Investments

The push for bills to punish companies, including municipal bond underwriters, for their fossil fuel or firearm policies continues in Arizona and Oklahoma.

"The market seems to be coalescing around the view that these historically rich ratios can be sustained through February, but that the market technical becomes far less favorable in March and April," said Birch Creek Capital strategists in a report.

The deal comes following several toll increases — which have bolstered the authority's credit — that have also compelled a state senator to introduce a bill that would dissolve the authority.

The legislation comes as the U.S. and Florida saw a record number of rocket launches last year.

Brandon Comer and his firm Comer Capital Group have to pay the sum as part of a final judgment reached in federal court in Illinois.

Interest rates and federal elections hang heavy over the industry and municipal analysts believe certain muni sectors or subsectors will experience credit deterioration.

The Vermont state auditor questioned the city of Burlington's use of premium bonds in a tax increment finance district deal.

BofA expects muni yields to continue to move up and credit spreads to narrow "in a slow and gentle fashion" in February.

The inflows into muni mutual funds mark a reversal from 2022 and 2023.

Barclays joins UBS and Citigroup in being prohibited from underwriting state and local government bonds under Texas laws aimed at protecting the fossil fuel and firearms industries.

Stronger-than-expected economic numbers could boost bond issuance.

LSEG Lipper reported Thursday that investors added $210.6 million to municipal bond mutual funds for the week ending Wednesday — the third consecutive week — after inflows of $898 million the week prior.

The ratings agency cited federal support and military spending on the island as keys to its decision.

The grants are among the most competitive in the Infrastructure Investment and Jobs Act.

In her State of the County address, Mayor Daniella Levine Cava unveiled plans to invest in housing, septic to sewer conversions, flood prevention, parks and other infrastructure.

As ridership remains low, investors are closely watching for new funding streams and credits like the MTA's planned congestion tax-backed bonds.

A letter co-sgned by Bond Dealers of America and the Securities Industry and Financial Markets Association urges the Municipal Securities Rulemaking Board to institute its 2024 rate card, for fear that reverting back to 2023 levels would be disruptive for dealers.

Inflation and mandate pressures are key factors that moved the outlook lower.

Despite fixed-income seeing losses this month, Jeff Lipton, managing director of credit research at Oppenheimer, believes "a performance sea change is nearing."

Mayor John Whitmire expressed confidence in Melissa Dubowski's ability to guide the city through its financial challenges.