The municipal bond market experienced its seventh straight year of positive performance in 2020, but will the progress toward recovery continue in the second half of the year? For insight, Michael Scarchilli, editor-in-chief of The Bond Buyer, sat down with PNC EVP and public finance head Rob Daily, Hilltop Securities vice chairman and head of public finance David Medanich, and City of Dallas Chief Financial Officer Elizabeth Reich for their viewpoints on the macroeconomic picture and prospects for the U.S. munis market. The panel also discusses how the first two quarters of the year have fared with additional government stimulus programs and the rollout of the COVID vaccine.
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Supply has "declined materially, allowing dealers to take a breather, with their inventories dropping significantly, while retail investors do not seem to be spooked by rate volatility, lower taxes and possible threats to the tax-exempts, and continued putting money into tax-exempts at a brisk pace," said Mikhail Foux, managing director and head municipal research and strategy at Barclays.
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Pewaukee, Wisconsin, is the target of lawsuits from a private industry group over a transportation utility fee that was struck down earlier this year.
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George Joseph McLiney, Jr. founded municipal bond underwriting firm McLiney and Company. He was devoted to his family and small issuer clients.
November 22 - States eye green bonds, superfund and cap-and-invest programs to fund resilient infrastructure needs
The tools come with risks, like legal challenges to "polluter pay" funds or potential corporate departures with cap-and-invest programs.
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Longtime firm members Elaine Brennan and Charles Stavitsky hope to maintain continuity after their promotions.
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The prepaid electricity bond deal issued by the California Community Choice Financing Authority for the Clean Power Allliance was record-setting in size.
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