclical revenues brought an upgrade from S&P Global Ratings and positive outlook from Moody's Ratings.

Sen. Joe Manchin, D-W.Va., has already pledged to try to overturn the rule in Congress.

April's volume stood at $40.456 billion in 653 issues, up 21.2% from $33.377 billion in 666 issues in 2023.

The deal, originally planned at $1.5 billion in three maturities, was downsized and restructured and then restructured again into one 10-year bullet maturity.

In the last few weeks projections from LUMA Energy indicate the authority can afford to pay more bond debt, opposing bond parties say.

While munis were steady Tuesday, yields have risen over the past several weeks as "larger supply is part of a strong [year-to-date] trend for tax-exempts," said Matt Fabian, a partner at Municipal Market Analytics.

Subcommittee Chair Rep. Steve Womack, R-Ark., asked Buttigieg if the $20 billion of federal commitments for transit projects over the next decade "might create a check we can't cash."

The bill would authorize $105 billion in appropriations through 2028 but still faces a few hurdles in Congress.

Tyson brings experiencer representing and working for local governments to Greenberg Traurig's Chicago public finance and infrastructure practice.

BNP Paribas' Lindsay Costigan discusses the progress and ongoing challenges for women in the financial sector, her role in pushing for gender parity and diversity in finance, and how critical career decisions at pivotal moments can define success.

The top 10 bond counsels saw some shuffling and welcomed two new entrants, Locke Lord and Ballard Spahr.

School districts, which have been a main driver of debt issuance in Texas, account for 58% of the $17.4 billion of bond requests in Saturday's election.

Bonds from the authorization will likely be broken over three separate sales.

Climate change presents a higher risk for muni bonds, compared to other investments, because the debt often has longer maturities and therefore, higher vulnerability to the long-term effects of climate change, said S&P' Sustainable1's global head of research and methodology.