<img src=”https://public.flourish.studio/visualisation/20211105/thumbnail” width=”100%” alt=”chart visualization” /> Municipals rallied Friday, fully recovering the losses from Wednesday’s selloff, as U.S. Treasury yields were mixed and equities ended up. Triple-A yields fell nine to 15 basis points Friday, depending on the scale, as investors flooded back into the market after the post-election selloff and FOMC rate cut. Those
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“We are very pleased to have Ari join HilltopSecurities to lead our structured finance and mortgage business,” Hilltop CEO Brad Winges said in the release. “Ari’s historical skillset and vision in the mortgage sector are key elements of why he is such an important hire for our firm.” HilltopSecurities hired Ari Kavour as executive managing
A rendering of the Central Ohio Transit Authority’s bus rapid transit system.Central Ohio Transit Authority Bonds are part of the plans for a transit sales tax measure voters in Columbus, Ohio, approved this week. Voters in the Central Ohio Transit Authority service area approved a sales tax measure with more than 56% in favor. The
Election workers sort mail-in ballots Tuesday in Martinez, California.Bloomberg News California voters were friendly to municipal bonds in Tuesday’s election, with a few notable exceptions. The state’s voters passed two separate $10 billion state bond measures and put their stamp of approval on at least $42.8 billion of local school general obligation bonds. Tuesday’s ballot
Jenniffer González Colón, a supporter of statehood for Puerto Rico, was elected the next governor of the island. Three of the five biggest bond referendums in the Southeast region passed on Tuesday, with voters agreeing to requests from Nashville, Tennessee; Charlotte, North Carolina; and Fairfax County, Virginia, and rejecting them in Cary, North Carolina, and
<img src=”https://public.flourish.studio/visualisation/20192719/thumbnail” width=”100%” alt=”chart visualization” /> Municipals and U.S. Treasuries improved Thursday and equities ended mixed after the Fed cut rates 25 basis points and left the door open for further cuts in December. Triple-A yields fell three to seven basis points Thursday while govies were better by up to 11 basis points, retracing some
Oklahoma Turnpike Authority Executive Director Joe Echelle said inflation boosted the cost of every line item in the 15-year ACCESS Oklahoma program.Oklahoma Turnpike Authority The Oklahoma Turnpike Authority authorized on Thursday the issuance of $1 billion of revenue bonds to continue financing the controversial ACCESS Oklahoma expansion program with a projected price tag that has
“Going into Election Day, Republicans held 57 legislative chambers nationwide, and Democrats held 41, a Republican edge that we’ve seen nationally since the Tea Party wave in 2010,” said Ben Williams, NCSL. ”We have as of right now, 54 chambers with Republican control, 35 chambers with Democratic control. We have one chamber that looks like it
Enjoy complimentary access to top ideas and insights — selected by our editors. The Bond Buyer announced the recipients of its annual Deal of the Year awards, marking the 23rd year it has recognized outstanding achievement in municipal finance. Winners have been named in 10 categories: one in each of The Bond Buyer’s five regional
Louisiana Gov. Jeff Landry wants to reform the tax system in what he says is an effort to strengthen the state’s economy.Bloomberg News Facing budget deficits of $587 million to more than $800 million starting next fiscal year, Louisiana lawmakers are convening an extraordinary legislative session to consider changes to taxes and the state’s constitution.
<img src=”https://public.flourish.studio/visualisation/20173584/thumbnail” width=”100%” alt=”chart visualization” /> Municipal bonds sold off Wednesday, following U.S. Treasuries to much higher yields in a risk-on trade after a sweeping victory by former President Donald Trump and a Republican takeover of the Senate. Equities saw massive gains on the day. The red wave that took the presidency and the Senate
“We hope to act as a resource to the industry, trying to provide some additional knowledge, research findings that can help the market,” said Martin Luby, the Center on Municipal Capital Markets’ director.University of Texas at Austin The role of capital markets in financing infrastructure is the focus of a university-based center recently launched in
With former President Donald Trump taking the White House and Republicans the Senate, municipal market participants worry that GOP control of the House will usher in major tax policy changes that could hurt the market.Bloomberg Municipal market participants Wednesday digesting former President Donald Trump’s victory and the GOP takeover of the Senate were keeping their
President Biden announces new rules to eliminate lead in drinking water in Milwaukee in October. The Midwest has a disproportionate share of the nation’s lead-lined water pipes.U.S. EPA The fight to end lead contamination in drinking water is playing out with high stakes in the Midwest. The region accounts for a disproportionate share of the
rawpixel.com / Felix/rawpixel.com – stock.adobe.com Voters appeared to approve California Propositions 2 and 4, each authorizing $10 billion of bonds, for the environment and wildfire protection, respectively, while the Los Angeles Unified School District appears on pace to receive voter approval for $9 billion of bonds. San Diego Community College District voters appeared to approve
Three-term incumbent Ohio Sen. Sherrod Brown lost his seat in a close race Tuesday night. Former President Donald Trump appeared close to re-taking the White House late Tuesday and Republicans won a majority in the Senate while the House remained too close to call. Republicans late Tuesday appeared to take control of the Senate after
<img src=”https://public.flourish.studio/visualisation/20153191/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were steady Tuesday as market participants mostly sat on the sidelines to await the results of the election and Wednesday’s Federal Open Market Committee rates decision, both of which will likely cause volatility in the near term and have repercussions on economic and monetary policy in the longer
Bloomberg News Vice President Kamala Harris and former President Donald Trump have both made a barrage of campaign promises on spending, taxation and trade policies that would come with hefty price tags. Those outlays could complicate the Federal Reserve’s plans for lowering interest rates. The Committee for a Responsible Federal Budget, a nonprofit organization that
High growth and population shifts in some areas of the country are spiking property taxes, causing taxpayer revolts and potentially endangering funds used to support bond issuance. “The property tax won’t win any popularity contests with homeowners, but it still has an important role to play in public finance,” said Jared Walczak, vice president of
The NIU campus. The university’s new debt will finance energy efficiency projects affecting roughly half of campus buildings.Northern Illinois University Northern Illinois University will issue $62 million of Series 2024 certificates of participation to finance energy-saving projects affecting roughly 50 buildings, or half of all campus infrastructure. It does so after Moody’s Ratings on Oct.
Houston Independent School District’s $4.4 billion bond proposal faces opposition in the wake of its 2023 takeover by the Texas Education Agency.Houston Independent School District Texas ballots are bursting with the most bonds among Southwest states in Tuesday’s election, topped by a two-part, $4.4 billion Houston Independent School District proposal that faces bipartisan opposition. The
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