Munis

Through three quarters municipal bond issuers are coming to market more frequently than they did during the same period of 2018, as low rates and yields are too good to pass up and demand for muni bonds is closing in on an all-time high.

Municipal underwriters saw increased business, as demand for muni bonds jumped through the roof. Top muni underwriters accounted for $267.51 billion in 7,310 deals, up from $239.33 billion in 6,406 transactions in the first nine months of 2018.

Greater Nanticoke Area School District has posted a legal notice of plans to float bonds in an amount "not to exceed" $17.5 million, to be used for "advanced refunding of the school district's outstanding general obligation bond." The move is projected to save about $600,000.

Municipal advisors can begin taking their principal exams in November.

Fitch Ratings upgraded the district to BB-plus from BB-minus.

Fitch Ratings downgraded about $5 billino of AMP project revenue bonds.

The Big Apple was a big presence in the market on Thursday as it sold almost $1 billion of taxable and tax-exempt general obligation bonds.

Judge John Cooper’s decision could set the stage for an appeal in the Miami-Dade County Expressway Authority’s litigation.

The Securities and Exchange Commission is seeking comment on exemptive relief for municipal advisors in some activities in private placement deals, eliciting fierce resistance from broker-dealer groups.

Bankrupt investor-owned utility PG&E was a factor in many of the bills approved to deal with the state's wildfire risk.

Municipal bonds were on the move Wednesday as two big issuers came to market with over $1 billion of transportation bonds.

Assured Guaranty and two other bond insurers recently petitioned the Supreme Court to review an appellate court ruling involving the Puerto Rico Highways and Transportation Authority’s special revenue bonds.

The legal teams for Baltimore and Philadelphia asked the court to reject the banks’ plausibility argument as well as their claim that the suit is barred by a four-year statute of limitations.

The college, using the state of Ohio as its conduit issuer, will price $49 million of bonds.

Oakland Park will issue green water and sewer refunding bonds that carry S&P Global Ratings’ highest Green Evaluation score of E1.

The Lower Colorado River Authority will price $169.5 million of revenue bonds.

Municipal bond volume continues to accelerate, closing out the month of September 39.1% higher and the quarter 17.8% higher than a year earlier, as issuers flocked to market with taxable deals.

As we enter the fourth quarter, municipals continue their remarkable performance with the market continuing to follow trends of demand outstripping supply and inflows into the asset class.

The first phase of the American Dream retail and entertainment hub next to the New Jersey Turnpike will open on Oct. 25.

The continued low interest rate environment is compelling more cities to explore issuing the bonds.