Bonds

Municipals were steady Wednesday as U.S. Treasuries were mixed fiollowing the Fed’s decision to hold interest rates. Equities ended the trading session down. As was expected, the FOMC held rates in a range between 5.25% and 5.50%, but the dot plot in the Summary of Economic Projections showed 12 of 19 members expect another 25-basis-point

Voters will determine if Polk County, Iowa will issue up to $350 million of general obligation bonds to help fund a terminal project at the Des Moines International Airport. The county board of supervisors on Tuesday unanimously approved placing a bond referendum on the Nov. 7 ballot.  The Des Moines Airport Authority, which can issue

Municipals were weaker Tuesday as triple-A yields rose in sympathy with U.S. Treasuries. Equities ended the session down ahead of the close of the Federal Open Markets Committee meeting Wednesday. Triple-A yields were cut two to seven basis points, depending on the scale, while UST yields rose four to six basis points, pushing the two-,

California’s revenues for August came in $1.3 billion above projections putting the state $75 million above the $21.9 billion expected for the first two months of the fiscal year, according to the Department of Finance. The revenues of $1.3 billion were 11.1% above the forecast of $12.16 billion, as receipts from nearly all revenue sources

Georgia Gov. Brian Kemp has suspended his state’s gasoline tax for one month as prices at the pump continue to increase. Kemp cited high fuel costs and persistent inflation when he declared a legal state of emergency last week and signed an executive order suspending Georgia’s 31.2 cents-per-gallon tax on gas and 35-cents-per-gallon tax on

It’s a foregone conclusion the Federal Open Market Committee won’t raise the fed funds target rate at its Sept. 19-20 meeting, so the market will concentrate on the updated Summary of Economic Projections and Chair Jerome Powell’s press conference. “The Fed will try to deliver a hawkish hold on September 20, also driving home the

For a market anchored by self-regulation and tax-exemption, creeping regulation and political crossfire are nothing new, but also show no sign of abating — look no further than the Securities and Exchange Commission’s “regulation by enforcement” and the hyper-politicization of environmental, social and governance investing factors. That’s the message from a group of municipal market

As the appropriations tug of war goes back and forth in Congress, municipalities are concerned about a wide range of federally-supported infrastructure projects which might end up on the chopping block. The National Association of Counties is already ringing a warning bell via a letter addressed to both chambers of Congress imploring the need  to “prioritize federal

Port and shipping industry experts discussed the past and future of New York and New Jersey’s ports at an event hosted by the Federal Reserve Bank of New York this month. The “Ports of Tomorrow” event was carried out in partnership with the Port Authority of New York and New Jersey and the Regional Plan

Municipals were a touch weaker to close out the week ahead of a smaller new-issue calendar and the Federal Open Market Committee meeting. U.S. Treasuries closed out weaker while equities were in the red. Triple-A yields rose one to three basis points, depending on the curve, while USTs rose three to four. The two-year muni-to-Treasury

Guam Gov. Lourdes Leon Guerrero let a Senate-passed $1.168 billion budget go into law without her signature, despite her concerns about use of a rainy-day fund, executive branch appropriation and “phantom” revenues. The Senate passed the budget on Aug. 30, with nine Democrats voting in favor and six Republicans voting against. Leon Guerrero, a Democrat,

As transit agencies across the country face a dreaded fiscal cliff when federal stimulus dollars dry up, those agencies that win permanent revenue from their states and local governments will boost their profile while others will see their credit erode. That’s the view of experts who spoke at a transit panel Wednesday at The Bond

Municipals were little changed Thursday as U.S. Treasuries were weaker and equities rallied. The two-year muni-to-Treasury ratio Thursday was at 63%, the three-year was at 64%, the five-year at 66%, the 10-year at 70% and the 30-year at 90%, according to Refinitiv MMD’s 3 p.m. read. ICE Data Services had the two-year at 64%, the

A record number of tourists came to New York State last year, pumping more than $78.6 billion of direct spending into the local economy. The 291.5 million tourists who visited the Empire State also generated roughly $123 billion in financial impact for the economy in 2022, according to reports issued by Tourism Economics on Wednesday.

Municipals were slightly weaker in spots Wednesday, largely ignoring the mixed reactions of other markets following the release of a hotter-than-expected consumer price index figure. The focus was on the primary where the Dormitory Authority of the State of New York priced for institutions with yields lowered by up to five basis points from the

“The current challenge has been keeping the ‘affordable’ in affordable housing,” said Steve Scharff. Title: Senior ManagerFirm: Baker Tilly Municipal AdvisorsAge: 32 Steve Scharff has been in his current position with Baker Tilly for about two years but has been working in the financial world since 2015.  What Steve offers to the firm’s clients is

“I like the complexity of the transactions that we help bring to life and to see how those transactions positively further the missions of the nonprofits,” said Gretchen Sherwood. Title: CounselFirm: Nixon Peabody LLPAge: 35 Gretchen Sherwood has developed Nixon Peabody’s charter school finance practice into a nationally respected program while maintaining excellent relations with

“As a credit analyst in healthcare, I have a front row seat for a sector undergoing immense pressure and change, a sector that affects all levels of our society at both a macro level and a deeply personal level,” Patrick Zagar said. Title: DirectorFirm: S&P Global RatingsAge: 32  Patrick Zagar has been with S&P Global

“Having a chance to talk directly about what we’re doing and why we’re doing it, it’s reinforcing, in a way,” said Claude Lockhart Jr.Claude Lockhart Jr. Title: DirectorFirm: StifelAge: 31 Claude Lockhart Jr. lines his desk with “souvenirs” from bond projects he’s worked on. Letters and thank you notes, gifts and plaques from cities that

Orrick, Herrington & Sutcliffe LLP Managing Associate Joshua Bonney calls his work at Orrick “a match made in heaven.”© Gittings Photography Title: Managing AssociateFirm: Orrick, Herrington & Sutcliffe LLPAge: 33 Early in his career, Joshua Bonney, a managing associate at Orrick, Herrington & Sutcliffe LLP, has already worked with some of the municipal bond market’s