Bonds

Municipals were little changed to close out a busy week in both the primary and secondary, while U.S. Treasury yields fell out long and equities rallied. “Although this round of muni market bullish reversal was pulled off one week later than Treasuries’, the rally progressed better,” said BofA strategists. The 10-year UST reached its peak

Voters in Maine rejected a much-debated proposal to replace the state’s two largest power providers with a public utility company in Tuesday’s election. Question 3 on the ballot, which asked voters to approve the state takeover of for-profit power providers Versant and Central Maine Power Company and the creation of a non-profit, publicly owned utility

Municipals were mixed Thursday, largely sitting out another swing to higher yields in U.S. Treasuries after Federal Reserve Chairman Jerome Powell said the central bank would not hesitate to hike interest rates further if needed. Equities sold off. Triple-A yields barely budged while USTs saw yields rise by 10 to 14 basis points following a

Municipals strengthened Wednesday for the sixth consecutive session while U.S. Treasury yields fell throughout most of the curve with the largest gains seen out long. Equities ended mixed. Triple-A yield curves were bumped four to nine basis points, depending on the curve, while USTs saw some weakness on the front end while yields fell up

In a troubled world, booming demand for American military weaponry has left the country in need of billions of dollars more in armaments than it can currently produce.  West Virginia is trying to meet that need. Though its footprint in the national defense sector is small, representing just .1% of the $558.7 billion in defense contracts

As usual, voters approved the lion’s share of bond issuances put before them. Charlotte-Mecklenburg School, North Carolina, voters approved the request for $2.5 billion of bonds for capital projects. Harris County Hospital District, Texas, also won voter approval to sell $2.5 billion of bonds. Prosper Independent School District voters approved three of four bond propositions:

Several large new-issues priced into a stronger market with munis seeing gains across the yield curve amid constructive secondary activity as U.S. Treasuries pared back some of Mondays losses and equities also improved. Triple-A yields fell three to five basis points while USTs made gains up to eight basis points out long. The two-year muni-to-Treasury

Munis were slightly firmer in light secondary trading to start the week, while U.S. Treasuries were weaker and equities ended the trading session up. The two-year muni-to-Treasury ratio Monday was at 69%, the three-year at 69%, the five-year at 70%, the 10-year at 71% and the 30-year at 90%, according to Refinitiv Municipal Market Data’s

Voters in Rhode Island’ will face several local ballot questions Tuesday, mostly for for local school bonds. Rhode Island is in the midst of a state-backed overhaul of its educational facilities, many of which are deemed to be outdated and in need of replacement or renovation, and local officials hoping to tap a state reimbursement

While municipal bond issuance has dropped precipitously the past two years amid volatile markets, environmental, social and governance debt has steadily grown despite issuer hesitation to designate it as such and an ever-more acrimonious political environment emerges over it. ESG issuance for the first three quarters of 2023 was at $27.970 billion, potentially on pace

States would suffer deep cuts in water infrastructure funding they receive through state revolving funds, which make up a significant corner of the municipal bond market, under a bill passed Friday by the U.S. House of Representatives. The fiscal 2024 Department of the Interior, Environment, and Related Agencies appropriations measure, House Bill 4821, totals $37.4

Washington is banking on its high credit ratings and strong demand on previous sales as it heads to market Tuesday with a $483 million competitive refunding.  The bonds will be auctioned in two series: $296.550 million various purpose general obligation refunding bonds, Series R-2024A and $186.225 million motor vehicle fuel tax and vehicle-related fees GO

The notion of channeling federal dollars devoted to infrastructure improvement into affordable housing including office conversions located near mass transit is picking up steam. Quantifying the possibilities and costs offered by the concept remains elusive but recent research is revealing new possibilities.  “We end up concluding something on the order of 10% of the existing

Two major offshore wind projects in New Jersey got the ax as their developer, Danish energy company Ørsted, reassesses its U.S. portfolio citing sustained inflation and rising construction costs. Mads Nipper, Group President and CEO of Ørsted, on Tuesday said the company was “extremely disappointed” to cancel Ocean Wind 1 and 2, a pair of offshore wind

Municipals rallied Friday across the curve sending triple-A yields lower by as much as 13 basis points as they continued to play catch up to the moves in U.S. Treasuries, which also saw more gains after a weaker jobs report further signaled Fed rate hikes may be done. Equities closed the week in the black.

Municipals rallied hard Thursday following another day of U.S. Treasury market gains while equities closed the session up as investors contemplate the end of Fed rate hikes. Triple-A yields fell 10 to 14 basis points while UST saw gains of up to 16bps out long. These were the largest gains the muni market has seen

A Pennsylvania company that operates three nursing homes is in default, and it’s a familiar story: staff shortages and a large slump in occupancy in the aftermath of the pandemic. Senior Choice Inc. failed to make interest and principal payments due Oct. 31 on its $15.9 million bond issued in 2006 by the Cambria County

Quickly rising demand for energy in Georgia has left a major state power provider searching for additional sources of electricity to meet growing near-term needs, all while keeping in mind carbon-zero commitments. Just a little over a year after Georgia Power released its Integrated Resources Plan, a blueprint for meeting power demand through 2030 and

Municipals were firmer Wednesday but underperformed a U.S. Treasury rally after the Fed held rates steady. Equities rallied as well. The municipal market was up “a touch” after the Fed announced it would keep rates unchanged at their November meeting, according to Michael Pietronico, chief executive officer at Miller Tabak Asset Management. Commenting on the

Municipals were steady to end a volatile month, as U.S. Treasuries were mixed and equities ended up. Tuesday also marked the start of the FOMC meeting, which is unlikely to contain any major surprises at the conclusion of the meeting on Wednesday, said Cooper Howard, a fixed income strategist at Charles Schwab. The Fed is