The 10 largest underwriters of electric power issuance in the first half of 2024 accounted for $8.68 billion.
Morgan Stanley was first in $2.21 billion, followed by J.P. Morgan with $1.74 billion and Goldman Sachs with $1.34 billion.
Chicago Mayor Brandon Johnson on Wednesday proposed a $17.3 billion fiscal year 2025 budget that calls for a $300 million property tax increase, but does not touch pension funding levels.
Municipals largely stayed in their own lane Wednesday, digesting the large slate of new issues as supply dwindles heading into election week, with Bond Buyer 30-day visible supply falling to $5.56 billion.
The future of infrastructure spending is in doubt post-election.
California's measure to lower the threshold of voter approval for bond measures will impact future transportation funding.
Nearly $1 billion of outstanding BABs may still be called back before yearend.
After a strong jobs report this month drove mortgage rates higher, the Midwest is seeing more bonds financing loans to single-family and multifamily homebuyers.
