Investments

The current deal deluge is causing a minor yield pullback, but levels have been steadier than many probably thought, trader said.

Nuveen’s John Miller, the biggest backer of Fortress Investment Group Inc.’s Brightline passenger railroad in Florida, had been skeptical of plans to forge ahead swiftly with a multi-billion dollar venture to build a second line running between Southern California and Las Vegas.

Toll collections on the Garcon Point Bridge have been suspended since mid-September because of Hurricane Sally, pitting the bond trustee against the state of Florida again.

Options for local governments amid the coronavirus range from rainy-day withdrawals to pension payment delays, and renewed calls for shared services and mergers.

Favorable sale results compared to recent secondary trading levels prompted MMD to narrow Illinois' spreads on average by 10-30 basis points across the curve with the short-end seeing the biggest improvement.

CommonSpirit's deal marks the next phase in managing the combined debt porfolio of CHI and Dignity.

Municipals weakened as supply surged into the market, with AAA yields up by as much two basis points on longer-dated maturities.

The increasing focus on ESG and innovation in the municipal market continues to grow as investors and issuers navigate a changing global market for state and local government debt amid COVID-19.

The coronavirus pandemic took its toll on Hawaii's credit rating Monday as Fitch cuts the Aloha State's GOs to AA. NYC TFA announces $1.1B sale for next week.

Groups said regulation would not be helpful in encouraging more disclosure.

Arizona-based Banner Health adds another hospital to its system as it offers investors $607.6 million of taxable revenue bonds.

Five new muni professionals join Hilltop Securities’ debt and fixed income capital market teams; all of them came from Wells Fargo.

Managing Director, DTA

Senior Associate, Orrick

As the country and the market hurtle toward an uncertain future, the Rising Stars will be among those working to keep states and localities strong.

Weathering headwinds from the pandemic and energy industry turmoil, the Oklahoma Department of Transportation will price $193 million for highway projects.

Detroit's spreads widened from last deal in 2018 but interest rates were lower thanks to overall bond market conditions.

Collections were ahead of Oversight Board's May projections but behind figures for 2019.

The market will digest the once-again largest amount of new issues in 2020, including some higher-grade state GOs that have been quiet of late. Some participants said a back-up in rates could occur after a mostly quiet week.

Manhattan Institute recommendations include paring back “unusually generous” benefits and transitioning new employees toward a defined-contribution system.