Munis

Estrada Hinojosa & Co., Stifel Nicolaus & Co. and CSG Advisors Incorporated moved into the top 10.

Most top 10 issuers for 1H are from New York and California, with four from New York and two from California.

Minor shuffling among the top municipal underwriters characterized the year-over-year differences, with Jefferies being the only newcomer to the top 10, replacing Robert W Baird & Co., which fell to 13th.

The MSRB has released a mid-year research report showing the sharp decline of taxable issuances, significant outflows from mutual funds and a particularly fruitful last few months for individual investors.

Arizona's law offers vouchers to all parents to choose where their children are educated at taxpayer expense. The impact on public school finances is uncertain.

West Virginia Sen. Joe Manchin’s wholesale refusal to back the climate and tax measures in Democrats’ Build Back Better bill deals a final blow to any hopes of passing any provisions of the muni agenda before November.

The Oklahoma Turnpike Authority is seeking approval from a state oversight council for bonds to begin funding an expansion project that faces two lawsuits.

The disclosure from the Hampton County School District in Varnville, South Carolina provided no details on the status of the bonds, but the form itself indicates there is an audit underway.

Following the Supreme Court ruling in Carson v. Makin, states with bans on using bond proceeds for religious purposes may be forced to amend such laws.

The three public finance professionals added to BondLink’s issuer relations team are part of the company’s ongoing initiative to help its network navigate a turbulent market.

City and state will issue municipal bonds for the domed stadium while lowering taxpayer liabilities.

Mary Colby, who retires from Charles Schwab Investment Management after 30 years in the muni industry, fought for more extensive disclosure for investors.

PennDOT could appeal to the state supreme court, but if not, the Pennsylvania P3 law may need to be rewritten.

For the first half of 2022, total issuance sits at $201.556 billion, down 14.5% from $235.836 billion in 2021. Taxables are down 46.8% to $31.024 billion from $58.338 billion.

The federal lawsuit brought by Philadelphia, San Diego and Baltimore on behalf of thousands of issuers is similar to a series of closely watched state whistleblower cases that claim banks manipulated interest rates on variable-rate bonds.

Largely attributable to Fed interest rate increase-led volatility, outstanding municipal bonds lost $300 billion of market value in the first quart of 2022, a Municipal Securities Rulemaking Board report said.

Disclosure around ESG-related risk factors to credit as well as for ESG-labeled bonds remains a mixed landscape that reflects the heterogenous nature of the muni market itself.

From disclosure to issuance labels, the Chicago finance team is shaping ESG practices that are top of mind for municipal market.

Plans to float a bond for a high school and other expansion projects grew out of a six-month planning process.

Most municipal securities trades are reported to the MSRB well under the current 15-minute rule, and it's unclear how a one-minute mandate would "benefit investors or increase transparency," the ASA said.