Public finance

"The identity of the marginal buyer may be shifting, and with that the market's valuation of structure and liquidity," said Matt Fabian, a partner at Municipal Market Analytics.

Tax experts are looking past the election for clues about the fate of the Tax Cuts and Jobs Act, which is approaching its sunset and includes the controversial SALT cap.

Public pension benefit improvements could put credit pressure on states that enact them, the rating agency said this week.

In FY 2025, the Securities and Exchange Commission's Examination Division will be closely monitoring for compliance with MSRB Rule G-42 on the core standards of municipal advisors, in addition to enforcing the T+1 settlement cycle.

As technology options grow, firms are looking for ways to streamline and scale workflows.

A constitutional amendment would allow municipalities to approve districts that could issue bonds to finance infrastructure for housing developments.

The top five bond financings came in above $7 billion.

Demand for munis remains "insatiable," said Daryl Clements, a municipal portfolio manager at AllianceBernstein.

Mega projects in Boston and Philadelphia top the list.

Christopher Roberts joins the firm as a managing director, Joey Dierker as an associate director, Soledad Mancias as a municipal underwriter, and Steve Basset as a director.

Despite this week's underperformance, exempt investment-grade munis continue to outperform taxable sectors.

The longtime public finance stalwart, known for building out S&P's public finance practice and working on virtually every big public finance project of the past forty or so years, has passed away at 89.

Tourism Development Tax, sales tax, and Professional Sports Facilities tax and revenue refunding bonds were upgraded, impacting $628 million of debt.

The public-private partnership that took over four Puerto Rico toll roads following the territory's bankruptcy is gearing up to sell municipal bonds.

As federal funding dries up, cites are searching for new funding sources.

A preliminary 9.3% return on investments in the year ending June 30 brought CalPERS' funded ratio to 75%, the public pension fund reported.

Mulry's career in public finance spanned nearly 40 years. He is remembered as a dedicated and generous colleague and friend.

"Buyer interest comes as forward supply is projected around $20 billion (the high water mark over the last year) while offsetting calls and maturities sit about $2 billion lower, creating a net supply surplus," said Kim Olsan, a senior fixed income portfolio manager at NewSquare Capital.

Craig Brothers, partner, portfolio manager and co-head of fixed income strategy for Bel Air Investments, joins Bond Buyer senior reporter Keeley Webster and discusses why his firm, primarily invested in California debt, has veered away from California GOs and public works revenue bonds in favor of agency, school district and local government debt.

The city faces no monetary penalty or monitorship in the final judgment in what those involved are calling an unprecedented move for SEC litigation.