Investments

The number of municipal bond delinquencies declined in the third quarter, despite some dramatic outliers that Moody's Investors Service characterized as idiosyncratic in a report released Monday.

While the FOMC statement will likely have very few changes, the post-minutes release press conference will be the wildcard.

The deal has new-money and refunding components and is expected to hit the market in a negotiated sale the week of Nov. 13.

The data indicates that 2023 could be "the potential start of a long-feared trend toward more higher ed impairments and, possibly, defaults," MMA's weekly Outlook report said.

October's total volume rose 29.3% to $37.156 billion in 661 issues from $28.738 billion in 614 issues a year earlier. New-money grew more than 30% while refundings were up by nearly 75%.

The rating agency cited ongoing positive financial and enplanement trends at the airport, which is planning a refunding.

The whistleblower who brought the case, Minnesota-based municipal advisor Johan Rosenberg, will receive $14.4 million under the deal.

The relief means little for traditional municipal issuers but will have an effect on some conduit borrowers and issuers "adjacent" to the municipal market.

Bond Buyer Senior Reporter Keeley Webster shares an interview with California Treasurer Fiona Ma on her run for lieutenant governor as a prelude to a fireside chat Wells Fargo Director Julia Kim conducted with the state treasurer at The Bond Buyer's California Public Finance conference.

The board askeds the judge to dismiss objections that claim its plan of adjustment is unconfirmable.

Another month of muni losses "may spark additional sale pressure as some investors throw in the towel, but we suspect any further weakness would represent a strong entry point for [investment grade] buyers," Birch Creek Capital said in a weekly report.

The application criteria for the grant programs handcuffs $5.5 billion in transportation spending to progressive priorities," said Texas GOP Sen. Ted Cruz.

Public schools account for most of the $28.48 billion of bonds on Texas ballots Nov. 7.

This could be the first time the bond market has posted three consecutive negative total return years, according to John Hancock Investment Management Co-Chief Investment Strategist Matt Miskin.

States use tax proceeds in a way that appeals to voters because recreational marijuana is often legalized through a referendum process.

Gov. Kathy Hochul this week signed into law a trio of bills passed by New York's Legislature leveraging state resources to accelerate affordable housing in New York City.

If Treasury rates become "more stabilized," it provides "a good reason to be somewhat constructive on munis for a while," BofA Global Research said in a report.

The Biden administration announces new emphasis on transit-oriented development.

The tool will deliver users historical deal-based spreads to help in the new-issue market as well as find potential refunding opportunities, said SOLVE's Gregg Bienstock, senior vice president and group head of municipal markets.

The Grand River Dam Authority, the state's largest public power utility, is expected to start issuing the debt later this year.