Public finance

With no rate change expected, analysts look at Fed chair nominee Kevin Warsh and how investors should position.

Three universities in the Northeast found a market for their bonds despite larger headwinds for the higher education sector in the region.

While the state is most concerned about stopping the fires, credit rating agencies are monitoring the situation.

"What the market's really trying to figure out is what that Warsh regime is going to mean," said Tom Kozlik of HilltopSecurities. "Folks are really trying to position their mindsets, position their portfolios."

"Investors typically start positioning for heavy summer redemptions in summer, so the market typically performs well enough through the first half of June and we do not believe that this year will be any different," Barclays strategists said.

The state's expectation of a deficit in the coming biennium budget was cited in the outlook revision.

Jay Leno, longtime comedian, TV host and car enthusiast, promoted an upcoming municipal bond deal in a video for Hollywood Burbank Airport.

Researchers examined more than 580,000 municipal bond issues and say the data shows communities with higher wildfire risk pay higher interest rates.

It was another "topsy-turvy day" for munis, said Kim Olsan, senior fixed income portfolio manager at NewSquare Capital. Munis have been weaker on the front end for a few days, leading to a slight inversion of the curve, starting around the 2028 maturities, Olsan said.

Market Intelligence analyst Jeff Lipton revisits the taxable muni market's expansion from the 1986 tax reforms through the BAB era, showing how call features, policy changes and rate cycles influence issuance, and why taxable munis remain a flexible tool for issuers and investors.

The state Supreme Court's ruling comes in a case that targeted the 2022 issuance of nearly $687 million of ratepayer-backed bonds for a utility company.

From Jan. 1, 2020 through mid April of this year, borrowers using conduit issuers accounted 87% of payment defaults by number in the muni market, Municipal Market Analytics' Matt Fabian said.

High-yield bond trading is "very bursty," with a lot of information at once and then nothing, said Matt Smith, founder and CEO of Spline Data.

The New Orleans Revenue Estimating Conference approved the new forecast Wednesday.

Ostdiek comes full circle with the return to her original professional home.

The authority that runs the Dulles airport plans bond sales and public private partnerships to keep the facility competitive amid Trump administration interest.

Mohammed Murad, head of credit research for PT Asset Management, said the ceasefire extension "possibly offers less clues as to what a permanent resolution may look like."

The city council amended an ordinance dealing with police interaction with federal immigration enforcement to prevent a $114 million funding loss.

Munivestor aims to help municipal governments by allowing them to raise capital directly from investors of all sizes in concert with advisors and regulated market partners.

The PFA owns nine bond-financed credits, ranging from proton cancer therapy centers to student housing. All but one are in default.