Public finance

The FOMC's decision to "hold rates steady while signaling only two cuts this year was a subtle but powerful shift," said James Pruskowski, CIO at 16Rock Asset Management.

Florida lawmakers passed a state budget and approved plans to pay off $830 million of debt in fiscal 2026 in advance of maturity.

The rock-bottom prices show the risks of a high-yield market where liquidity is famously limited.

A colleague called the Florida-based lawyer "an institution" in the public finance community

Under the agreement, the NBA's Thunder will play for at least 25 years in an arena that will be largely financed by a sales tax revenue bond sale later this year.

A growing rainy-day fund helped Alaska win a Moody's Ratings upgrade, bringing the state's issuer and general obligation bond ratings to Aa2 from Aa3.

Deals from two small Michigan cities show how bond-funded improvements are used to keep up with water infrastructure replacement needs.

"We expect no change to rates but [for the Federal Open Market Committee] to continue to signal that rate cuts should still be expected," said Cooper Howard, a fixed income strategist at Charles Schwab.

Hillman is part of a spate of hirings deepening the firm's presence in certain regions and the transportation sector. 

In the first quarter of this year, 18.6% of new-issue volume in the market was traded electronically, up from 17.3% last year, according to data from Coalition Greenwich.