Bonds

Climate change is here and it’s taking a catastrophic toll on communities exposed to high hazards and ones with low adaptive capacity. In 2023, damages from weather and climate disasters totaled $280 billion globally. Worse, only $108 billion, or 38% of total global economic losses, were insured — leaving those who fall in the protection

A sign outside the Financial Industry Regulatory Authority office. The Financial Industry Regulatory Authority has fined Rudy Mejia Jr., chief executive officer and founder of Austin-based Nickel Hayden Advisors $10,000 for involving himself in the sale of $738,000 in limited partnership interests of a pooled investment fund he co-founded and co-managed. In addition to the

Matt Fabian, partner at Municipal Markets Analytics Inc., said the muni lobby is bulking up to prepare for a fight over the tax exemption in Congress. Market participants are gaming out scenarios in a post-election municipal landscape, pondering potential shifts in the investor base, borrowing costs and whether the Trump administration takes a scalpel or

The PureCycle facility in Ironton, Ohio. The plastics recycler is selling on revenue bonds it had bought back from investors earlier this year.PureCycle The owner of a municipal-bond-financed plastic recycling plant in Ohio says the project’s bumpy ride is smoothing out. PureCycle Technologies plans to continue selling revenue bonds that it bought back from investors

The CHI Health Center arena and convention center complex will get bond-financed improvements Omaha’s voters approved last week.Bloomberg News Omaha voters approved six general obligation bond measures totaling $333.4 million last week. Omaha Finance Director Stephen Curtiss told The Bond Buyer the city made it clear to voters that “we have no intention of raising

<img src=”https://public.flourish.studio/visualisation/20266588/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were narrowly mixed Tuesday, ignoring larger U.S. Treasury market losses while stocks ended their breakneck pace of post-election gains to close the session down. Triple-A yield curves showed a mix of one to three basis point bumps and cuts, depending on the curve, while USTs saw losses of

Palm Beach County Comptroller Joseph Abruzzo said the doctrine of separation of powers bars the court from telling him how to invest the county’s money. Palm Beach County Clerk and Comptroller Joseph Abruzzo last week asked a Florida court to dismiss a lawsuit by pro-Palestinian county residents contesting his investment of county money in Israel

“The most oblivious and pressing issue is preserving and protecting all tax-exempt bonds during any attempt at tax reform,” said Toby Rittner, president and CEO, of the Council of Development Finance Agencies.  ”We feel the coalition around this is strong and vocal, but we will continue to push this issue should the tax-exemption come under attack

Transcription: Transcripts are generated using a combination of speech recognition software and human transcribers, and may contain errors. Please check the corresponding audio for the authoritative record. Mike Scarchilli (00:05):Hi everyone and welcome to the Bomb Buyer Podcast, your trusted source for insights into the world of municipal finance. I’m Mike Scarchilli, editor-in-Chief of the

The Municipal Securities Rulemaking Board is seeking volunteers for a new Technology Advisory Group as well as for its now re-established Compliance Advisory Group for FY 2025. The board is asking those with interest in being part of either group to apply by email with their resume and a statement of interest in serving on

New York Gov. Hochul announces the agreement on the fiscal 2024 budget Thursday night during a news conference in the Red Room at the State Capitol in Albany.Office of Gov. Kathy Hochul/Mike Groll “God forbid, if Donald Trump is elected, [congestion pricing] will never happen,” New York City Comptroller Brad Lander told The Bond Buyer

The $120 million borrowing will finance an expansion of Million Air’s facility at the Austin Bergstrom International Airport.Million Air Private jet servicer Million Air is preparing to tap the high-yield municipal market with a structure that will likely feature so-called Cinderella bonds as the borrower works to overcome a snag with securing tax exemption on

Enjoy complimentary access to top ideas and insights — selected by our editors. The top 10 bond counsels accounted for $171.71 billion in the first nine months of 2024. Orrick Herrington & Sutcliffe lead the pack, accounting for $42.15 billion in 277 issues for an 11.3% market share, followed by Kutak Rock with $22.6 billion

The top 10 healthcare issuers accounted for $11.52 billion in 52 deals in the first half of 2024 as the sector deals with rising costs and staffing shortages. The California Health Facilities Financing Authority ranked first, accounting for $2.17 billion in 11 issues for a 12.3% market share, followed by the Colorado Health Facilities Authority

The top 10 underwriters for healthcare issuance accounted for a total of $16.65 billion. RBC Capital Markets ranked No. 1 with $3.75 billion, followed by J.P. Morgan Securities with $3.24 billion and BofA Securities with $2.98 billion. Rank Underwriter Par amount 1 RBC Capital Markets $3.752B 2 J.P. Morgan Securities $3.237B 3 BofA Securities $2.979B

Citizens in several states voted for initiatives that aim to make it a little (or a lot) cheaper to own a home next year. Residents in two southern states passed measures tying their property tax burden to the pace of inflation, while voters in another red state failed to pass a more controversial measure that

Dave Sanchez, director of the Securities and Exchange Commission’s Office of Municipal Securities, let attendees at The Bond Buyer California Public Finance conference know that new-issue pricing was, as set forth in the 2025 exam priorities, well, a priority.  The focus: municipal advisors — part of your regulatory responsibilities and duties (if you don’t agree

South Carolina-based assisted living developers CR Lakewood and CR Lakeside Place resolved a bond default. AdobeStock Owners of assisted and independent living retirement centers in South Carolina resolved a default on $24.5 million of bonds, according to a posting. Borrowers CR Lakewood, LLC, and CR Lakeside Place, LLC, failed to make principal payments due on

“There is a correlation between the IRS budget funding and enforcement, and this relationship will carry over to the tax-exempt bond enforcement side,” said Ed Oswald, partner, Orrick. ”My general take is that if there is a curtailment in IRS funding, we will see a reduction in the frequency and duration of municipal bond audits.” Burwell Photography

<img src=”https://public.flourish.studio/visualisation/20209026/thumbnail” width=”100%” alt=”chart visualization” /> Election uncertainty and Fed rate cuts have led tax-exempt and taxable money market funds to reach 2024 highs as more market participants have taken a defensive position. As more market stability comes and rates fall, investors may move some of these funds back into fixed income markets, sources say.

President-elect Donald Trump during an Economic Club of New York event in New York, US, on Sept. 5, 2024.Bloomberg News A second Trump administration is expected to make some changes, whether big or small to the state and local tax deduction, an issue Trump campaigned on and that has been talked about within the context