Wealth management

Market Intelligence analyst Jeff Lipton recaps May's muni outperformance versus Treasuries and broad fixed income, highlighting how carry, reinvestment demand and spread compression drove strong returns and helped A3 and Baa credits lead the market.

Market Intelligence analyst Jeff Lipton notes that coupon selection is often a strategy decision, not a price preference, and explains why premium coupons can help mitigate adverse price moves while giving investors flexibility through higher ongoing tax-free income.

State and local pension funds are "surviving but not thriving," said Equable in its State of Pensions 2025 report.

Troy Pitman has been hired by Wilmington Trust to further western expansion in the public finance segment of its corporate trust business.

This year's portfolio growth will save the city $2.18 billion over the next five years, Comptroller Brad Lander said.

Atlanta's airport and the rapid transit system have the biggest anticipated capital plans over the next five years.

Record contributions from public employers made up for below-expectation investment returns, according to a report published by the the Equable Institute.

White, who served as CEO of the financial advisory firm for over three decades before retiring at the end of 2011, passed away on Friday.

Seventeen states now allow or are considering legislation that allows reserve funds to be invested into cryptocurrency while sixteen are moving towards allowing crypto investments in their pension funds.

"Our job is to take that volatility, figure out what's noise, figure out what's reality, and lean into the opportunities as we see them," said Alex Petrone, director of fixed income at Rockefeller Asset Management.

The new roles for the longtime employees are part of the firm's strategy to prioritize internal promotions. 

The largest issuance the Local Government Commission approved was $387 million of bonds for Mecklenburg County.

Robert McDermott has joined the firm as a director.

Pension analysts are calling for higher contributions even as financial conditions improve.

The passage of a $11 billion plan, which aims to fully fund police and fire pensions in 30 years, comes as the retirement system is pushing its own plan in court.

In this episode, Howard Cure, Director of Municipal Bond Research at Evercore Wealth Management, discusses the improving state of public pensions, the ongoing challenges faced by states like New Jersey and Illinois, and the risks associated with pension obligation bonds.

Public pensions are averaging a significantly improved 80.6% funded ratio, but took on riskier investments to obtain higher returns, which would be problematic in a market correction.

"It would be irresponsible for us to ignore factors that can fundamentally impact the long-term viability of investments," said CalPERS interim Chief Investment Officer Dan Bienvenue of climate risks.

A city council committee received staff recommendations to fully fund the Police and Fire Pension System within 30 years.