Public finance

The economic impact of the strike will depend on how long it lasts and how many truckers stick with it.

Low ratios, low yields and massive demand are leading to a market that is mostly on its own. Refinitiv Lipper reported $1.7 billion of inflows.

Whether a BABs-like program could make it into actual law in Washington is still highly uncertain. What is certain: Some form of infrastructure spending is must-pass legislation because federal-aid highway funding is set to expire in October.

Bond insurance grew to 8.4% of total market par covered in the first half of 2021.

The larger new issues and aggressive swings in taxables had investors on guard as triple-A curves were pressured outside 10-years, but the asset class still vastly outperformed UST while ICI reports nearly $3 billion more inflows.

The agency must still pay the commonwealth due to 2007 legislation that went sideways.

To ensure continued economic growth, the state has seen a need to diversify into alternative water sources to meet projected needs as well as respond to drought and protect the environment.

Negotiated deals were repriced to lower yields while competitive deals saw levels coming in through triple-A benchmarks. High-grade benchmarks were little changed.

Wednesday will be the first Senate vote on advancing a bipartisan infrastructure deal.

The prominent Chicago health system's refunding will simplify its debt structure, cut interest rates, and provide longer-term fixed financing.

Municipal triple-A benchmarks were pushed to lower yields by one to three basis points across the curve, with the bigger moves out long, but still vastly underperformed the 10-plus basis point moves in UST.

Issuers should recognize their ability to prepay debt is an extremely important term, and they should consult with their MAs to achieve the most liberal prepayment term consistent with the type of financing they are doing.

The future is looking up for Salt Lake City International Airport as it continues redevelopment with $900 million of revenue bonds.

Supply, however, is still less than the massive amounts of cash on hand. Bond Buyer data shows 30-day visible supply at $12.53 billion.

Spreads for the Metropolitan Pier and Exposition Authority, which manages Chicago's convention center, narrowed in an $811 million deal that priced Thursday.

Weill was involved in the municipal bond insurance industry from its inception in the late 1960s, as well as the original entrepreneurial group that created MBIA and its predecessors.

U.S. Treasuries have been volatile the past five sessions, with municipals largely ignoring the ride. Participants mostly have accepted current rates and ratios as large amounts of cash slosh around a market with strong technicals.

Honolulu plans to price $725.4 million of double-A-plus GOs next week; a significant chunk of the deal will support Oahu's troubled rail transit project.

Perform, a portfolio management platform for institutional investors who want to accesses the municipal bond market, will be integrated into ICE Bonds.

A key demand component in the market again flexed its muscles with ICI reporting another round of $2 billion-plus fund inflows.