Education issuance in the first half of 2024 rose 27% year-over-year, increasing to $64.516 billion across 1,646 issues from $50.796 billion in 1,559 transactions from 1H 2023.
Supply was led by K-12 education at $40.971 billion, up 7.9% year-over-year.
Higher education issuance, though, surge 103.9% to $22.504 billion, helped by large deals from
Source: LSEG
In the remaining days of this year, "taxable rates continue to be pressured but munis are finding a stable, even supportive, bidside," said Kim Olsan, a senior fixed income portfolio manager at NewSquare Capital.
Moody's Ratings said the 2025 budget that passed Chicago's City Council this month won't materially alter the credit profile of the city, which it rates Baa3.
Howard Jarvis Taxpayer Association has until the end of January to file briefs in its case challenging San Jose's pension obligation bond validation.
The Trump administration will bring a shift in infrastructure priorities.
Several metropolitan districts, which finance public infrastructure for housing developments, tapped contingent liquidity for debt service payments this month.
Munis "continued their slide" last week as yields rose an average of 23 basis points across the curve as the Fed Chairman Jerome Powell signaled the Fed will take a "more cautious approach" on interest rate cuts next year, said Jason Wong, vice president of municipals at AmeriVet Securities.
