Municipal bond underwriters did not let COVID-19 stop them from writing more business during the first half of 2020 than they did in the first half of 2019.
Seven of the top 10 bookrunners wrote more business in the second quarter than they did in the first three months of the year. There are also three firms who moved up into the top 10 this year, that did not make it in the same time period of last year.
Charter schools drove the worst January ever for impairments since Municipal Market Analytics began tracking default trends, the firm said in a Feb. 5 report.
The executive director of the Puerto Rico Oversight Board suggested non-settling bondholders might be offered recoveries of about 4% of the principal due.
Blake G. Washington discussed Medicare, the MTA and more at a luncheon with the Citizens Budget Commission.
Municipals were cut up to four basis points, depending on the scale, while UST yields rose up to four basis points out long.
BlackRock's move comes as money continues to flow out of muni mutual funds into ETFs and SMAs.
Audit activity in the municipal market ebbs and flows with the IRS budget.
