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Richmond issued $154.1 million in pension obligation bonds in a refunding that terminates swaps, ends a county intercept, and extends the final maturity.
September 8 -
Tollway revenue in the first half of 2022 surpassed pre-pandemic 2019 levels in five of the months.
September 8 -
The "no SALT no deal" Democrats appear ready to support the compromise reconciliation package negotiated in the Senate.
August 1 -
West Virginia Sen. Joe Manchin’s wholesale refusal to back the climate and tax measures in Democrats’ Build Back Better bill deals a final blow to any hopes of passing any provisions of the muni agenda before November.
July 15 -
More firms are revising issuance projections downward due to lower refunding and taxable volumes. Many participants say it is unlikely the market will hit issuance records reached in 2021 and 2020.
June 10 -
Total May volume was $31.167 billion in 750 deals versus $35.358 billion in 1,295 issues a year earlier. In a continuing trend, new-money issuance was up 14.2% in May year-over-year.
May 31 -
Panelists at the NFMA 2022 annual conference said they aren’t holding out for advance refunding to be reinstated anytime soon.
May 19 -
Deep-in-the-red municipal returns are not helping assuage investor concerns, creating a negative feedback loop that has yet to see a pause.
May 16 -
Assuming the taxable and tax-exempt rates are highly correlated (and in fact they are), we can show that the expected cost of a fairly priced callable bond exceeds that of an optionless bond.
May 16Kalotay Advisors LLC -
The long bond on the exempt $955 million tranche have traded stronger in the secondary market since pricing.
April 7