Public finance

Loren McDougall will help Birch Creek launch high-yield-focused separately managed accounts.

Louisiana State Treasurer John Fleming indicated he is open to compromise on the nature of state oversight for the city, which may have trouble making payroll.

While the market navigates a surge in supply, another focus area has become elections and their potential to shift market demand, as several regional election results will likely garner greater attention over the next few months, said Kim Olsan, senior fixed income portfolio manager at NewSquare Capital.

An uncertain financial future partially due to federal government downsizing is compounding with nearly $6 billion of unfunded capital needs that will require Washington D.C. to lean on asset management and its strong credit rating to overcome the challenges.

The ruling comes as the municipal bond market closely watches the administration's effort to control federal infrastructure spending.

The federal budget bill lowered the percentage of private-activity bonds needed for affordable housing projects to qualify for 4% tax credits, but it hasn't been the boon expected.

Mikie Sherrill in New Jersey and Abigail Spanberger in Virginia both campaigned for governor on pocketbook issues — lowering costs, expanding child care and restoring stability after months of economic turbulence and a government shutdown that's stretched past five weeks.

A rundown of the largest bond referendums.

Tuesday saw a good slate of deals, including the acceleration of Ohio's $508.865 million of GOs and Austin's $419.035 million of electric utility system revenue refunding bonds.

Moody's revised the outlook on the Chicago Board of Education to stable from positive on Monday.

House Republicans hope to mark up the next surface transportation bill early next year.

Municipal bond insurance volume grew 17.7% year-over-year in the first three quarters of 2025, according to LSEG, outpacing the municipal market as a whole.

Concerns over the Texas city's future water supply after a desalination project was terminated, led to negative rating outlooks from Fitch and S&P.

Municipal water agencies are appealing to the Environmental Protection Agency about a slowdown in the Water Infrastructure Finance and Innovation Act loan program which along with bond sales, funds improvements to water and sewer infrastructure.

"Normalized supply, a supportive rate environment and favorable technicals propelled the municipal market to the best October performance [in decades]," said Robert J. Lind.

Attorneys for the Archdiocese said it is "inevitable" bondholders will be hit with a cramdown.

Meanwhile, the Brightline West train project has floated a possible debt exchange ahead of its own mandatory redemption later this month.

As climate and cybersecurity risks intensify, Jeff Lipton argues it's time for the legal community to lead a new era of municipal disclosure — tightening language, clarifying exposures, and ensuring investor confidence.

Next week's issuance is slated to be "substantial" — an estimated $13.1 billion — although that is expected to be met with "solid" November reinvestment capital, J.P. Morgan strategists said.