The municipal bond market has recently shown resilience, maintaining stability amidst shifting economic indicators. On Thursday, municipal bonds remained relatively unchanged, despite a backdrop of substantial inflows into municipal bond mutual funds and active participation in the primary market. A notable transaction was the $3.2 billion worth of transportation bonds issued by the New Jersey
Bonds
In a significant move that redefines its evaluation framework, S&P Global Ratings has placed over 400 issuers from state and local governments under criteria observation following the adoption of its updated rating methodology. This adjustment highlights S&P’s commitment to enhancing the framework used to assess government creditworthiness, which had been in place for years. The
The bond market is exhibiting unprecedented growth as 2024 progresses. Recent data highlights that September 2024 has become a significant milestone, showcasing a remarkable 44.5% increase in issuance compared to the same month in the previous year. With state and local governments playing leading roles, the market witnessed an influx of larger deals predominantly driven
The municipal bond market has seen a remarkable surge in issuance, particularly in the high-yield sector, which offers opportunities for investors looking for attractive yields amid competitive conditions. This article aims to dissect the contributing factors behind this trend, the evolving investor preferences, and the specific demand characteristics for bonds related to higher-tax states. Despite
In a crucial meeting that showcased the growing tensions within Chicago’s political landscape, the City Council opted to defer a vote on a $1.5 billion refunding bond measure, highlighting the precarious balance between fiscal responsibility and urgent financial needs. With significant opposition from certain aldermen and concerns raised by Illinois Comptroller Susana Mendoza, this situation
The bond insurance sector has demonstrated remarkable resilience in 2024, as evidenced by a 26.8% increase in the amount of debt it wrapped compared to the previous year. Municipal bond insurers enveloped approximately $28.921 billion from January to September 2024, a significant rise from the $22.814 billion recorded during the same period the previous year,
The launch of the Equitable School Revolving Fund LLC. (ESRF) is set to introduce an innovative financing mechanism for charter schools, with a striking $300 million offering of A-rated social bonds debuting next week. This pioneering step is not just about the money; it signifies a commitment to support charter schools’ financial stability and growth.
The municipal bond market has recently experienced shifts that are critical for both current and prospective investors. With municipals showing a trend of weakness and U.S. Treasuries rising in yield, it is essential to dissect these movements to understand the broader implications for the financial markets as we enter the final quarter of the year.
The University of Arizona (U of A) finds itself navigating a turbulent financial landscape as it prepares to enter the municipal bond market for the first time since receiving negative rating outlooks from major credit rating agencies. This $115.645 million revenue bond issuance, known as the Stimulus Plan for Economic and Educational Development (SPEED), marks
Cleveland is set to return to the financial markets with significant bond offerings this month, reflecting the city’s continuing efforts to improve infrastructure and public services. This article delves into the details of both bond issuances, evaluates the city’s financial position, and discusses the implications for taxpayers and residents alike. The first of the two