Bonds

“A lot of the strategists and pundits who petitioned Senators and Congressmen on our behalf for the municipal market have their hair on fire, worried that the exemption is going to go away,” said Eric Kazatsky, head of Municipal Strategy for Bloomberg Intelligence. ”It’s not as easy as just saying with the stroke of the pen

University of Idaho President Scott Green has been a driving force behind plans to acquire the online University of Phoenix.University of Idaho The University of Idaho’s plans to acquire the online University of Phoenix for $685 million hit another speed bump: the state Supreme Court overturned a lower court’s support for the plan. The university

<img src=”https://public.flourish.studio/visualisation/20664459/thumbnail” width=”100%” alt=”chart visualization” /> Municipal bond yields fell Friday following U.S. Treasuries’ gains after improved jobs data affirmed the Federal Reserve’s expected December rate cut path, while equities were mixed ahead of the close. “Financial markets are now pricing in a cut at this month’s [Federal Open Market Committee] meeting and two more

The St. Petersburg, Florida, City Council approved bonds to help pay for a new stadium for the Tampa Bay Rays.Bloomberg News The Tampa Bay Rays moved a step closer to a new stadium, as the St. Petersburg, Florida, City Council voted 4 to 3 Thursday to approve $333.5 million in bonds for that project and

<img src=”https://public.flourish.studio/visualisation/20648548/thumbnail” width=”100%” alt=”chart visualization” /> Municipal bonds were little changed in secondary trading as the focus shifted to the primary market amid several large deals while municipal bond mutual fund inflows topped $1 billion. U.S. Treasuries were mixed and equities ended in the red. Lipper reported fund inflows of $1.154 billion for the week

PREPA says it has only enough money to pay pensions through March. The performance and financial condition of the Puerto Rico Electric Power Authority, its generation operator Genera and its transmission and distribution operator LUMA have raised concerns, by the entities themselves as well as outside observers in the past few weeks. PREPA said it

<img src=”https://public.flourish.studio/visualisation/20627705/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were steady Wednesday as the market saw another heavy slate of new issuance and inflows continued into muni mutual funds. U.S. Treasuries made gains and equities broke more records. Federal Reserve Board Chair Jerome Powell in a televised interview Wednesday said “little to alter the market’s view that

 ”There has been a fairly persistent resistance to embrace fiscal sustainability,” said Jared Bernstein, the chairman of the Council of Economic Advisers at The White House.  “The only way that changes is with a forcing event, and perhaps one of the few forces that could potentially discipline the Trump administration in this regard is the bond

Brightline won The Bond Buyer’s 23rd annual Deal of the Year award for its $3.2 billion recapitalization that represents a transformative moment in U.S. infrastructure financing.  As the largest private-activity bond issuance and first investment-grade debt for American high-speed rail, this transaction, which also won Deal of the Year in the Innovative Financing category, restructured

Oakland, California’s ratings were downgraded to A by Fitch Ratings as the city struggles with financial woes.Adobe Stock Oakland, California’s financial turmoil and turnover in leadership have resulted in the city’s bond rating being downgraded to A from AA-minus by Fitch Ratings. The outlook was revised to negative. The city had $821.7 million in bond

<img src=”https://public.flourish.studio/visualisation/20585986/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were firmer to kick off December, as U.S. Treasuries were weaker and equities were mixed late in the session. Muni yields were bumped one to four basis points, depending on the scale, while UST yields rose up to five basis points on the short end, as of 3

After losing an appeal to the First Circuit Court of Appeals in the PREPA bankruptcy, the Puerto Rico Oversight Board has filed a second appeal with the court. Several parties have asked the U.S. Court of Appeals for the First Circuit to reconsider its November decision that affirmed Puerto Rico Electric Power Authority bondholders’ lien on

House Appropriations Chair Rep. Tom Cole, R-Okla., said disaster aid may be included in a short-term government funding bill this year.Al Drago/Bloomberg News Lawmakers will return to Capitol Hill next week to wrap up the 118th Congress with must-pass government funding and national defense authorization bills and fresh disaster funds on tap. The lame-duck session ending

Moody’s Ratings downgraded Manhattan, Kansas, bonds to A1 from Aa3 in the wake of a tardy audit and deteriorating finances. A tardy annual audit and deteriorating finances led Moody’s Ratings to downgrade the issuer and general obligation rating for Manhattan, Kansas, to A1 from Aa3 and warn the rating could be lowered further or even

&amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;lt;img src=”https://public.flourish.studio/visualisation/20548015/thumbnail” width=”100%” alt=”chart visualization” /&amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;gt; Municipals were lightly traded in a post-Thanksgiving holiday-shortened session, but the asset class held onto a firmer tone Friday following an improved U.S. Treasury market, ahead of what’s building up to be a sizable new-issue slate for the first week of the last month of 2024. Demand for paper

The Chicago skyline in August. Chicago is preparing to go to market with a refinancing deal that will help balance its budget.Bloomberg News A complex refinancing deal pricing next week continues Chicago’s move from scoop-and-toss practices but still front-loads savings to help balance the city’s budget. The city will issue $142.09 million of sales tax

“By modernizing this key venue, we will not only attract more events and visitors but also stimulate local businesses and create a vibrant atmosphere in the area,” said D.C.’s Democratic Mayor Muriel Bowser. “Our agreement stipulates that at least 40% of contracts will be awarded to certified business enterprises, with an ambitious goal of reaching

Jackson Hospital engaged Allen Wilen, partner at Eisner Advisory Group, as the chief restructuring officer in early September. The defaulted issuer Jackson Hospital & Clinic of Birmingham, Alabama, is set to receive bridge loans from some of the holders of its bonds. Investors participating in talks with the hospital have agreed to loan up to

&amp;amp;amp;amp;lt;img src=”https://public.flourish.studio/visualisation/20515760/thumbnail” width=”100%” alt=”chart visualization” /&amp;amp;amp;amp;gt; Municipals were firmer Wednesday following U.S. Treasury yields lower as economic indicators sent investors the signal the Federal Reserve will likely continue on its rate-cutting path.  “While this month’s core PCE inflation, data was certainly a little higher than the Fed would like it to be, it was very

&amp;lt;img src=”https://public.flourish.studio/visualisation/20514185/thumbnail” width=”100%” alt=”chart visualization” /&amp;gt; Issuance fell in November year-over-year, marking the first month supply has declined in 2024, as election-related uncertainty and fewer available pricing days kept volume low. Despite this, bond volume in 2024 will break issuance records. November’s volume was at $24.743 billion in 607 issues, down 33% from $36.918 billion