Public finance

A state-by-state review of 2024 midyear issuance in the Midwest.

"Investor reception will remain the ultimate arbiter of muni performance and … the current state of the tax-exempt space to be well-positioned, even though munis are likely to continue to underperform USTs," said Jeff Lipton, a research analyst and market strategist.

Clyde, Texas, missed payments on certificates of participation due Aug. 1, the same day it declared a water emergency. Bond insurers are paying the holders.

The estimated $100 million raised annually from the 0.5% tax increase on the Nov. 5 ballot could be used to back bonds for affordable housing.

We know that visibility is more than just being seen — it's about influence, credibility and opportunity. For women in public finance, gaining visibility can be a game-changer.

In this episode, Howard Cure, Director of Municipal Bond Research at Evercore Wealth Management, discusses the improving state of public pensions, the ongoing challenges faced by states like New Jersey and Illinois, and the risks associated with pension obligation bonds.

A state-by-state review of 2024 midyear issuance in the Southwest.

A state-by-state review of 2024 midyear issuance in the Northeast.

At $1.8 billion, the tax-exempt and taxable deal is the largest on the calendar this week and it's the latest offering from the city since a $1.2 billion refunding issuance in July. 

As investors contemplate rate policy for the remainder of 2024, "there have been a few strategies from which to choose to boost yield — short positioning, curve extension and credit quality," noted Kim Olsan, senior fixed-income portfolio manager at NewSquare Capital.

The possibility of moving stalled housing bills forward combined with promises of down payment assistance is offering hope to housing advocates.

Loop Capital's Jim Reynolds was among the nine private and public entities that signed a pledge to help bring in more historically underutilized businesses on construction projects.

Pent-up demand, dwindling federal aid and lower interest rates led to a 32% increase in municipal issuance in the first half of 2024.

New sales of tax-exempt bonds in California have been gobbled up by buyers looking to shield income from the state's high taxes and to lock in yields.

The measure would have requested $20 billion of bond authority from voters in nine San Francisco-area counties; backers said they would try in a later year.

Municipal bond insurers wrapped $18.592 billion in the first half of 2024, a 19.5% increase from the $15.561 billion insured in the first half of 2023, according to LSEG data.

Barclays rate strategists believe the 10-year part of the Treasury curve has room to cheapen. "In that case, tax-exempts will likely not only follow, but underperform."

Eduardo Ramos had faced insurance fraud charges that were unrelated to his work at the school district.

Proposed guidelines for federal tax credits could undermine the effort to build a clean hydrogen market, critics say.

The state plans to price the bonds in early October.