Public finance

Investors pulled more from municipal bond mutual funds as the Investment Company Institute on Wednesday reported $4.786 billion of outflows, up from $4.459 billion of outflows in the previous week.

The the $389.495 million of tax-exempts were sold late last month to help fund construction of the Broward County Convention Center Headquarters Hotel.

States need to balance the growing concerns about oil prices with the need for infrastructure, Secretary of Transportation Pete Buttigieg said.

Denver will head to the municipal market next week with its biggest new money general obligation bond sale ever at $366.4 million.

Apollo will make an equity and credit investment that will significantly increase SWS’s underwriting capacity for municipal and corporate debt, as well as equity offerings, the firms said.

The March consumer price index offered little to deter the Federal Reserve from its aggressive plans, but markets saw it as a positive, having feared an upside miss.

The underwriters filed a defense to the court earlier this month and analysts are skeptical of MBIA’s chances of prevailing.

"If you clean it, they will come," says an EPA official as new federal environmental funding helps cities revamp old industrial areas into new neighborhoods.

Triple-A yields continue to rise, with the two-year muni just below 2%, the five well above and the 10-year approaching 2.5%.

The measure would cut the number of balanced budgets needed for the island to achieve fiscal independence.

Supply for the holiday-shortened week is $4.8 billion. Municipals performed the worst since 1980 in the first quarter of 2022, but some analysts see the pain subsiding.

A blackout that affected almost all of Puerto Rico Wednesday still had more than half of Puerto Rico Electric Power Agency customers without electricity Friday.

A mostly tax-exempt deal will let the District Department of Transportation to put energy efficient LEDs in its 75,000 streetlights.

Investors pulled more from municipal bond mutual funds in the latest week, with Refinitiv Lipper reporting $3.247 billion of outflows, of that $1 billion was high-yield. ETFs are still seeing inflows.

The university will decide on a final structure for a $500 million sale that could go as long as 100 years at the time of pricing, which is expected next week.

Competitive grant programs like INFRA can help address the country's infrastructure needs, but it's important that states and cities understand how to apply.

Investors pulled more from municipal bond mutual funds as the Investment Company Institute reported $4.5 billion of outflows in the week ending March 30.

SSM returns to the market with $323 million, highlighting its stronger balance sheet, ESG efforts, and medical partnerships that reflect a sector trend.

Hawkish Fed comments caused UST yields to rise by as much as 17 basis points, just as munis had caught a bid. The new-issue market fared well in digesting large deals amid the volatility.

Despite speakers' objections over the cost of the project or the need for more restorative justice measures instead of incarceration, all three commissioners voted in favor of the referendum.