Munis

The Virginia Governor's race could put Democrats in charge of all three branches in the Old Dominion, as Abigail Spanberger goes up against Winsome Earle-Sears who has floated tapping the state's rainy-day fund to prop up Medicaid.

Approval by Doña Ana County of $165 billion of industrial revenue bonds for a massive data center project is being challenged in state court.

New York boasts four of the top 10 issuers, followed by California and Alabama, each with two, and one apiece for Wisconsin and Massachusetts.

After Immigration and Customs Enforcement agents arrested its superintendent, Des Moines Public Schools is taking a $265 million GO bond measure to voters.

Contractors that have been absorbing cost increases in fixed-price projects may insist on the more flexible pricing built into progressive design-build delivery models.

Analyst and market strategist Jeff Lipton joins the team to deliver clarity and thoughtful guidance to a market witnessing evolving complexities — connecting policy moves, credit shifts and investment behavior to help our readers navigate what comes next.

Moody's cited the school's weakening liquidity levels in its downgrade.

Gilmore & Bell and Nixon Peabody were new entrants in the top 10, bumping Greenberg Traurig and Bracewell to the top 15.

Voters will decide the fate of 447 bond propositions totaling a record $83.7 billion with development-related districts accounting for most of the debt.

"BDA supports the proposal and we encourage the commission to approve it," its letter said.

The northern California school district has been struggling for years and on several occasions abandoned plans to consolidate schools, which rating agencies say might have shored up finances.

Jamie Doffermyre  has worked in munis at Truist Securities, Citi and Merrill Lynch.

Executing a successful bond issuance becomes simpler by combining long range planning, shorter-term timing and marshaling political support.

The approval of $650 million of revenue bonds comes in the wake of a recently filed petition seeking to subject the project to voter approval or delay.

With the advance refunding of tax-exempt munis still off the table, issuers are using existing market conditions to shed Build America Bonds and realize debt service savings through tender offers.

The city is gearing up to sell $252 million of general obligation bonds this year and $1.5 billion of revenue bonds in 2026 for a convention center project.

"I've never seen this level of hand wringing at the issuer level," said Matt Boles, managing director at RBC Capital Markets.

Higher interest rates are keeping arbitrage on the playing field as issuers try to play by the rules and still come out ahead.

Yakym praised the successful effort to preserve the tax exemption throughout One Big Beautiful Bill negotiations and encouraged market advocates to keep lobbying lawmakers.

Its triple-A bonds have recovered after cheapening earlier this year under a pressure campaign from the Trump administration.