Public finance

Issuer trepidation oer rates, volatility hold down bond volume

Florida led the nation in payroll growth in July, Wells Fargo said in a Friday report, which noted most of the upturn was in the healthcare and professional and the scientific and technical services sectors while leisure and hospitality shed jobs.

Peterson objected to the board's treatment of PREPA bondholders.

Tom Dundon, the owner of the Hurricanes, said the work would "transform PNC Arena into a year-round destination for residents."

"Bearish Treasury moves have kept some pressure on the muni market and prevented an attempt to rally during the summer season when large redemptions trump issuance," BofA Global Research said in a report.

GoldenTree Asset Management noted the judge in Sept. 29, 2022, had demanded "meaningful deadlines" in the bankruptcy.

The new California Housing Finance Agency credit pools multifamily housing loans.

Calls the save the tax exemption are sounding as rising U.S. debt to GDP ratios and increased interest rates could point to austerity measures in the near future.

New York deals dominated the top ranks of regional issuers in the first half of 2023 even as supply sank around the Northeast and around the country.

Refinitiv Lipper reported $264.046 million of outflows from municipal bond mutual funds for the week ending Wednesday after $278.559 million of inflows the previous week.

Ongoing strikes by actors and writers pose a risk for next year's Oscars ceremony, which generates significant revenue that helps pay off the bonds. 

Recent laws extend the statute of limitations for child sexual abuse victims to file civil claims, impacting California school districts and counties.

Bondholders retain the right to argue on appeal that they perfected their liens on revenues and funds.

The Illinois Attorney General maintains it is unclear whether the state was even defrauded by the Wall Street banks that are accused of rate-rigging by a whistleblower.

For the three-month period ending June 30, the fund's investments returned about 3.08%.

Municipal CUSIP request volume decreased in July on a year-over-year basis, following an increase in June, according to CUSIP Global Services.

The $705.4 million of Metropolitan Government of Nashville and Davidson County bonds will be combined with $500 million from the state government.

The decision to cut Build America Bond subsidies marks a "multi-billion-dollar broken promise by the federal government," said public power agencies that have sued the United States.

The affirmation reflects Florida's "sound financial management practices, high gap-closing capacity and reserves, and low long-term liability," Fitch said.

The board named Jamie Asbury, the district's energy manager, to the top slot after an eight-month search.