Public finance

Transactions announced for the second quarter rose to 20 involving $13.3 billion of revenues from 15 in the first quarter and hit a milestone in more closely resembling pre-COVID-19 mergers and acquisition activity, according to Kaufman Hall's quarterly review.

Transit capital investment grants would be funded at the lowest level in decades under the House GOP 2024 draft bill.

The bond measure was approved by the Senate in late May but is on pause while negotiations are under way between the Senate, Assembly and the governor's team.

The SEC has adopted amendments that will increase minimum liquidity requirements, among other features but will only affect the muni market on the margins.

"The bond market finally got the relief from inflation it was hoping for," said Bryce Doty, senior vice president and senior portfolio manager at Sit Investment Associates. 

A recent paper reveals a combination of factors results in savings for issuers.

The proposed exchange — which extends the final maturity date by two decades but offers features like a tax levy with a direct intercept and trust estate — is the cornerstone of the consent agreement the city struck with a group of 2007 bondholders

The plaintiff that brought the case on behalf of the state says the banks inflated interest rates through a private, invitation-only VRDO index that influenced SIFMA's weekly index.

Treasurer Dale Folwell said the law protects retirees' money from being used for what he called Wall Street's "wacktivist" agenda.

Escalating costs, particularly for wages, could strain budgets or drain reserves, the rating agency said.

Livolsi, who worked at Citigroup for 25 years until the bank cut his position earlier this year, has been hired as a managing director of public finance marketing at Assured Guaranty.

With the third quarter officially under way, municipal bond experts say the tax-exempt market is poised for better performance and stronger market technicals ahead in the second half.

A new report finds that refunding tax-exempt debt with taxable bonds is more costly than waiting until the call date.

The May economic activity index showed an increase.

The ruling striking down affirmative action may bring a fresh headwind to the higher education space, which already faces soft enrollment trends.

Nick Venditti of Allspring Global Investments talks about evolving demand components, compelling yields and expectations for second half performance. Jessica Lerner hosts. (24 minutes)

This week should see a return to more normal supply, which might be a little higher than average for the year so far, said Daniel Solender, partner and director of tax-free fixed income at Lord Abbett & Co.

BofA Securities remained at the top of the list, with $22.948 billion, accounting for 13.4% of the market, but the rest of the top 10 saw some shuffling.

Municipal Capital Markets Group, Columbia Capital Management and Caine Mitter and Associates moved into the top 10, while Baker Tilly Municipal Advisors, Stifel Nicolaus & Co. and Swap Financial Group were ousted.

A federal bankruptcy judge will hold a hearing later this month on appointing an independent trustee for Legacy Cares or dismissing the case.