Public finance

Projections for total bond volume in 2023 are at a high of $500 billion and a low of $302 billion, continuing 2022's lackluster growth.

Investors will be greeted Monday with a new-issue calendar estimated at $3.214 billion, the majority of which is a nearly $1.9 billion private activity P3 bond deal from Pennsylvania.

Arrick was formerly a managing director and healthcare group leader for S&P Global Ratings.

The borrowing, which will be backed by availability payments, will finance the first six of the state's nine-span Major Bridges P3 program.

Puerto Rico bankruptcy Judge Laura Taylor Swain approved the Oversight Board's request for five more days.

Refinitiv Lipper reported $46.912 million was added to municipal bond mutual funds for the week ending Wednesday after $1.394 billion of outflows the week prior.

Illinois' unfunded pension tab improved slightly in 2022 because 2021 returns still play a role in the actuarial assessment through smoothed investment returns.

Washington's new measure to clean up Puget Sound would require billions in borrowing over the next decade, including up to $14 billion in King County alone.

While the MSRB's compliance resources are not a rule and it has not been filed with the SEC, one can infer that following the same will be beneficial should the SEC inquire.  

"Yield curve inversion deepens and nears a four-decade low which is clearly setting up this economy for a recession that won't be a mild one," OANDA's Edward Moya said.

The bond issuance was one step of several taking place Tuesday stemming from the court approval of the HTA plan of adjustment, which reduces HTA's $6.4 billion of total claims by more than 80%.

Despite the volatility in equities and Treasuries, the backdrop for munis is very positive.

The White House has asked for an additional $37.3 billion to send to states and communities that faced natural disasters last year, including $600 million to Jackson, Mississippi, for its water crisis.

The RTA and its service boards are eyeing funding sources to avoid damaging service cuts and fare hikes as they exhaust federal COVID-19 pandemic relief.

It's not just the "right" thing to do; it's good for business, say the Freda Johnson Award winners, Massachusetts Treasurer Deborah Goldberg and Ballard Spahr's Emilie Ninan. They discuss how diversifying the industry is key to growth and success. Lynne Funk hosts. 

"Munis are poised to continue this rally into December as we can end 2022 on a high note and close out the worst-performing year on record for munis," said Jason Wong, vice president of municipals at AmeriVet Securities.

City officials discovered last week that an explanatory sentence required by state statute was left off the ballot. No bonds can be issued until the matter is rectified.

Entering into long-term leases for toll lanes in urban areas would free up transportation dollars for rural areas, said Gov. Bill Lee.

Investors will be greeted Monday with a new-issue calendar estimated at $5.893 billion.

Projected available capacity for the Permanent School Fund's bond guarantee program fell to $653 million at the end of October from $3.52 billion the previous month.