Municipals were little changed Tuesday as investors await a surge of new issuance to hit the market Wednesday and Thursday. U.S. Treasuries rallied out long and equities ended down. Two weeks into the fourth quarter of the year, munis are posting negative returns in October, down 0.56%, bringing year-to-date returns down to 1.72%, said Jason
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The financial health of publicly-funded pension plans is showing improvement thanks to booming markets, as analysts warn of complacency.   “Public plans are benefiting tremendously from favorable public and private equity markets, in addition to higher, safer returns from the global interest rate environment,” said Anthony Randazzo, executive director at the Equable Institute.  “The challenge for
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A Utah judge voided a proposed constitutional amendment on the Nov. 5 statewide ballot that raised concerns about future state funding for K-12 public schools. If passed by voters, Amendment A would have provided more flexibility for Utah’s budget by tapping excess income tax revenue currently constitutionally earmarked mainly for public education. Utah Third District
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The Governmental Accounting Standards Board has requested comment on a proposal that would add additional disclosure items related to infrastructure assets to issuers’ financial statements, a move that hopes to reexamine how such assets are recognized and measured and how issuers should go about reporting them. Joel Black, chair of the GASB said in an
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By Bond Buyer Staff October 15, 2024 12:56 PM Rank Underwriter First 9 months 2024 par amount (USD) Market share (%) Number of issues 1 BofA Securities 62.6948 billion 16.86 359 2 J.P. Morgan Securities LLC 37.0075 billion 9.95 269 3 Morgan Stanley 33.2208 billion 8.93 154 4 RBC Capital Markets 32.3722 billion 8.71 348
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Keep abreast of significant corporate, financial and political developments around the world. Stay informed and spot emerging risks and opportunities with independent global reporting, expert commentary and analysis you can trust. Subscribe to unlock this article Try unlimited access Only 1 € for 4 weeks Then 69 € per month New customers only Cancel anytime during your
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Houston dodged a blow to its fiscal 2025 budget when Texas officials Wednesday freed up state funds to help pay the city’s share of costs to remove debris created by two fierce storms this year. The situation underscored fiscal problems the nation’s fourth-largest city faces from natural disasters that could compound its growing structural budget
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RankMunicipal advisorFirst 9 months 2024 par amount (USD)Market shareNumber of issuesFirst 9 months 2023 par amount (USD millions)Market shareNumber of issues1PFM Financial Advisors LLC62.0602 billion19.4057643.4313 billion18.845002Public Resources Advisory Group45.0266 billion14.0711726.3871 billion11.441053Hilltop Securities23.4039 billion7.3235916.4167 billion7.123264Kaufman Hall & Associates Inc13.0056 billion4.07624.5247 billion1.96345Frasca & Associates12.9054 billion4.03×8.0842 billion3.51306KNN Public Finance8.0163 billion2.51544.3003 billion1.87377Acacia Financial Group Inc7.6603 billion2.39596.5488 billion2.84668Piper Sandler &
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RankMunicipal advisorFirst 9 months 2024 par amount (USD)Market shareNumber of issuesFirst 9 months 2023 par amount (USD millions)Market shareNumber of issues1PFM Financial Advisors LLC62.0602 billion19.4057643.4313 billion18.845002Public Resources Advisory Group45.0266 billion14.0711726.3871 billion11.441053Hilltop Securities23.4039 billion7.3235916.4167 billion7.123264Kaufman Hall & Associates Inc13.0056 billion4.07624.5247 billion1.96345Frasca & Associates12.9054 billion4.03×8.0842 billion3.51306KNN Public Finance8.0163 billion2.51544.3003 billion1.87377Acacia Financial Group Inc7.6603 billion2.39596.5488 billion2.84668Piper Sandler &
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RankMunicipal advisorFirst 9 months 2024 par amount (USD)Market shareNumber of issuesFirst 9 months 2023 par amount (USD millions)Market shareNumber of issues1PFM Financial Advisors LLC62.0602 billion19.4057643.4313 billion18.845002Public Resources Advisory Group45.0266 billion14.0711726.3871 billion11.441053Hilltop Securities23.4039 billion7.3235916.4167 billion7.123264Kaufman Hall & Associates Inc13.0056 billion4.07624.5247 billion1.96345Frasca & Associates12.9054 billion4.03×8.0842 billion3.51306KNN Public Finance8.0163 billion2.51544.3003 billion1.87377Acacia Financial Group Inc7.6603 billion2.39596.5488 billion2.84668Piper Sandler &
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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Goldman Sachs’ quarterly profits jumped 45 per cent to $3bn in the third quarter, boosted by its equity trading business, even as the investment bank took another hit from its retreat from retail banking. Goldman’s
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Warren Buffett walks the floor and meets with Berkshire Hathaway shareholders ahead of their annual meeting in Omaha, Nebraska on May 3rd, 2024.  David A. Grogan Warren Buffett’s Berkshire Hathaway continued to increase its stake in SiriusXM, now owning 32% of the New York-based satellite radio company. The Omaha-based conglomerate purchased roughly 3.6 million shares
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Unlock the US Election Countdown newsletter for free The stories that matter on money and politics in the race for the White House I never used to look at airline route maps too closely. But now, when I journey from one peaceful country to another, I take a keener interest in where exactly we are
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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Chinese stocks were volatile on Monday after Beijing sought to reassure investors over the weekend about its plan to increase spending to boost the world’s second-largest economy. The finance ministry on Saturday said it planned
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Keep abreast of significant corporate, financial and political developments around the world. Stay informed and spot emerging risks and opportunities with independent global reporting, expert commentary and analysis you can trust. Subscribe to unlock this article Try unlimited access Only 1 € for 4 weeks Then 69 € per month New customers only Cancel anytime during your
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