Investments

This week's new-issue supply needs to be "priced to sell to pique investor interest," said noted Nuveen's Daniel Close and Anders S. Persson.

The state did not rule out a future public-private partnership but said it's current focus is on public funds.

José Pérez Riera will fill the post that has been vacant for over three years.

The budget impasse is closely watched by cities, colleges and other government entities that receive federal aid.

Mainly attributable to high inflation and increasing interest rates, costs have been increasing for retail sized trades but remained steady for institutional sized trades.

Issuers in the Midwest sold $32.6 billion of debt spread over 1,223 deals in the first half, down from $40.5 billion a year earlier.

Tracey Manzi, senior investment strategist at Raymond James, talks with Chip Barnett about the fixed income markets today and how munis and Treasuries are doing. She says the number one issue clients are asking about is inflation. (20 minutes)

A state-by-state review of first half 2023 issuance in the Southwest.

The State Trunk Line Fund deal is the latest to fund the state's $3.5 billion bond authorization for highways. After this deal $700 million remains.

Continued pressure on the UST market coupled with the end of the summer reinvest may begin to test new issues as investors are able to be more selective.

Missouri's move to directly regulate asset managers on ESG-related matters marks a new front on the ESG battleground.

Gross underwriting spreads rose slightly for the first time in 2023 after both trending lower for nearly the last 15 years and hitting a 20-year low last year on increased competition, lower issuance and use of technology.

Healthcare and transportation had the biggest contraction in issuance volume.

Total volume in the first half of the year was $180.882 billion in 3,853 deals, down 17.1% from the $218.230 billion in 5,444 over the same period in 2022, according to Refinitiv data.

In comparison to the $17.689 billion of transactions completed in the first half of 2022, the top two municipal bond insurers wrapped $15.571 billion in 2023.

The eight-state region accounted for $38.5 billion in muni bond sales in the first half of 2023, with the lion's share coming from Texas.

A state-by-state review of first half 2023 issuance in the Northeast.

Issuer trepidation oer rates, volatility hold down bond volume

Florida led the nation in payroll growth in July, Wells Fargo said in a Friday report, which noted most of the upturn was in the healthcare and professional and the scientific and technical services sectors while leisure and hospitality shed jobs.

Peterson objected to the board's treatment of PREPA bondholders.