Of the $312.508 billion of par issued, municipal financial advisors saw $312.178 billion of business in 5,531 transactions in 2023. This compares to the $305.035 billion in 5,934 deals in 2022, out of a total of $305.149 billion.
Caine Mitter & Associates and RBC Capital Markets moved into the top 10, while Piper Sandler & Co. and Kaufman Hall & Associates were bumped to the top 15.
While Friday's muni session was muted, the damage of a volatile UST market, paired with low new-issue supply and year-end positioning, has weighed on the asset class in December.
A decline in debt service coverage drove S&P's four-notch downgrade for Salinas, California, sewer revenue debt, which it placed on CreditWatch negative.
The new Congress will have a full plate including deciding the fate of the Tax Cuts and Jobs Act and Internal Revenue Service funding in a legislature that's already showing cracks of disagreement.
Kotek has spent the past month working on a very busy agenda involving housing, fires, transportation and construction labor agreements.
High-yield funds saw outflows of $413.6 million compared to the previous week's outflows of $71 million.
Six Texas cities sued the state comptroller over a rule that altered where sales taxes would be collected on certain online purchases.
