Bonds

Federal Reserve policymakers scaled back their expectations for rate hikes this year after a series of bank collapses roiled markets last month, and stressed they would remain vigilant for the potential of a credit crunch to further slow the economy, a record of the meeting showed. “Many participants noted that the likely effects of recent

Alabama is betting a stake in its economic future on one of its oldest industries. Coal has long been a staple of the state’s economy and could continue to be as state and private sector partners move to phase out mining coal for power generation and raise production of the type of coal needed for

President Biden’s veto of a congressional resolution challenging his Environmental Protection Agency’s redefining of “waters of the United States,” sets up a larger battle to play out in the courts for his administration to uphold the rule that is now being challenged in over half the country. Efforts to define WOTUS and stretch the interpretation

The embattled Oklahoma Turnpike Authority will halt work on a controversial $5 billion expansion project until its access to the municipal bond market is assured. The work stoppage effective Friday comes as the OTA faces an investigative state audit, litigation by property owners opposed to the project, and legislation that would impact the selection and

Longtime public finance veteran Brian Wynne has landed at Jefferies Financial Group Inc. after being ousted in January from Morgan Stanley, where turnover on its muni team continues. At Jefferies, Wynne will co-head the municipal syndicate group with Roy Carlberg. Wynne “brings decades of experience and a unique perspective to our issuer and investor clients,”

In the first quarter of 2023, the Texas Natural Gas Securitization Finance Corporation topped the list of the top 10 issuers. The Dormitory Authority of the State of New York, the Virginia Small Business Finance Authority, the Regents of the University of Michigan, the Los Angeles Department of Airports, the South Carolina Public Service Authority,

In the first quarter of 2023, the top municipal underwriters had $74.039 billion in 1,383 issues,, down from $97.270 billion in 2,301 transactions in 2022. BofA Securities maintained its position as the leader despite fewer transactions than in Q1 2022. The differences from year to year were minor shuffling among the top municipal underwriters, with

Municipals were firmer in spots, while U.S. Treasury yields rose 10 years and in ahead of Wednesday’s consumer price index report. Equities ended mixed. Triple-A yields were bumped up to three basis points Tuesday while UST yields rose up to two basis points 10 years and in, moving municipal-UST ratios near their 12-month lows, according

Butler Snow LLP has added 22 lawyers and an office in Huntsville, Alabama, its third in the state, to expand on economic growth there, the firm’s chair said. Butler Snow is “striving for strategic expansion” into an area brimming with new economic activity, Chair Christopher Maddux said in an interview. The Huntsville office is the

A massive Arizona participant sports venue that defaulted on its bonds has launched a naming rights search after Bell Bank pulled out of a 2021 agreement.  Legacy Cares, Inc., the venue’s nonprofit developer, said Tuesday Bell Bank Park will be called Legacy Park for now. “The search now begins in earnest for a new naming

Add stress in the regional banking sector to the bevy of pressures facing the construction industry. Small and medium banks are tapping the brakes on construction loans as they struggle to manage interest rate-related pressures that sparked some failures. “It’s surprising, the reach of those banks,” said Julian Anderson, president of Rider Levett Bucknall North

Illinois’ positive rating momentum and near-term budgetary commitment to raising higher education funding helped lift the University of Illinois’ and Illinois State University’s ratings. Moody’s Investors Service last month upgraded Illinois State University’s issuer and auxiliary facilities system ratings to A3 from Baa1 and its certificates of participation rose two notches to A3 from Baa2. The upgrade impacts

New Jersey’s efforts to reduce long-term obligations, especially pension liabilities, resulted in good news for the Garden State, as it received a second rating upgrade ahead of next week’s sale of more than $1 billion of school bonds. Fitch Ratings raised New Jersey’s issuer and general obligation bond ratings on Tuesday to A-plus from A

Transcription: Chip Barnett (00:03):Hi, this is Chip Barnett and welcome to another Bond Buyer podcast and we’re coming to you live from the BNP Paribas 2023 Open Tennis Tournament in Indian Wells, California. My guest today is Jean-Yves Fillion. He’s the CEO of BNP Paribas Americas. And we’re going to be talking about BNP Paribas

Despite volatility, bank failures and heightened macroeconomic uncertainty in the first quarter, the municipal market offers pockets of opportunity in the second as a result of higher yields and overall fundamental strength of the asset class. “If you look at yields in the 30-year part of the curve, we are seeing the biggest opportunity in

Puerto Rico Electric Power Authority bondholders want 100% of what they are owed and the Oversight Board working on the power authority’s bankruptcy plan offers a dramatically lower repayment percentage, court filing show. In a filing late on Friday, the bondholders said even if one assumed their claim was “unsecured,” they would still have a

Municipals were little changed to start the week, while U.S. Treasuries were slightly weaker and equities were mixed. The two-year muni-Treasury ratio was at 56%, the three-year at 57%, the five-year at 59%, the 10-year at 61% and the 30-year at 88%, according to Refinitiv MMD’s 3 p.m. ET read. ICE Data Services had the

Efforts by government and automakers to encourage electric vehicle adoption will shrink motor fuel use, weaken bond coverage ratios and force a broad reconfiguring of how states pay for transportation infrastructure. That was the upshot of a report Moody’s Investors Service released April 3 after running a stress test on the $38 billion it rates

The Greater Asheville Regional Airport Authority in North Carolina has won approval to sell $175 million of transportation revenue bonds. The state Local Government Commission voted April 4 to allow the airport authority to continue to finance its expansion work at the regional airport. Most bond sales in the state must be approved by the

Signs of slowing revenue growth popped up in Southwest states in March as a boom time for tax collections appears to be winding down. Following some record monthly collections last year, growth in 2023 is trending lower or even negative as states move to cut taxes during their current legislative sessions. Oklahoma’s total tax collections

The volatility of 2022 caused household and U.S. bank ownership of individual bonds to fall and the overall size of the market to shrink in the final quarter of the year, the latest Fed data shows. The total market value of the muni market “increased by 2.2% in the fourth quarter of 2022, but for