Taxable bonds

The American Rescue Plan was passed without waiving the Pay As You Go Act, which could prevent municipalities from receiving payments on bonds already issued.

The debt issued through conduit Gallatin County, Montana, benefits an aerial firefighting company that went public through a SPAC weeks after the bonds sold.

Oklahoma's first utility securitization bond deal related to 2021's Winter Storm Uri continued to attract criticism from a state regulator who called for an independent review.

With the Fed committed to fighting inflation with aggressive rate hikes, fewer issuers want to take the risk with taxable advance refundings.

Munis were firmer to end the week but underperformed U.S. Treasuries.

Seventeen months after Winter Storm Uri hit the Southwest, state-sanctioned securitizations are queuing up to mitigate a huge spike in energy costs for customers, with an Oklahoma deal the latest to price.

More firms are revising issuance projections downward due to lower refunding and taxable volumes. Many participants say it is unlikely the market will hit issuance records reached in 2021 and 2020.

The Cleveland-based university's 100-year taxable bond landed at a 5.4% interest rate.

Bridger Aerospace plans to sell $160 million in unrated taxable revenue bonds, with a verified sustainability designation, through conduit Gallatin County.

Hardy Manges brings three decades of experience in municipal trading to the national, full-service investment bank, brokerage and advisory firm.