Munis

Market Intelligence analyst Jeff Lipton warns that as ESSER-era support fades, shifting enrollment patterns, voucher expansion, tax-cut dynamics and rising costs are exposing credit stress in parts of the K-12 sector — making security selection and disclosure discipline more important in 2026 and beyond.

The risk of contagion to the rest of the high-yield market is limited, investors said.

The Middle East conflict sent oil prices higher, potentially benefitting energy producing states, although heightened inflation risks could hit budgets.

Two rating agencies dropped their Los Angeles Unified School District outlook to negative from stable.

The IRS has sent a material event notice to the Hennepin Schools Building Company regarding the tax-exempt status of revenue bonds issued in 2021based on the non-filing of IRS form 990.

Otero County said the state Supreme Court's decision protects bonds that are paid off with revenue generated under an agreement with the federal agency.

The city council of Kansas City approved an ordinance laying the groundwork for a $1.9 billion stadium for the Kansas City Royals.

Pricing deals on Monday, alerting investors weeks ahead of pricing, and crafting SMA-friendly structures are some of the ways dealers are promoting their deals in a flood of supply.

The rating agency's previous review of the Texas city resulted in downgrades in December over increased credit risk due to water supply woes.

Market Intelligence analyst Jeff Lipton argues that state bond bank debt remains one of the muni market's most conservative, well-secured allocations — and makes the case for expanding bond bank models to broaden infrastructure access for smaller and underserved local borrowers and for addressing growing funding needs brought about by shifting federal priorities.

Space Florida would own the assets and lease them to Project Jaguar, Space Florida's Ron Lau said.

The Virginia state legislature is weighing financial gains for local governments against billions of dollars in lost tax revenue and growing homeowner opposition to data centers.

The rating agency cited the city's sharply diminished liquidity and reserves.

Chicago will issue $875 million of second lien water revenue bonds in a deal with a possible tender component, Acting CFO Steven Mahr said.

RBC Capital Markets, Montague DeRose and Acacia Financial Group were new entrants into the top 10, bumping KNN Public Finance, Omnicap Group and Municipal Capital Markets Group.

The college's closure is the "tip of the higher ed iceberg," said a bond buyer.

Two Southern California school districts received upgrades from Moody's on Tuesday. Another district was affirmed.

The top underwriters saw some shuffling, with Stifel Nicolaus and Ramirez entering the top 10 and knocking Barclays and Siebert Williams Shank to 11th and 12th, respectively.

Superior, Wisconsin, officials are mulling a bond-financed acquisition of the water system currently owned by private firm Superior Water, Light, and Power.

Dealer inventories hit $8.8 billion in unsold variable rate bonds as of noon, Eastern, Tuesday, rising sharply over the past week, said Rick White, an independent consultant with more than 25 years in the industry.