Munis

The calendar next week largely continues "the elevated pace of primary market volume seen since May, against a backdrop of broadly supportive fund flows (LSEG inflows for eight consecutive weeks), somewhat better dealer positions (although still heavy), mid-August reinvestment to spend, but lighter late summer attendance," said J.P. Morgan strategists led by Peter DeGroot.

Up to $2.065 billion of taxable notes could be issued to finance termination of a public-private partnership that built a toll lane project in Harris County.

New facilities should reduce and ultimately eliminate the authority's current $5 million a month operating loss.

Nevada law currently bans privately financed toll roads, but there is precedent for exemptions.

Issuers in five Far West states increased their borrowing the first half of the year, while four saw sizable decreases.

The bonds, expected to be rated Aa2 by Moody's, will will be among the earliest general obligation bonds sold by Kentucky school districts since the state passed a law in April allowing such debt by school districts.

The region's municipal bond volume grew by 42.4%, outpacing the nationwide 32% increase in a first-half marked by gas prepay deals and Brightline's big sale.

Charter school bond issuance have leveled off as issuers consider labels and alternative structures.

The rating agency estimated the cost of college and university capital needs at $750 billion to $950 billion over the next decade.

Midwest bond sales ticked 1.8% higher by volume in the first half of 2024, to $34.377 billion as the region missed out on the big gains in volume nationwide.

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.