Municipal financial advisors saw $146.805 billion of business in 2,685 transactions in the first half of 2023, down from $167.727 billion in 3,484 deals over the same time period in 2022.
Municipal Capital Markets Group, Columbia Capital Management and Caine Mitter and Associates moved into the top 10, while Baker Tilly Municipal Advisors, Stifel Nicolaus & Co. and Swap Financial Group were ousted.
As headline risk swirls around the Fed and the transition to the Trump administration, municipals have largely stayed in their own lane. November finds the municipal market "in far better technical shape, with an attractive backdrop through at least year-end," J.P. Morgan's Peter DeGroot said.
The outlook change to negative comes in the wake of voter approval on Nov. 5 of a ballot measure requiring certain public safety spending by the city.
The Aloha State received three rating affirmations as it prepares to sell $750 million of taxable general obligation bonds.
A bond-financed rehab of the downtown sports arena is receiving pushback.
The Chicago City Council delivered a strong rebuke of Mayor Brandon Johnson's fiscal 2025 budget on Thursday, rejecting a $300 million property tax increase.
The announcement of $3.4 billion in grants for rail, roads and clean-energy efforts comes on the third anniversary of Biden's signature legislation.
