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"Bearish Treasury moves have kept some pressure on the muni market and prevented an attempt to rally during the summer season when large redemptions trump issuance," BofA Global Research said in a report.
August 18 -
Despite looming economic and social challenges, New York City's economy has proven to be more resilient than projected, New York's comptrollers Brad Lander and Thomas DiNapoli say.
August 14 -
The back half of July is starting "much like the front half with ongoing UST volatility and municipal supply staying in the forefront," said Kim Olsan, senior vice president of municipal bond trading at FHN Financial.
July 18 -
Olson, a 20-year municipal bond veteran, replaces Marjorie Henning who retired at the end of April. In his new position, he will be in charge of the Bureau of Public Finance, which manages the city's borrowing for the comptroller.
June 6 -
While fiscal 2023 and 2024 budgets remain balanced, outyear gaps increase to $4.2 billion, $6.0 billion and $7.0 billion in fiscal 2025 through 2027, respectively.
April 28 -
Mayor Eric Adams executive budget "will be released in just 51 days, giving us limited time to marshal the substantial resources we will need to stay balanced in fiscal 2023 and 2024," said OMB Director Jacques Jiha.
March 7 -
"As we spoke with our underwriting partners and our municipal advisors, given [market] volatility, we shortened that retail order period to one day," says OMB's David Womack.
February 17 -
"The large taxable refunding or combined transactions were accomplished earlier in the year when rates were relatively low," says John Hallacy.
February 10 -
"I think ESG is here to stay in our market. I think it's a natural fit with the types of infrastructure that our market finances," said MSRB CEO Mark Kim.
February 9 -
"The overall tone of the budget is one of prudency, which is correct during this current period where federal pandemic aid is winding down and there are questions about whether we enter into a recession," said Howard Cure of Evercore Wealth Management.
January 13