Three-quarters of the way through the year, municipal bond volume has risen 3.1% compared to the same period in 2020. So far in 2021, issuers have totaled $340.99 billion in 9,082 transactions that compares to $330.71 billion in 8,577 deals in the first nine months of 2020.
The state of California once again finds itself on top but the top 10 features seven New York issuers.
One California city has found that corralling a joint powers authority isn't easy.
While UST yields rose up to five basis points out long Thursday, the current rally "that has taken the 30-year UST closer to where the 10-year yield traded a week ago has not impacted the same range in munis," said Kim Olsan, senior fixed income portfolio manager at NewSquare.
It marks a major step forward for the long-stalled high-speed train project between Dallas and Houston.
The planned fiscal 2026 increase in bonding is expected to continue for several years.
S&P cited the government's improved fiscal position as a factor in the positive outlook.
The House moves the ball forward in the budget battle with an approved plan as public finance leaders lay out the strategy for saving the tax-exempt status of municipal bonds which provides a tempting target for lawmakers searching for ways to pay for promised tax cuts.
