Sell side

The $6.9 billion new-issue calendar features high-grade deals from Georgia, Washington and Massachusetts, among other frequently traded credits, which should provide direction for scales.

Municipal bond mutual fund inflows returned as Refinitiv Lipper reported investors added $672.288 million for the week ending Wednesday following $256.532 million of outflows the week prior.

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

"We're looking to grow our team in various parts of municipal practice and it was time to really add a banker in the Midwest," Janney's head of public finance, Vivian Altman said. "We see a lot of potential in the Midwest."

Federal Reserve data shows that retail ownership of municipals rose $58.8 billion, or 3.7% quarter-over-quarter, to $1.67 trillion. Bank ownership fell in the first quarter by $13.3 billion.

Molloy will be leaving the banking giant for the nonprofit sector. Dan Tomson and Paul Creedon, co-heads of public finance, will be taking over his responsibilities.

Gambone, who has 30 years of experience in the municipal finance industry, replaced retiring head of public finance Eileen Solla-Diaz.

Suzanne Shank has been chosen as chair of the 2024 Mackinac Policy Conference, the Detroit Regional Chamber announced.

The work from home environment will reduce city property tax collections in coming months and years, analysts say, creating financial issues.

"Ultimately, the case for fixed income generally, and munis specifically, is much stronger today than it was a year ago," said Nick Vendetti, municipal bond fund portfolio manager with Allspring Global Investments.