-
Despite some slight weakness Monday, munis continued an "impressive start to June," with yields falling 10 to 13 basis points last week, Birch Creek strategists said.
June 17 -
According to the board, the addition is an important means to enhance market transparency and is in line with its FY24 priority to expand the EMMA platform.
June 17 -
The new-issue calendar is led by the New York Transportation Development Corp. with $1.5 billion of green AMT special facilities revenue bonds for the John F. Kennedy International Airport New Terminal One project,
June 14 -
The one-notch upgrade from Fitch Ratings comes as the county plans to to sell up to $900 million in two lease revenue bond deals this summer.
June 14 -
"Even after this week's rally, absolute yields look attractive in the context of the trading range over the past three years, May's underperformance versus taxable fixed-income, and our longer-term projections for lower rates this year," J.P. Morgan strategists said.
June 13 -
"It is important to remember that as long as the Fed's next move is to lower policy rates, bonds will do well," said Jack McIntyre, portfolio manager at Brandywine Global. "The employment market is in better balance, which is very important for the Fed — even more than inflation."
June 12 -
The Biden administration's accelerated deadlines for exiting dirty energy like coal could pressure utilities already facing growing demand, the rating agency said.
June 12 -
Driven by ongoing capital expenditure funding and current refunding opportunities, airport issuance is estimated at $21 billion in 2024, with a slew of from June through September and more planned in December, according to Ramirez.
June 12 -
"We will remain cautious until CPI and the FOMC are in the rear-view mirror and as long as these don't catalyze a sell-off (since that would trigger outflows) or catalyze a sharp rally (as municipals lag rates during a sharp rally and ratios can increase optically) ... " said Vikram Rai, head of municipal markets strategy at Wells Fargo.
June 11 -
Even after paring down the capital plan, the MTA will need to issue debt, and sooner than planned. It will be issued under the MTA's transportation revenue credit rather than its congestion pricing credit, so near-term debt service costs will be higher, CEO Janno Lieber said.
June 11