Refunding bonds

The upgrades brought the Orange County Transportation Authority managed lanes toll credit to double-A levels across the board.

Total volume for the month was $26.062 billion in 677 issues, down from $36.583 billion in 928 issues a year earlier, according to Refinitiv data.

Total volume for the month was $30.599 billion in 577 issues, down from $40.423 billion in 900 issues a year earlier. Total issuance year-to-date is at $107.626 billion, falling 25.2% from the same period of 2022.

The Investing in Our Communities Act, introduced by House members Kustoff, R-Tenn., and Ruppersberger, D-Md., would reinstate tax-exempt advance refunding.

The collapse of Silicon Valley Bank and Signature Bank won't impact the Fed or the market enough to cause rates to drop and refunding volume to significantly increase, according to muni experts.

"We urge you to use rescue plan money to make your community safer," Biden said. "Invest in affordable housing, get small businesses back on their feet, train your workforce." 

Muni issuers are staunchly opposed to what they characterize as an unfunded mandate that provides limited benefits.

Rep. Jason Smith sold colleagues on his intentions to strictly oversee the Biden administration.

The organization is focused on some key muni priorities with the new year and new Congress.

The muni market saw $384.086 billion of debt sold in 2022, nearly $100 billion less than $483.234 billion in 2021.