Public finance

"These opportunities will surface periodically throughout the year against heavy supply and the increasingly uncertain path for the Fed, evolving fiscal policy, and volatile Treasury market backdrop," said J.P. Morgan strategists.

The Indiana Municipal Power Agency will issue $268.3 million of power supply system revenue bonds with a mix of new money and refunding debt.

Brad Lander, the city comptroller, tallied the potential Trump administration threats to the city's federal funding, from infrastructure to hospitals.

The MSRB has a full slate of initiatives teed up, with an emphasis on modernizing its rulebook.

Heavy redemptions and coupon payments this month should help "stabilize" the market, said Barclays strategist Mikhail Foux.

California and federal officials  reached a $10 million settlement with the owners of a chain of non-profit health clinics and a laboratory in a case involving Medi-Cal and Medicare fraud.

The CFO's revenue estimate reveals a $169 million temporary boost and overall population growth while concerns arise over proposed cuts to the federal workforce.

BofA and Morgan Stanley left the Net-Zero Banking Alliance, but there was no word from the Texas attorney general on their status as bond underwriters in the state.

Nebraska's State Highway Commission on Dec. 6 unanimously authorized the issuance of bonds — a state first — to finance the completion of a highway corridor.

BRIDGE Housing Corp. is the first to publicly offer tax-exempt bonds to finance construction of a new development, a 224-unit project in Portland, Oregon.

Investors pulled more from municipal bond mutual funds in the final reporting week of 2024, but high-yield reverted to inflows to close out the year, adding to the sector's outperformance overall.

Westchester County, New York, plans to issue roughly $189 million in general obligation bonds, with Fitch Ratings giving the debt its top rating of AAA.

Although a new administration means policy uncertainty, most analysts see the economy growing above trend next year, although inflation will remain a concern.

The court has left in place its decision affirming the bondholders lien on net revenues.

Enviva's bankruptcy is the latest Chapter 11 bankruptcy where green private activity bonds are restructured to near zero.

While municipals have outperformed USTs on the whole in 2024, they will close December with losses. How taxables perform in early 2025 coupled with macroeconomic and Washington policy uncertainty have municipal market participants on edge for what lies ahead.

The muni market saw $507.585 billion of debt issued in 2024, up 31.8% from $385.061 in 2023. This surpasses the previous record of $484.601 billion in 2020 by more than $20 billion, per LSEG data.

Cuyahoga County and Cleveland will each pay $20 million to fund capital repairs at the venues that host Cleveland Cavaliers basketball and Guardians baseball.

The outage began at 5:30 a.m., leaving about 1.3 million of Puerto Rico's 1.4 million customers in the dark, according to Luma Energy, the private company that operates the system. Crews have begun restoring electricity in some areas, but it may take 24 to 48 hours to fully resume service, officials said.

Prolific debt issuance by Texas school districts, state issuers, and others drove muni volume to a state record in 2024, easily surpassing 2023's $59 billion.