Bonds

Plainwell Community Schools was among the Michigan districts to have bond measures fail in November.Plainwell Community Schools Michigan’s Plainwell Community Schools had a $39.8 million bond measure on the ballot Nov. 5, its second attempt this year to secure voter approval for capital projects in the district. The new bond had been downsized from the

Enjoy complimentary access to top ideas and insights — selected by our editors. The top 10 financial advisors for housing deals accounted for $12.595 billion in the first half of 2024. Caine Mitter & Associated ranked No. 1 with $5.1 billion, followed by CSG Advisors with $3.3 billion and CFX Inc. with $1.9 billion. Source:

Enjoy complimentary access to top ideas and insights — selected by our editors. The top 10 underwriters for healthcare issuance accounted for $20.056 billion in the first half of 2024. RBC Capital Markets leads the pack with $5.2 billion in issuance, followed by BofA Securities with $3 billion and Raymond James with $2.2 billion. Source: LSEG

Brightline won The Bond Buyer’s 23rd annual Deal of the Year award for its $3.2 billion recapitalization that represents a transformative moment in U.S. infrastructure financing.  As the largest private-activity bond issuance and first investment-grade debt for American high-speed rail, this transaction, which also won Deal of the Year in the Innovative Financing category, restructured

<img src=”https://public.flourish.studio/visualisation/20605532/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were firmer amid a busy new-issue calendar, as U.S. Treasury yields were slightly weaker outside of five years and equities were mixed. Muni yields were bumped one to five basis points, depending on the scale, while UST yields rose up to three basis points out long. The two-year

Representative Patrick McHenry, a Republican from North Carolina and chairman of the House Financial Services Committee, center, said Congressional oversight will be key to ensuring regulators get implementation of the Financial Data Transparency Act “right.”Al Drago/Bloomberg A Congressman who sponsored the Financial Data Transparency Act unpopular among many municipal bond issuers said cities worried about

Oakland, California’s ratings were downgraded to A by Fitch Ratings as the city struggles with financial woes.Adobe Stock Oakland, California’s financial turmoil and turnover in leadership have resulted in the city’s bond rating being downgraded to A from AA-minus by Fitch Ratings. The outlook was revised to negative. The city had $821.7 million in bond

“Maintaining fiscal responsibility is a critical requirement of public entities,” said David Medanich, co-head of Public Finance at Hilltop Securities. ”Public funds require the highest level of safety, and accountability. The primary goal is to earn a competitive rate of return while maintaining preservation of principal. Cryptocurrencies do not meet this definition.” Tony Valdez The incoming Trump

Texas Gov. Greg Abbott touts a state-funded education savings account program at a parent empowerment day event at the state capitol in March 2023. After the program failed to pass that year, he vowed another push in 2025 and campaigned for pro-voucher legislative candidates.Texas Governor’s Office Texas is gearing up for its 2025 legislative session

<img src=”https://public.flourish.studio/visualisation/20585986/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were firmer to kick off December, as U.S. Treasuries were weaker and equities were mixed late in the session. Muni yields were bumped one to four basis points, depending on the scale, while UST yields rose up to five basis points on the short end, as of 3

Federal Reserve Gov. Christopher WallerBloomberg News At least one Federal Reserve official is leaning toward cutting interest rates at the central bank’s final monetary policy-setting meeting of the year. In a speech delivered Monday afternoon, Fed Gov. Christopher Waller said the Federal Open Market Committee can reduce the federal funds rate by an additional quarter-percentage

FINRA’s 529 initiative was launched in 2019. A San Diego-based broker dealer has agreed to pay a fine and restitution to settle claims it failed to properly supervise its brokers selling shares of 529 plans for customers looking to roll over the investments from one state plan to another. Independent Financial Group, LLC settled the

After losing an appeal to the First Circuit Court of Appeals in the PREPA bankruptcy, the Puerto Rico Oversight Board has filed a second appeal with the court. Several parties have asked the U.S. Court of Appeals for the First Circuit to reconsider its November decision that affirmed Puerto Rico Electric Power Authority bondholders’ lien on

Tyler Traudt, CEO, DebtBookRYAN L JOHNSON DebtBook, a provider of cloud-based software solutions for governments and nonprofits, has released a new tool designed to provide a unified system to monitor bank activities, forecast cash inflows and outflows, and prevent fraud.  The firm’s new product, Cash Management, is set to solve a number of organizational challenges

The city of Chester, on the Pennsylvania side of the Commodore Barry bridge (shown). A battle over the Chester Water Authority continues to rage.AdobeStock The Chester Water Authority traces its origins back to 1868, when it was created as a private entity to provide water to Chester, Pennsylvania’s residents.  The Chester Water Service Company, as

&amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;lt;img src=”https://public.flourish.studio/visualisation/20548015/thumbnail” width=”100%” alt=”chart visualization” /&amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;gt; Municipals were lightly traded in a post-Thanksgiving holiday-shortened session, but the asset class held onto a firmer tone Friday following an improved U.S. Treasury market, ahead of what’s building up to be a sizable new-issue slate for the first week of the last month of 2024. Demand for paper

&amp;amp;amp;amp;lt;img src=”https://public.flourish.studio/visualisation/20515760/thumbnail” width=”100%” alt=”chart visualization” /&amp;amp;amp;amp;gt; Municipals were firmer Wednesday following U.S. Treasury yields lower as economic indicators sent investors the signal the Federal Reserve will likely continue on its rate-cutting path.  “While this month’s core PCE inflation, data was certainly a little higher than the Fed would like it to be, it was very

Jackson Hospital engaged Allen Wilen, partner at Eisner Advisory Group, as the chief restructuring officer in early September. The defaulted issuer Jackson Hospital & Clinic of Birmingham, Alabama, is set to receive bridge loans from some of the holders of its bonds. Investors participating in talks with the hospital have agreed to loan up to

&amp;lt;img src=”https://public.flourish.studio/visualisation/20514185/thumbnail” width=”100%” alt=”chart visualization” /&amp;gt; Issuance fell in November year-over-year, marking the first month supply has declined in 2024, as election-related uncertainty and fewer available pricing days kept volume low. Despite this, bond volume in 2024 will break issuance records. November’s volume was at $24.743 billion in 607 issues, down 33% from $36.918 billion

“By modernizing this key venue, we will not only attract more events and visitors but also stimulate local businesses and create a vibrant atmosphere in the area,” said D.C.’s Democratic Mayor Muriel Bowser. “Our agreement stipulates that at least 40% of contracts will be awarded to certified business enterprises, with an ambitious goal of reaching

The Chicago skyline in August. Chicago is preparing to go to market with a refinancing deal that will help balance its budget.Bloomberg News A complex refinancing deal pricing next week continues Chicago’s move from scoop-and-toss practices but still front-loads savings to help balance the city’s budget. The city will issue $142.09 million of sales tax