Primary bond market

The hospital system will sell $250 million of bonds using the Michigan Finance Authority as conduit.

The top muni bond counsel firms accounted for $74.79 billion in 1,783 transactions in the first quarter of 2019, up from $61.46 billion in 1,655 deals a year earlier. Although overall business was up, most of the top firms didn't quite achieve higher totals than they had during the same time last year.

PFM, Acacia and Piper move up in FA rankings, as deal volume handled by the top firms rose 18.6% from last year's depressed level to $64.32 billion.

Municipal bond insurers are running close to last year's clip through the first three months of 2019, as the two active insurers wrapped $3.61 billion in 288 transactions. That compares with $3.61 billion 257 deals during the same period last year. The insurance penetration rate dipped to 4.8% from 5.9% at the end of the first quarter of last year.

The top muni underwriters counsel rankings were all shaken up, as business spiked to $48.69 billion from $41.94 billion at this point last year.

A few taxable deals came into a weaker market today, highlighting the significance of what issuers can tap into by issuing taxable munis.

The airport authority in Ohio is using capital facility charges to back bonds for the facility.

The day after tax day did not diminish demand for munis as customer inquiry, especially on the short end, was strong.

Volume for the week is estimated at $3.6 billion with a few notable deals slated for sale.

California water bonds highlight the light holiday-week calendar.

Municipal supply will slip in the holiday-shortened trading week, but that doesn't mean there won't be things to watch for in the market.

In the week ended April 11, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, was unchanged from 3.88% the previous week.

All eyes were on the enormous California offering. PREPA bonds have risen this month as investors anticipate a deal to restructure its debt is gaining support.

Peter Block addresses the latest trends, developments, and expectations for the municipal market in 2019 and beyond in The Bond Buyer’s latest podcast with the managing director of credit and strategy at Ramirez & Co. John Hallacy and Christine Albano host.

Retail investors got first shot at California’s $2 billion GO deal Wednesday.

Underwriters circulated a premarketing wire on California’s $2 billion GOs as the NYC water authority deal came to market.

Ramirez & Co. makes additions in big markets of Texas and New York.

New York City’s water authority kicked off the week by offering bonds to individual investors on Monday.

Refundings of recession-era stimulus bonds are driving California's robust sales volume.

The standalone grant anticipation revenue vehicle bond deal is the first of several tranches the state will issue over the next few years.