Public finance

The top suite of firms oversaw deals amounting to more than $139 billion par value across 58% of the market.

Nederland, Colorado, has a plan to issue revenue bonds to finance its purchase of a ski resort that would be turned into a year-round community asset.

Munis are "under pressure as elevated primary supply collides with lackluster seasonal reinvestment flows, leaving dealers heavy and buyers selective," said James Pruskowski, an investor and market strategist.

The Washington, D.C., City Council missed a deadline to approve a plan to build a $3.7 billion NFL stadium as supporters emerge touting the financial structure of the deal.

Atlanta's airport and the rapid transit system have the biggest anticipated capital plans over the next five years.

Two New York members of Congress called them "vulture funds" trying to get "blood out of a turnip" at the expense of Puerto Rico electricity customers.

As the market continues to contend with the surge in issuance, investors still have a significant amount of cash that can be put to work, said Jeremy Holtz, a portfolio manager at Income Research + Management.

Record contributions from public employers made up for below-expectation investment returns, according to a report published by the the Equable Institute.

Hays County will appeal a June 23 court ruling that voided a successful GO bond election while it explores issuing alternative debt to fund road projects.

"Most states do not expect to be able to keep key roads and bridges to a state of good repair," said David Draine, principal officer, public sector, retirement systems for the Pew Charitable Trusts. 

Once considered as a promising prospect for investors, "green" bonds have been plagued by defaults, a concern for those who study the underlying technologies.

A 2024 Illinois law loosened school bond restrictions, allowing districts to authorize some debt without an election. That caused a backlash in one district.

The top 10 underwriters for the first half of the year brought in more than $203 billion across nearly 2,000 issues.

As always, economists had disparate interpretations of the consumer price index, with none expecting a July rate cut. And tariff questions remain unanswered.

Prices for some bonds issued for Florida's express train have fallen sharply since Friday.

Puerto Rico's disputes with New Fortress Energy, the parent of the island's power plant operator, Genera PR, could spread to PREPA.

The city council voted unanimously to hold a special election on an 11-part GO bond proposition, which will be the largest in the city's history.

The hires "will help us further deepen our relationships," said the firm's head of public finance.

"The muni market seemed to ignore Treasuries [last] week, marching to its own beat," said Birch Creek strategists.

"We supported the approved rule change and are extremely disappointed that the MSRB is now proposing to halt the progress it had been making toward full and complete transparency in the municipal securities market," Dimensional Fund Advisors officials said in a letter.