Bonds

U.S. Treasuries sold off Friday after payrolls came in much hotter than expected, leading economists and traders to pare back rate cut expectations. The municipal market could not ignore the moves and triple-A yields rose, but outperformed taxables to a large extent, pushing ratios lower. Equities rallied on the news, pushing the Dow to close

Dennis J. Enright, founding principal of NW Financial Group and NW Capital Markets, has died, the New Jersey-based firm announced Thursday. He was 76. Enright’s career spanned a half-century, and he was a pioneer in many now-common financing strategies.  “He was a premier banker, always innovating and searching for client solutions that would save money,”

Taxpayers shoulder a heavy burden for sports stadium subsidies, the Tax Foundation said this week. Reams of research shows that using bonds to finance sports stadiums and arenas do not generate enough revenue to justify the costs, the foundation said in a blog post Thursday. “According to the academic research, the tangible economic benefits job

The California Infrastructure and Economic Development Bank board of directors approved $26 million in loan financing for the city of Santa Cruz for two wastewater improvement system projects, IBank officials said Thursday. The funding will help the city replace and upgrade decades-old equipment with the aim of preventing costly repairs, protecting pipelines from corrosion, improving

The next generation of public policymakers and public finance practitioners will mingle with current municipal finance pros at a career forum hosted by the University of Chicago Harris School of Public Policy’s Center for Municipal Finance. During the week of Oct. 14, the CMF will hold lunchtime seminars designed to help interested students get the

After taking a hit in the wake of the deadly 2023 wildfire that devastated the West Maui town of Lahaina, municipal bonds issued for investor-owned utility Hawaiian Electric are on an upswing. The debt, trading in the secondary market as low as 63 cents on the dollar last year, had recovered to the 95 and

Municipals faced some pressure Thursday as U.S. Treasuries saw losses amid geopolitical uncertainty and mixed macroeconomic data ahead of Friday’s payrolls figure while equities were off near the close. The last large new-issues priced in the primary and secondary trading pointed to some weakness, leading to small cuts to triple-A yield curves.  Municipal bond mutual

The devastation Hurricane Helene rained on the mountain region of western North Carolina can be handled financially by governments in the short term but other municipal issuers may struggle and the long term is cloudy, analysts say. Helene hammered the area from Friday through Sunday, bringing rainfall amounts up to 31.3 inches, hurricane winds up

Municipals were a touch softer Wednesday, but outperformed U.S. Treasury weakness as investors focused on the primary market with several large new-issues pricing to solid demand. Equities were in the black to close the session. Triple-A yield curves were little changed to weaker by one to four basis points, depending on the curve, while Treasuries

Investortools and ficc.ai have partnered to stream the latter’s predictive trade levels into the former’s Investortools Dealer Network. This integration gives Investortools’ clients greater “AI-driven pricing intelligence,” allowing them to make more informed decisions and have the flexibility to incorporate their preferred real-time pricing data providers, according to a press release. Through the integration, Investortool’s

In her new role as Indianapolis-based managing director at Crews & Associates, Susan Reed aims to bring both creative ideas and a deep well of experience to bear on the challenges facing Indiana issuers. Reed, who has worked as a bond attorney and a municipal advisor and has served in a community and economic development

Municipal bonds are directly or indirectly involved in a flurry of litigation in Arizona, Oklahoma, Texas, and Utah triggered by defaults, bankruptcy, environmental concerns, or laws that punish financial firms for their stance on fossil fuels.  The outcomes of the lawsuits could determine if bonds can be issued, who is to blame for defaulted debt,

Municipals saw some weakness up front while U.S. Treasuries saw losses across the curve after Federal Reserve Chairman Jerome Powell signaled the Fed’s rate-cutting schedule was not yet certain as the U.S. economy remains strong. Equities closed in the black. USTs saw the largest losses on the short-end, with yields rising up to 7 basis

The New York Metropolitan Transportation Authority board approved its 2025-2029 capital plan last week. It could not answer the question of how it will be funded. The 2025-2029 plan devotes most of its $68.4 billion price tag to keeping the system in a state of good repair.  A new train that entered service on the

Minneapolis will bring general obligation bonds to market next week in a deal that includes funding to repair damage left by the 2020 riots after a police officer killed George Floyd. The city will sell $123.59 million of tax-exempt Series 2024 general obligation bonds via competitive sale Tuesday. The municipal advisor on the deal is

The municipal market muscled through this week by holding yields mostly steady as investors digested a large new-issue slate, heavy on tax-exempt paper, even as U.S. Treasuries were weaker until Friday’s session. Municipal triple-A yield curves closed out the week with few changes, valuations were little changed — though at attractive levels — and the

While Hurricane Helene could have short- and long-term impacts on government finances and the economy, observers say Florida’s hurricane catastrophe fund has sufficient funds to cover damages without requiring immediate replenishment. Meanwhile, for now, BofA still plans to price $233 million of water and wastewater revenue bonds for Tampa on Tuesday and $210 million of

As the election approaches, tax policy issues are moving to the fore including pass-through entity exemptions used to negate the effects of the cap on state and local tax deductions.  “If the SALT cap expires, then you’re going to see some states where they didn’t have this legislation, have to figure out what to do,

Samuel A. Ramirez & Co. has added public finance bankers in three separate offices as it continues to broaden its national reach. Cordelia Mendez joins as a vice president in the New York City office, Ayanna Louis-Charles joins as a senior vice president in south Florida and Courtney Okezie joins as a vice president in

California hospitals will get no extra time to retrofit hospitals against earthquakes after Gov. Gavin Newsom vetoed a bill that would have given them some breathing room. Senate Bill 1432 was approved by lawmakers with unanimous votes in both houses in August. Newsom announced his veto Sept. 12. Under existing regulations, hospitals will be forced

The Louisiana Bond Commission approved the sale of $620 million in aviation revenue bonds and $220 million in sales tax bonds and modified conditions for up to $1 billion in gas and fuels tax bonds it previously authorized. The commission consented to the sale of up to $575 million in general airport revenue refunding bonds