Municipal analysts have been tracking the challenges faced by home insurers in California and other states plagued with extreme weather events as a harbinger of credit risk.
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The median time for issuers in all municipal bond sectors to produce audited financials rose nearly 10.5% from 2011 to 2022, according to a new report.
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The measure "sets the table for a likely big tax bill next Congress," said Charles Samuels of Mintz Levin.
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Texas Capital hired Steve Genyk, a former public finance head at UBS Financial Services, as a managing director to lead its new public finance business.
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"In terms of credit quality, high-yield funds proved resilient" while investment-grade funds saw outflows of $673 million, noted J.P. Morgan's Peter DeGroot in a market note.
May 16
More funding went to oil and gas subsidies than into green energy projects in recent years, according to panelists at Milken Institute's Global Conference.
A state judge issued a temporary injunction against enforcement of the Energy Discrimination Elimination Act, which has led to the ban of seven financial firms, including four big municipal bond underwriters, from government contracts.
The latest revision of Oklahoma's fossil fuel "boycotter" list added Barclays, which joins three other municipal bond underwriters placed there last year.
Catch up on our recent coverage of the various legal issues and considerations impacting BAB redemptions.
James Morris of Investortools joins the podcast to discuss the significant impact of electronic trading and automation on the municipal finance sector, revealing insights into improved efficiencies, trading workflows, and the evolving role of bond traders.
In the wake of Citi's and UBS's exit from the municipal industry, other firms are seizing the opportunity to expand with new hires.
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Possible solutions include managed lanes, EV mileage fees, and higher registration fees.
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"This bipartisan FAA reauthorization bill is the product of endless hours of negotiation and debate and will transform several aspects of flying in the years to come," said Aviation Subcommittee Ranking Member Rep. Steve Cohen, D-Tenn.
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Enviva's $353 million in tax-exempt bonds currently are among the liabilities at stake in the company's Chapter 11 bankruptcy.
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Fitch Ratings cited new rating criteria and increases in state funding in giving Milwaukee a three-notch bond rating boost. The outlook is stable.
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The CPI print keeps the possibility of the Fed cutting rates at least once this year, potentially at least two rate cuts if the data continues to point to a trend of inflation falling further, said Jeff Lipton, a research analyst and market strategist.
May 15
