Investments

"The upgrade to Baa3 recognizes the city's fiscal stability under the current casino taxation format," as well as rapid debt defeasance, the rating agency said.

The Alaska IDEA's $75M notes were rated AA-plus by S&P, which cited strong financials.

The muni credit market has experienced headwinds this year, including "potential federal funding cuts, the impact of tariffs and sector-specific pressures," said Goldman Sachs strategists

A federal judge set oral arguments for Jan. 28 in the legal fight over the Metropolitan Transportation Authority's congestion pricing tolls in Manhattan.

Moody's Ratings upgraded the Rhode Island Airport Corporation's airport revenue bonds for Providence's T.F. Green International Airport to A3 from Baa1.

With Federal Reserve Chair Jerome Powell's term expiring, there is added uncertainty about monetary policy.

All eyes will be on the next surface transportation bill, which the House plans to unveil in early 2026.

The New York State Thruway Authority's $848 million refunding features a voluntary tender process.

The muni bond market stands at an "inflection point," said Nuveen strategists in a 2026 market outlook.

Klavan, who previously worked at Squire Patton Boggs, has represented governmental, conduit borrower, and underwriter clients on a wide range of projects.

Analyst remain positive about the economic outlook next year, although some have reservations and volatility is possible.

Monetary policy remains the key to the markets. The Federal Open Market Committee predicts one rate cut in 2026, but the panel will get a lot of data before

"A stagnant yield curve is resulting from supply having wound down and munis drawing steadiness from a likewise calm UST market," said Kim Olsan, senior fixed income portfolio manager at NewSquare Capital.

The municipal advisor area "remains a heavy focus of both the commission's Division of Examinations as well as the Division of Enforcement," Andrew Kintzinger, counsel at Hunton Andrews Kurth, said.

Enrollment began to drop in the middle of the school year as rumors about immigration raids circulated through Fresno, Aspen Public Schools told bond investors.

Chicago's city council passed its alternative budget over the weekend. Mayor Brandon Johnson hates it, but said he would not veto it.

It was a "confusing, volatile year, and the states face growing threats in 2026 and thereafter," said Matt Fabian, president of Municipal Market Analytics.

State tax policy is playing a role in the location of data centers which have turned into a lightning rod attracting debt financing, local opposition, and federal involvement.

The Kansas City Chiefs will leave Missouri for Kansas, where sales tax and revenue bonds will help finance a $3 billion domed stadium expected to open in 2031.

Unless there is a massive selloff in the next two weeks, there will not be a major spike in market participants using tax-loss harvesting through year-end, said Ben Barber, director of municipal bonds at Franklin Templeton.