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Municipals extended their selloff with the largest losses on the short end amid another busy day in the primary market, led by an upsized JFK Airport Terminal 6 Redevelopment Project deal. U.S. Treasuries were little changed and equities ended mixed. Triple-A yields rose three to 12 basis points, playing some catch up after recent outperformance.

As the election looms, tax specialists and politicos are gaming out what might happen to key provisions of the Tax Cuts and Jobs Act, including the deduction cap on state and local taxes.   “There’s an interesting set of bedfellows and partnerships that could emerge on SALT,” said Arshi Siddiqui, a partner at Akin, and a

The New York State Capitol Building in Albany. New York has enacted some improved public pension benefits.Bloomberg News A trend of public pension benefit improvements could put credit pressure on states that enact them, Fitch Ratings said this week. Enacted and proposed state measures providing more generous benefits will “lead to higher required contributions and

The Securities and Exchange Commission has charged Alliance Global Partners for engaging in unfair practices and publishing daily quotes at above market prices on anywhere between 4,300 and 6,500 different municipal bonds between February 2019 and February 2021. The firm violated Municipal Securities Rulemaking Board Rules G-13 on quotes, G-14 on reports of sales or

The Securities and Exchange Commission’s Examination Division will take a closer look at municipal advisors, specifically non-solicitor municipal advisors in FY 2025, and will begin enforcing the move to a T+1 settlement cycle. That comes on the backs of the Commission’s first case enforcing Municipal Securities Rulemaking Board Rule G-42, which was established in 2016

Oklahoma would open the door to the creation of bond-issuing public infrastructure districts if voters approve a constitutional amendment on the Nov. 5 statewide ballot. State question 833 would allow property owners to petition their municipality to create a PID as a way to finance roads, sidewalks, parks, and water and sewer services through the

More firms are turning to integrating with other systems as they address growing client needs for seamless workflows and contend with the ability to scale their business. However, barriers can impede integration, leading to firms having varying levels of success. Since “fixed income markets are complex and bifurcated … we have to collaborate to provide

The top five bond financings in the ranking came in at more than $7 billion, according to data from LSEG. The top 20 bond financings have a cumulative amount of more than $18 billion. Total issuance in September hit nearly $45 billion, bringing market expectations for a record year closer to fruition. Scroll through to

Municipals were weaker Monday following U.S. Treasury market pressures while equities ended down. Triple-A yields rose up to seven basis points while govies were higher by eight to 12 basis points. Short ratios fell as a result of the day’s moves. The two-year muni-to-Treasury ratio Monday day was at 61%, the three-year at 61%, the

On Monday, the Department of Transportation announced the winners of $4.2 billion in grants flowing from the Biden Administration’s infrastructure legislative crown jewel.  “Thanks to the Bipartisan Infrastructure Law, the Biden-Harris administration is carrying out ambitious, complex transportation projects that will shape our country’s infrastructure for generations to come,” said U.S. Transportation Secretary Pete Buttigieg.  “With

PNC bank has recently made several new hires, beefing up its banking presence in the west and in Texas. Christopher Roberts joined the firm in August as managing director and head of Western Region & National Public Power/Utilities, and Joey Dierker joined as an associate director. More recent hires include Soledad Mancias and Steve Bassett,