Public finance

Munis have "struggled to get out of starting gate" to start 2024 as munis are returning negative 0.24% so far this year, said Jason Wong, vice president of municipals at AmeriVet Securities.

"I believe policy is set properly," Waller said. "It is restrictive and should continue to put downward pressure on demand to allow us to continue to see moderate inflation readings."

Bonds issued through the Westchester County Local Development Corp. will create a centralized base for the nonprofit's blood distribution and lab operations.

In its take on the governor's proposed budget, the Legislative Analyst's Office lowered its own deficit projection, but called the governor's revenue projections "optimistic."

The 2025 state budget would provided $2.4 billion to New York City to pay for the costs of caring for a rising influx of migrants, which includes taking $500 million from reserves.

The filing cuts the current 15 minutes standard reporting window down to one minute in what the MSRB describes as an effort to improve transparency.

Proceeds from the PMT green bond sale will be used to finance transit and commuter projects that have been approved in the N.Y. MTA's capital programs.

Tourism raised $35.2 billion in taxes in 2022, consisting of $18.9 billion in federal tax revenue, $8.1 billion in state tax revenue and $8.2 billion in local tax receipts, according to a report.

Coolidge joins Oppenheimer from UBS, which closed its public finance business in October.

The tax-exempt market could also see pressure due to "heavy issuance, anemic flows, and rate volatility," according to Barclays PLC.

Nelson Pérez Méndez will become the interim Secretary of the Treasury.

S&P's outlook revision to positive means there is a one-in-three chance the state could have its AA-plus rating upgraded to AAA over the next two years.

The firm settled charges with FINRA over failing to include the Non-Transaction Based Compensation indicator for 91,059 reports of municipal securities transactions over a five year period.

When it comes to sectors, Miller said he likes charter schools, healthcare, land-secured debt and some industrial revenue bond positions.

Interest rate risk, stagnant bond volume, loss of revenue and a looming presidential election top the industry's concerns for 2024.

The current property insurance crisis in several states may dramatically shorten the climate risk horizon for municipal investors. The municipal market's relaxed attitude toward climate risk may be seriously challenged in the years ahead.

The Chicago Board of Education on Wednesday saw its issuer rating and debt ratings from Moody's Investors Service elevated a notch to Ba1 from Ba2.

The top two municipal bond insurers wrapped $31.845 billion in 2023, up 10.4% from the $28.847 billion of deals in 2022, according to Refinitiv data.

The shortfall Gavin Newsom says his budget must close is $30 billion less than the deficit forecast by the Legislative Analyst's Office in November.

Affordable housing expert Marian Zucker retired on Dec. 1 as head of S&P Global Rating's housing group after over 40 years of working in the public and private sectors of the municipal bond industry.