Bonds

Former President Donald Trump’s pick for vice president for the 2024 presidential election ticket, Sen. J.D. Vance, R-Ohio, has a brief and unorthodox legislative history that touches lightly on municipal market priorities, including aversion to the state and local tax deduction, federal housing grants for sanctuary cities, green energy tax credits and environmental, social and

The Financial Industry Regulatory Authority has fined Philadelphia-based broker-dealer Janney Montgomery Scott $65,000 for reporting inaccurate times of trade on 391 municipal securities transactions, violating Municipal Securities Rulemaking Board Rules G-14 on time of trade and G-27 on supervision. Without admitting or denying the findings, the firm agreed to a censure and a total fine

Enjoy complimentary access to top ideas and insights — selected by our editors. The Dormitory Authority of the State of New York ranked first among the Top 10 issuers in the first half of 2024, helped by a $2.9 billion deal in March. The Florida Development Financing Corp., Massachusetts, the Los Angeles Unified School District and

Enjoy complimentary access to top ideas and insights — selected by our editors. Municipal bond issuance jumped 37.2% in the first half of 2024, rising to $237.372 billion from $172.959 billion in the first half of 2023. The increased par amount was achieved in 4,016 deals in 1H 2024, up from 3,536 in 1H 2023,

North Dakota’s Bismarck State College on Tuesday returned to market for the first time since 2015 with $30 million of revenue bonds. The proceeds will be used to finance the construction of an athletic center, part of a transformation from community college to modern polytechnic institution that it hopes will reverse enrollment declines.  The North

First Eagle Investments hired Purva Patel as managing director and senior investment specialist on its high-yield municipal credit team. Patel started July 18 and is based in Chicago.  Patel joins First Eagle from Nuveen Investments, where she was senior vice president for over two decades and managing director since 2019.  Patel’s hire boosts First Eagle’s

The Texas Water Development Board approved an up to $1.8 billion State Water Implementation Revenue Fund for Texas (SWIRFT) bond issue on Tuesday, along with nearly $3 billion in requests to use the fund to finance local water projects, including seawater desalination in Corpus Christie and a reservoir and pump station expansion in Brazoria County

Municipals were little changed in secondary trading Tuesday as the busy primary market took focus, led by two billion-dollar-plus deals from the Texas Transportation Commission and South Carolina Public Service Authority. U.S. Treasuries were firmer and equities were up toward the close. The two-year muni-to-Treasury ratio Tuesday was at 63%, the three-year at 65%, the

The First Circuit Court of Appeals signaled an interest in revisiting its decision that Puerto Rico Electric Power Authority bond holders have a lien on net revenues. The three judges who ruled on the lien in mid-June said Monday they wanted written responses from all parties on the petitions for rehearing or rehearing en banc.

Municipalities face the most difficulty in attracting and winning new hires compared to all other financial sector participants, according to Arizent’s workforce development research.  The difficulty comes as governments seek to attract potential young hires who are skeptical of the public sphere and its potential for career progress in the post-COVID-19 period. This disillusionment has

Senior living facilities operator Midwest Christian Villages — which does business as Christian Horizons and has issued bonds through the Illinois Financial Authority and the Health and Educational Facilities Authority of Missouri as Christian Homes, Inc. —filed for Chapter 11 bankruptcy last week. Christian Horizons and its affiliates filed for Chapter 11 bankruptcy in the

Transcription: Transcripts are generated using a combination of speech recognition software and human transcribers, and may contain errors. Please check the corresponding audio for the authoritative record. Mike Scarchilli (00:04):Hi everyone and welcome to the Bond Buyer Podcast, your essential resource for insights into everything municipal finance. I’m Mike Scarchilli, editor in chief of the

Costly plans to tackle climate and water supply challenges in the Southwest may be stalling amid concerns over funding.  Austin, Texas, officials tapped the brakes last week on seeking voter approval for general obligation bonds that would help finance a comprehensive climate implementation program, pushing a potential ballot measure for the debt beyond this November’s

On the heels of President Joe Biden’s departure from the presidential race, munis were mixed Monday. U.S. Treasuries gave back some early gains, ending the day slightly weaker, while equities ended up. The two-year muni-to-Treasury ratio Monday was at 63%, the three-year at 65%, the five-year at 66%, the 10-year at 65% and the 30-year

Oregon Gov. Tina Kotek has invoked the Emergency Conflagration Act at least six times in the past several days in response to rampant wildfires that have hit the state. The state experienced thousands of lightning storms resulting in 100 new fires last week, Kotek said during a press briefing on Friday. Three of the blazes

The day after President Joe Biden’s abrupt decision to drop out of the 2024 presidential election, municipal market participants’ attention turned to concerns over market volatility, whether a final Democratic ballot would include bond-friendly candidates, and the impact on high-stakes House races that will prove crucial next year to priorities like preserving the municipal bond

Tejon Ranch, the largest stretch of private land in California, is tapping the municipal bond market for $61.6 million to expand the commercial center roughly 83 miles north of downtown Los Angeles. Encompassing roughly 270,000 acres, or about 420 square miles, the mixed-use property owned by the publicly traded Tejon Ranch Co. has long been

Inflows into high-yield muni mutual funds have continued over the past several weeks due to positive performance, expected Federal Reserve rate cuts and market participants’ desire to lock in higher yields. The high-yield sector continues to show strength, with inflows of $364.4 million for the week ending Wednesday, marking 13 straight weeks of inflows, according

Florham Park, New Jersey-based broker-dealer The Jeffrey Matthews Financial Group has been censured and fined $17,500 by the Financial Industry Regulatory Authority for failing to comply with Regulation Best Interest, violating Municipal Securities Rulemaking Board Rule G-27 on supervision as well as FINRA Rules 3110 and 2010. The firm consented to the penalty without admitting

Chicago Transit Authority Chief Financial Officer and Treasurer Jeremy Fine is leaving the agency, CTA President Dorval Carter, Jr., announced at a Wednesday meeting of the CTA’s Committee on Finance, Audit and Budget. Fine will join the Illinois Institute of Technology, CTA spokesperson Manny Gonzales said. Officials at the committee meeting said the CTA made

Erlanger Health of Chattanooga, Tennessee, was upgraded by Moody’s Ratings to Baa1 from Baa2 and by Fitch Ratings to A-minus from BBB-plus. Both ratings agencies have positive outlooks on their rating. The Chattanooga Health, Educational and Housing Facility Board will issue $322 million of bonds on behalf of Erlanger, in a negotiated deal the week