Bonds

Texas Children’s Hospital, which was hit with rating downgrades this summer in the wake of operating losses, is moving ahead with an approximately $222 million revenue bond sale this week.  The tax-exempt, fixed-rate debt issued through the Harris County Cultural Education Facilities Finance Corp. is scheduled to price Thursday. Proceeds are earmarked for capital projects

Municipals were steady to slightly firmer in spots while the primary market took focus with at least 17 deals over the $100 million market hitting the screens led by billion-dollar-plus pricings from Washington, D.C., and Illinois. The New York City TFA priced $1.5 billion for retail investors and Chicago accelerated a pricing of water revenue

Efforts by Muni Pride to align with other public finance affinity groups are reaping dividends for the group, which has grown to more than 100 individuals since its inception in 2019. The California-based national LGBTQ+ networking group will host its next event Oct. 1 in New York City. Connecticut State Treasurer Erick Russell will offer

Municipals were little changed Monday as U.S. Treasuries were mixed and equities were in the black. As the market awaits the onslaught of new-issuance, muni underperformance to USTs continues from last week’s moves. “As USTs were rallying, dealers noted slightly better volumes but continued to report a slow grind as accounts are eyeing the heavy

Siebert Williams Shank has brought on Lori Ciraolo to further strengthen its taxable fixed-income team. Ciraolo, who spent more than 17 years at Goldman Sachs, has been hired as a senior vice president in corporate and municipal short-term securities to help expand SWS’ taxable muni franchise through commercial paper trading. “It’s a hybrid role between

The judge overseeing the bankruptcy for Puerto Rico’s government-owned electric utility continued a pause on litigation related to the case as the power provider and its creditors negotiate a possible debt-cutting deal.  U.S. District Court Judge Laura Taylor Swain extended for an additional 30 days the litigation stay through Oct. 8 and ordered the parties

The employment report did not settle the 25 or 50 basis point rate cut argument, economists said, as it offered a mixed bag, with lower-than-expected jobs added and downward revisions to previous months’ numbers, while earnings grew and the unemployment rate dipped. Nonfarm payrolls rose 142,000 in August, less than the 165,000 expected, while the

Speaking Thursday to the Economic Club of New York, former President Donald Trump proposed the creation of a U.S. sovereign wealth fund to pay for infrastructure projects. “We’ll create America’s own sovereign wealth fund to invest in great national endeavors for the benefit of all of the American people,” Trump said. “Why don’t we have

Municipal and U.S. Treasury markets improved Friday after a weak jobs report sent investors fleeing equities in a flight-to-quality trade. While the employment report did not settle the 25 or 50 basis point rate cut argument, economists said, it did cause the UST 2s/10s to de-invert.  “While stocks are selling off, we are witnessing a

The Jackson Hospital & Clinic in Montgomery, Alabama, has named a chief restructuring officer in the aftermath of a bond payment default. Allen Wilen, partner at Eisner Advisory Group, will be the chief restructuring officer bond trustee UMB Bank, N.A., announced Thursday after the hospital failed to make a bond payment Tuesday. UMB believes there

Municipals were slightly firmer Thursday amid another busy day in the primary market, which saw a $1.1 billion deal from the North Texas Tollway Authority price and $850 million of general obligation bonds from Massachusetts sold in the competitive market. U.S. Treasury yields fell and equities were mixed. The two-year muni-to-Treasury ratio Thursday was at

One third of bridges in the U.S. need to be repaired or replaced. But federal infrastructure dollars are helping states chip away at that number, according to the American Road & Transportation Builders Association’s latest annual bridge report. “‘Slow and steady’ describes ongoing state efforts to reduce the number of bridges in poor condition (“structurally

South Dakota voters will determine the fate of Initiated Measure 28, which would eliminate the state sales tax on groceries. Illinois, Oklahoma, Kansas, Arkansas, Utah, Tennessee, Alabama and Virginia have eliminated or reduced this tax, according to the Urban Institute Tax Policy Center.  “Grocery taxes are regarded as a regressive form of taxes, and cutting

House Republicans are setting up a bitter partisan fight for their return to the Capitol next week over what exactly will be included as part of a continuing resolution that would keep the government open past Sept. 30, when current spending is set to expire. Work on that has already begun. Speaker of the House

Municipals were little changed to firmer in spots Tuesday as U.S. Treasury yields fell while equities sold off to start September. “With August now behind us, munis continued the summer rally with [the month] returning 0.79%, pushing year-to-date gains to 1.30%,” said Jason Wong, vice president of municipals at AmeriVet Securities. This marked the first

Just past the two-year anniversary of the Inflation Reduction Act, states have captured an average of 7% of the Biden administration’s signature climate legislation potential funding opportunities. That’s according to an Aug. 13 report from clean energy think tank RMI, which adds that the small number “makes sense” since use of the tax credits that

The Municipal Electric Authority of Georgia’s $373 million of subordinated bonds are scheduled to price on Sept. 5. The bonds are rated A2 by Moody’s Ratings and A-minus by both S&P Global Ratings and Fitch Ratings. The ratings have stable outlooks. BofA Securities will serve as senior manager and Goldman Sachs and Wells Fargo Securities

Municipals were little changed while U.S. Treasury yields rose and equities ended mixed. Municipal bond mutual funds saw inflows as investors added $1.047 billion to funds after $512.9 million of inflows the week prior, according to LSEG Lipper. This marks nine straight weeks of inflows. <img src=”https://public.flourish.studio/visualisation/19228117/thumbnail” width=”100%” alt=”chart visualization” /> High-yield continued to show

A proposal to help solve California’s property insurance crisis would tap the bond markets and could involve billions of dollars in debt issuance. The debt would be issued through the California Infrastructure and Economic Development Bank. Assembly Bill 2996 authored by Assemblymember David Alvarez, D-San Diego, would help stabilize the insurance marketplace by bolstering the

Federal Reserve chair Jerome Powell said in a speech in Jackson Hole, Wyo., in August that inflation has been cooling to the point where the central bank is willing to cut the Federal Funds Rate for the first time in four years. Bloomberg News Inflation continued to show signs of easing in the Federal Reserve’s