Investments

The company hopes to come to market after completing negotiations on $6 billion of senior bank financing.

Some Midwest states, notably Michigan and Ohio, dipped well below a national average that saw roughly two of every three school bond measures approved in November.

The top 10 underwriters for healthcare issuance accounted for $20.056 billion in the first half of 2024.

The top 10 financial advisors for housing deals accounted for $12.595 billion in the first half of 2024.

As the largest private-activity bond issuance and first investment-grade debt for American high-speed rail, this transaction, which also won Deal of the Year in the Innovative Financing category, opens new avenues for large-scale infrastructure projects in a traditionally underserved financing sector.

Muni investors hope "any move toward higher yields is steady, even dignified, such that it doesn't catalyze an outflow cycle that would countervail year-to-date total returns just before we close out the year," said Vikram Rai, head of municipal strategy at Wells Fargo.

The trifecta of sports team exits, homelessness and city leadership turnover has placed the San Francisco Bay area city on shaky fiscal ground.

The session, which begins Jan. 14 with a more-conservative Republican majority, could bring additional anti-ESG and DEI legislation.

Munis ended November in the black with the asset class seeing gains of 1.73% for the month, pushing year-to-date returns to 2.55%.

After losing its first appeal, the Puerto Rico Oversight Board initiated a second appeal with the First Circuit Court of Appeals.

The product is designed to compartmentalize information and provide a unified system to monitor bank activities, forecast cash inflows and outflows, and prevent fraud.

A bankrupt city's only asset is mired in its history of corruption and a statewide fight over utilities privatization.

With an estimated $13 billion calendar on tap, demand for paper will be bolstered by the $16 billion of redemptions coming Monday while mutual fund inflows, this week at about $560 million and concentrated in the long-end, signal solid investor support. Munis are returning 1.73% in November as of Friday.

The Investment Company Institute reported $1.221 billion of inflows into municipal bond mutual funds for the week ending Nov. 20. Exchange-traded funds saw inflows of $836 million.

Bondholders are prepared to loan up to $22 million to the hospital.

November's total is below the 10-year average of $32.278 billion and is the lowest monthly total this year. The year's total is about $25 billion short of $500 billion.

A complex refinancing continues Chicago's break from past scoop-and-toss deals but front-loads savings to help balance its budget.

"Earlier this month, Chair [Jerome] Powell noted that there was no 'hurry' to cut rates," noted BMO Senior Economist Priscilla Thiagamoorthy. The minutes, she noted, "confirm a broad support for taking a more cautious approach in easing monetary policy."

After lowering the city's issuer rating a notch to A1, the rating agency warned of a possible further downgrade or withdrawal of the rating.