Sell side

Schools and governments turn to bonds to cover payouts in the wake of a California law that temporarily lifted the statute of limitations on sex abuse claims.

The top 10 underwriters for the first half of the year brought in more than $203 billion across nearly 2,000 issues.

The top issuers for the first half of 2025 put out a combined 89 issuances amounting to more than $39 billion in par value.

Soon after it sold $687.3 million of bonds, Chicago returned to market with $82.55 million for housing and economic development in a deal set to close Monday.

Primary bond market volume was up 3.6% year-over-year to $49.9 billion, according to LSEG data.

Chicago goes to market next week with $517.95 million of taxable and tax-exempt general obligation bonds following a downward outlook revision from Fitch.

This episode takes us inside The Bond Buyer's recent Southeast Public Finance Conference, where airport finance leaders from Orlando and Tampa discussed shifting passenger trends, modular capital planning, federal grant concerns, and why long-term growth still looks strong.

Issuers routinely refund 5% bonds in year 10, and the resulting savings can be significant. It is notable that although refunding is typically associated with declining interest rates, 5% bonds are refunded even if rates rise.

Samantha Funk will step up as new head of public finance at PNC after Rob Dailey retires at the end of July.

At a Bond Buyer conference in Atlanta, industry leaders talked about tariff turmoil, the tax-exemption, weather resiliency, infrastructure and more. 

For most investors, partnership matters, said Jamie Doffermyre, head of public finance syndicate and origination at Truist Securities.

Student loan issuers are watching federal policy, from the Department of Education to the tax-exemption, to decide on the timing and size of their annual deals.

Harvard University's ongoing legal battles and the return to market by Chicago's Regional Transportation Authority lead a host of municipal topics in April.

Long Beach has few, if any, peer credits for the $88 million of marina revenue refunding bonds it plans to price next week.

Dan Aschenbach and Namsoo Lee created Municipal Financial Solutions Associates to help utilities manage the changing economic and regulatory landscape.

Baker Tilly is preparing a $7 billion merger with Moss Adams, another advisory firm. The deal will close in early June.

The state plans to price $626 million in GOs, in part, to fund the I-5 bridge replacement

If the muni market "stays here at these new relationships, we'll find its footing," said John Flahive, head of fixed income at BNY Wealth.

New York's capital needs mean the city cannot afford to be picky about market timing for bond deals, said Jay Olson, deputy comptroller for public finance. 

The Bond Buyer took the pulse of municipal bond market pros to see what they are doing and advising in the midst of the volatility driven by President Trump's shifting tariff policies.