Of the $85.439 billion of par issued, municipal financial advisors saw $84.927 billion of business in 1,184 transactions in the first quarter of 2024. This is up from the $64.644 billion in 1,004 deals in the first quarter of 2023, out of a total of $64.646 billion.
Kaufman Hall & Associates, Piper Sandler and Montague DeRose & Associates moved into the top 10, while CSG Advisors, Estrada Hinojosa and RBC Capital Markets were bumped.
Source: LSEG
"This year, with the tax-exemption clearly threatened, primary calendars should (although, of course, might not) be larger, putting a $500 billion full-year supply total in range, with $451 billion already in the books through 46 weeks," said MMA's Matt Fabian.
Drexel Hamilton and four of its representatives were charged by the Financial Industry Regulatory Authority for violating the retail order period eligibility criteria set by municipalities.
Extending tax cuts from TCJA is viewed as fiscally problematic.
The decision is expected to be appealed to the Georgia Supreme Court and the ruling could have implications for the muni bond industry.
The low-rated, Phoenix-based university turned to a public debt sale after refinancing maturing outstanding bonds with bridge loans.
The group of five banks deny long-standing charges from a Minnesota-based whistleblower that they conspired to artificially inflate the rates on variable-rate demand bonds.
