Bonds

People sift through burned remnants of a property in Los Angeles.Bloomberg News The pictures are horrific and terrifying. Entire neighborhoods wiped out like a war zone. Over 12,000 buildings destroyed. Hundreds of thousands ordered to evacuate. Nearly 40,000 acres burned. And it is not even over yet. The destruction in Los Angeles is overwhelming. It

The Deer Island wastewater treatment plant in Boston is owned by the Massachusetts Water Resources Authority, the largest borrower from the Massachusetts Clean Water Trust’s revolving fund.Adobe Stock The Massachusetts Clean Water Trust returned to the market on Wednesday where its triple-A green and sustainability bonds were well received.  The $541 million negotiated deal is

KBRA downgraded Chicago’s GO bonds to A-minus on Friday. The outlook is negative. Bloomberg News Kroll Bond Rating Agency downgraded Chicago’s general obligation bonds to A-minus from A on Friday. KBRA said the move reflects the city’s “extremely limited” options for raising new recurring revenues or materially cutting operating expenditures. It said those conditions will

<img src=”https://public.flourish.studio/visualisation/21307028/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were steady Friday as U.S. Treasury yields fell slightly and equities ended lower. The 10-basis-point-plus UST rally in the week of Jan. 13 led to slightly more attractive muni-UST ratios as munis lagged, but not for long, said Barclays strategist Mikhail Foux. While UST yields were stable the

Hans Hanf, former head of municipal markets at BAM, was remembered by friends and colleagues. Hans Hanf, former head of municipal markets at BAM, whose career in municipal finance spanned nearly half a century, died on Jan. 22.  He was 76. Hanf’s friends and colleagues remembered him as someone who could effortlessly bring people together.

PREPA bondholders told the Puerto Rico Energy Bureau rates must be set to cover outstanding bond principal and interest. The Puerto Rico Oversight Board and bondholders of the Puerto Rico Electric Power Authority are engaged in a potentially high stakes argument over how electric rates should be set, which could profoundly impact bondholders’ recovery. The

Nevada Gov. Joe Lombardo sparked a budget firestorm ahead of the legislative session by proposing a budget with a deficit and naming a new budget chief. Nevada Gov. Joe Lombardo replaced his budget chief just days before Nevada lawmakers convene on Feb. 3 for their regular legislative session, where they will discuss the governor’s budget

Warren “Bo” Daniels will lead the meeting as chair of the MSRB board. MSRB Ongoing work to potentially simplify the submission process for new issue disclosure and discussion of dealer supervisory obligations given changing work patterns will be among the topics on deck at the Municipal Securities Rulemaking Board’s upcoming quarterly board meeting. The MSRB’s

Puerto Rico Gov. Jenniffer González Colón at her inauguration Jan. 2 in San Juan.Bloomberg News Puerto Rico’s new governor and new party controlling the legislature may bring changes to its financial and economic policies, according to analysts. The bankruptcy of the Puerto Rico Electric Power Authority has continued for more than seven years and the

The Texas House and Senate unveiled their budget plans for the fiscal 2026-27 biennium.Bloomberg News The Republican-controlled Texas House and Senate on Wednesday unveiled base budget plans for the upcoming biennium with both chambers proposing to continue funding and expand a massive property tax cut enacted in 2023. Armed with a record $39.4 billion cash

<img src=”https://public.flourish.studio/visualisation/21273943/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were firmer Wednesday as the primary market picked up, led by the $2 billion retail pricing from the Regents of the University of California in the negotiated market and a $1.2 billion deal from the state of Washington in four series in the competitive market. U.S. Treasury yields

MSRB Chair Warren “Bo” Daniels. MSRB The Municipal Securities Rulemaking Board reported total net assets of $67 million for its fiscal year ended Sept. 30, 2024, up 14% from $58.7 million a year earlier as growth in underwriting fees helped boost revenue.  MSRB reported $57.5 million in total revenue as of Sept. 30, 2024, up

Gary Hall, Siebert’s president of infrastructure and public finance.Siebert Williams Shank The Siebert Williams Shank Foundation has donated $100,000 to two organizations providing aid to Los Angeles residents affected by the wildfires. The donations were split equally between the California Community Foundation Wildfire Recovery Fund and the Los Angeles Fire Department Foundation. “Our hearts go

“It is unfathomable to me that on the first day of this administration, the President signed an executive order to pause this progress, putting millions of dollars, hundreds of thousands of jobs and thousands of projects located in every congressional district in this country at risk,” said House Transportation and Infrastructure Ranking Member Rick Larsen,

“The interval fund structure is well suited to the municipal market throughout a cycle,” said Alex Petrone, Rockefeller Asset Management’s director of fixed income.Rockefeller Asset Management A trio of interval funds new to the municipal bond market underscore the growing popularity of this type of closed-end fund as managers look for alternative investments that offer

The Oklahoma County Detention Center, which opened in 1991, is slated to be replaced with a bond-financed facility.Oklahoma County Detention Center With costs escalating for a bond-financed replacement jail, an Oklahoma County oversight board on Tuesday endorsed holding a special election on a sales tax to help fund the construction and operation of the facility. 

“New issue value was a record in 2024 at $508 billion,” said John Bagley, chief market structure officer, for the Municipal Securities Rulemaking Board. “The first time the market went over $500 billion in its history.” MSRB Experts are looking to the past to predict the immediate future for what’s going to happen in the near-term

Last year was a record-breaker for the $4 trillion municipal market and a momentous one for the U.S. economy as well, what with the Federal Reserve cutting interest rates for the first time since 2022 and Republicans regaining control of the White House and both houses of Congress. But less than a month into 2025,

The Chicago area’s Regional Transporation Authority is calling for $1.5 billion in funding from state and local sources, including higher local sales taxes and rider fares. Regional Transportation Authority With Chicago-area transit services facing a fiscal cliff and state lawmakers in Springfield advocating major governance reforms, the region’s Regional Transportation Authority released a plan last

Enjoy complimentary access to top ideas and insights — selected by our editors. The top five bond financings in the ranking came in at more than $7 billion, according to data from LSEG. The top 20 bonds had a total issuance volume of more than $15 billion. Scroll through to see which bond financings are

<img src=”https://public.flourish.studio/visualisation/21257304/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were firmer Tuesday as U.S. Treasury yields fell and equities ended up. Muni yields were bumped one to four basis points, depending on the scale, while UST yields fell up to seven basis points out long. As the last third of January progresses, munis are in the red,