Munis

Lawmakers could take a scalpel to certain bonds and sectors to penalize issuers for unrelated policies, like school vouchers or campus protests.

In this episode, Howard Cure, Director of Municipal Bond Research at Evercore Wealth Management, discusses the improving state of public pensions, the ongoing challenges faced by states like New Jersey and Illinois, and the risks associated with pension obligation bonds.

Issuers in the eight-state region sold $50.6 billion of bonds with Texas accounting for 65% of the volume.

Pent-up demand, dwindling federal aid and lower interest rates led to a 32% increase in municipal issuance in the first half of 2024.

Part of the surge in issuance came from issuers tapping the capital market after several years due to the inability to no longer postpone long-delayed projects and the drying up of pandemic aid.

Eduardo Ramos had faced insurance fraud charges that were unrelated to his work at the school district.

Missouri's Kansas City Public Schools is looking to take its modernization plan to voters and seek approval for a $474 million GO bond measure next April.

Proposed guidelines for federal tax credits could undermine the effort to build a clean hydrogen market, critics say.

The state plans to price the bonds in early October.

Salt Lake City School District is seeking $730 million of bonds and Salt Lake County is asking for $507 million of bonds at the Nov. 5 general election.

Underwriting spreads rose to $7.11 in the first half of 2024 from $3.70 in the first half of 2023.

The state has selected a stretch of Interstate 24 between Nashville and Murfreesboro to be its first "Choice Lane," an optional toll lane to bypass congestion.

The top five bond financings came in above $1 billion.

Prince George's County Public Schools in Maryland is leveraging the P3 process to build eight new schools while issuing $663 million of taxable bonds.

The state's year-old rules ban broker-dealers and investment advisors from using non-financial criteria in investment strategies.

Detroit-based Wayne State University will return to market with $31.7 million of general revenue refunding bonds, with proceeds refunding outstanding bonds.

Municipal bond market participants say a proposed constitutional amendment targeting property tax revenue would increase borrowing costs and lead to litigation.

The private Massachusetts college is partnering with the Collegiate Housing Foundation to address a good problem for a Northeast school to have: rising demand.

Texas' largest school district, which was taken over by the state last year, is seeking voter approval for bonds for the first time since 2012.

In an environment characterized by dwindling enrollment, slowing revenues, and the end of COVID-19 federal aid, small private universities are struggling to remain afloat.