The top bond counsel firms combined for a total of $292.177 billion in 6,406 transactions during the first three quarters of the year, down from the $343,709 billion in 9,139 deals over the same period in 2021.
Only three firms remained in the same spot at this point last year: Orrick Herrington & Sutcliffe, Kutak Rock and Norton Rose Fulbright. Bryant Rabbino and Butler Snow entered the top 10, while Stradling Yocca Carlson & Rauth and Gilmore & Bell were bumped further down in the top 20.
High-yield funds saw $608.9 million of inflows compared with inflows of $150.3 million the week prior.
"Volatility creates all kinds of opportunities in the municipal space, not just for tax-loss harvesting, but for positioning and parts of the yield curve that might be undervalued or certain sectors or states that are poised to perform well going into yearend," said Tim McGregor, a managing partner at Riverbend Capital Advisors.
AI champ Nvidia and three other tech companies are driving a stock market surge resulting in California revenues coming out $7 billion above expectations set when the 2024-25 budget was approved in July.
The Republicans are using "magic math" to disguise the cost of extending the TCJA, Sen. Elizabeth Warren said.
The future of infrastructure spending in doubt, helping to drive unity among professionals who interact with the municipal market.
Federal Agencies are requesting billions of dollars to aid states in disaster recovery efforts.
