Public finance

Interest rates and federal elections hang heavy over the industry and municipal analysts believe certain muni sectors or subsectors will experience credit deterioration.

The Vermont state auditor questioned the city of Burlington's use of premium bonds in a tax increment finance district deal.

BofA expects muni yields to continue to move up and credit spreads to narrow "in a slow and gentle fashion" in February.

The inflows into muni mutual funds mark a reversal from 2022 and 2023.

Barclays joins UBS and Citigroup in being prohibited from underwriting state and local government bonds under Texas laws aimed at protecting the fossil fuel and firearms industries.

Stronger-than-expected economic numbers could boost bond issuance.

LSEG Lipper reported Thursday that investors added $210.6 million to municipal bond mutual funds for the week ending Wednesday — the third consecutive week — after inflows of $898 million the week prior.

The ratings agency cited federal support and military spending on the island as keys to its decision.

The grants are among the most competitive in the Infrastructure Investment and Jobs Act.

In her State of the County address, Mayor Daniella Levine Cava unveiled plans to invest in housing, septic to sewer conversions, flood prevention, parks and other infrastructure.

As ridership remains low, investors are closely watching for new funding streams and credits like the MTA's planned congestion tax-backed bonds.

A letter co-sgned by Bond Dealers of America and the Securities Industry and Financial Markets Association urges the Municipal Securities Rulemaking Board to institute its 2024 rate card, for fear that reverting back to 2023 levels would be disruptive for dealers.

Inflation and mandate pressures are key factors that moved the outlook lower.

Despite fixed-income seeing losses this month, Jeff Lipton, managing director of credit research at Oppenheimer, believes "a performance sea change is nearing."

Mayor John Whitmire expressed confidence in Melissa Dubowski's ability to guide the city through its financial challenges.

The troubled P3 project has been behind schedule and over budget.

Wisconsin and Minnesota have jointly received a $1.05 billion grant from the U.S. Department of Transportation to replace the aging Blatnik Bridge.

The trend toward paying down debt, as opposed to tender offers or refundings, to save money cuts across Red state/Blue state lines. New Jersey retired $500 million of debt to produce $160 million of savings.

The consolidation upheld by the state Supreme Court promises efficiencies, but the hundreds of local funds involved still face structural challenges.

After the year-end rally, "2024 bond investors have been reluctant buyers, prices creeping lower perhaps until the data and the Fed's next steps are more clear," said Matt Fabian, partner at Municipal Market Analytics.