Investments

Indiana's Senate Enrolled Act 1 raises questions about local income tax-backed bonds, appearing to lack protections for bondholders as currently written.

"The trend of heavy issuance that began last year has continued in the first half of 2025, surpassing even our rather optimistic expectations," said Barclays strategists Mikhail Foux, Grace Cen and Francisco San Emeterio.

The selloff highlights the lack of accurate pricing and credit information across the speculative-grade muni market.

Some market participants said they were sad to see EMMA Labs go.

The Metropolitan Transportation Authority's congestion pricing tolls not only reduced traffic congestion in Manhattan, but also in New Jersey, a report says.

New guidelines require local governments to receive the state's comptroller's approval before issuing debt with variable interest rates, put options, or interest rate reset options.

In this panel from The Bond Buyer's recent Southeast Public Finance event, top public finance officials from Atlanta, Charlotte, Nashville, Alabama, and Florida share how they evaluate bankers, bond counsel, and municipal advisors, and what makes a pitch fall flat.

To borrow an additional $70 billion, Mamdani would need state approval, said Howard Cure, director of municipal bond research at Evercore Wealth Management.

The $247.75 million of unrated tax-exempt bonds will finance public infrastructure and projects for an initial development on state-owned land.

So far, the financial market reaction has been limited, said Paul Christopher, head of global investment strategy at Wells Fargo Investment Institute.