Today In The Markets

Constructive secondary trading and a firmer tone were evident Monday as munis took cues from calmer markets overall. Triple-A yield curves saw small improvement, particularly on the short end, with bumps of one to two basis points, while Treasuries were better out longer. With two weeks of market swings in the rearview, and some further

Vice President Kamala Harris is pushing housing policy beyond Low Income Housing Credit reform in her bid for the White House.  “My administration will provide first time home buyers with $25,000 to help with the down payment on a new home,” she said during a stump speech in Raleigh, N.C., last week.   “We will take

California is planning to sell $2.5 billion of tax-exempt general obligation bonds later this month, the state’s second largest offering this year.  Proceeds from the sale will be used to finance voter-approved projects, pay down outstanding commercial paper and refund outstanding general obligation bonds, according to ratings documents provided by Fitch Ratings, which rates the

Nine public and private Chicago-area firms Friday joined the Equity in Infrastructure Project to hire more historically underserved firms for capital projects. The firms include the Illinois Tollway, Regional Transportation Authority and Metra, whose infrastructure programs together total tens of billions. They joined leaders of private firms like Loop Capital Chairman and CEO Jim Reynolds;

The sponsors of a $20 billion bond measure to fund affordable housing in the San Francisco Bay Area have removed it from the November ballot. A statement announcing the Bay Area Housing Finance Agency’s decision to withdraw the measure indicated doubt about its ability to garner the necessary two-thirds supermajority from voters in the nine-county

Bond insurance continues to be used by issuers and sees strong demand from retail and institutional investors, as the amount of debt wrapped by bond insurance rose 19.5% in the first half of 2024 year-over-year. Municipal bond insurers wrapped $18.592 billion in the first half of 2024, an increase from the $15.561 billion insured in

Despite swings in short-term rates, issuance of variable rate demand obligations and other floating-rate debt has steadily increased over the past several years, with variable rate (short put) issuance during the first half of 2024 rising to $7.077 billion, an 11.6% increase year-over-year, LSEG data shows. Issuance rose to $13.239 billion in total in 2023

Issuance surged in the first half of 2024, as drying up federal aid, a resurgence of Build America Bond refundings and front-loaded deals ahead of the election contributed to the rise in volume after two down years. Total volume for 1H 2024 was $242.162 billion in 4,208 deals, up 32.3% from $183.076 billion in 3,916