Munis

Legislation addressed expanding water supply, paying for flood damage, financing for capital projects, as well as a fiscal 2026 spending plan.

"It seems like hitting last year's volumes should be within the strike zone for the marketplace," said Kyle Javes, a managing director and head of municipal fixed income at Piper Sandler.

An Illinois park district became the only local general obligation credit to default in 2024, according to Municipal Market Analytics.

Washington, D.C. Mayor Muriel Bowser is delaying submitting her 2026 budget while unresolved budget cuts passed by the House in the continuing resolution and then amended by the Senate to repair the damage remain in limbo.

As muni advocates fight for the preservation of tax exemption, foreign investors are using the ASCE Infrastructure Report Card as evidence that increased privatization of assets is needed to improve the grades.

The S&P issuer rating upgrade marks the second for Oklahoma since September when Moody's raised its rating a notch to Aa1.

The effects of infrastructure spending and the need for more are coming into focus as the municipal bond community is dealing with a Congressional threat to eliminate the tax-exempt status of munis. 

The legislation would create a bond-financed reinsurance program to stabilize the homeowner's insurance market, which has been impacted by wildfires.

The Illinois Finance Authority will go to market with $850 million of revenue and refunding bonds for the Illinois Environmental Protection Agency next week.

Another big deal from a major borrower is moving forward after Rochester's City Council last week approved a conduit bond sale for the Mayo Clinic.