Municipal issuance surged 31.7% in the first quarter of 2024, rising to $98.245 billion from $74.625 billion in the first quarter of 2023. The increased par amount was achieved in 1,607 deals in Q1 2024, up from 1,397 in Q1 2023, according to LSEG data.
BofA Securities remained at the top of the list, with $14.260 billion, accounting for 14.5% of the market. The top 10 saw some shuffling, but no new entrants cracked it.
The top 10 bond counsel for healthcare deals accounted for $12.32 billion in 63 deals in the first half of 2024.
Municipals are outperforming USTs to a large degree this month, with investment grade munis seeing positive 0.81% returns in November and 1.63% year-to-date. USTs are in the red at -0.40% in November with only 0.96% positive returns in 2024.
S&P Global Ratings placed Chicago's general obligation bond rating on watch negative Tuesday, warning against heavy reliance on one-time budget solutions.
Debt issuance and public-private partnerships could be in the financing mix for projects considered by the Arizona Water Infrastructure Finance Authority.
Panelists at the SEC, FINRA and MSRB joint Compliance Outreach Program looked at the state of municipal advisor regulation and how the Commission could respond going forward.
The baseball team says the county's delays in approving the bonds set back construction and increased the costs.
