Bonds

The New York Power Authority (NYPA) has made headlines with its recent issuance of $404.375 million in green revenue bonds, targeting retail investors initially with a portion of $104 million. This strategic move is not only indicative of the authority’s commitment to sustainable financing but is also a response to favorable credit rating upgrades from
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As the effects of climate change and extreme weather events become more pronounced, the financial burden of creating resilient infrastructure appears to increasingly fall on state and local governments. Compounded by a federal deficit that continues to spiral, these levels of government are now faced with the challenge of not only maintaining existing infrastructure but
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The municipal bond market is currently displaying a mix of stable to slightly appreciating prices, especially observed in specific segments. Recent pricing of large new issues coincides with a retreat in U.S. Treasury yields, and market participants are bracing for the Federal Open Market Committee (FOMC) rate decision that is slated for Wednesday. Many analysts,
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As the municipal bond market continues its journey through September 2023, it exhibits a mix of resilience and challenges. A closer examination reveals that while municipal bonds have shown some strengthening, they have struggled to keep pace with the gains seen in U.S. Treasury (UST) securities. Recent activity underscores this trend, with triple-A rated benchmarks
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The municipal bond market is in a state of duality, navigating through a recent surge in inflows while facing the ramifications of preceding outflows and evolving fiscal policies. Recent data reveals that municipal bond mutual funds welcomed inflows exceeding $1 billion on Thursday, marking it as the second highest influx recorded this year. Despite the
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The surge in municipal bond issuance has become a common sight in the financial market over the past few months. Various factors such as pent-up capital needs, reduced federal aid, and front-loaded issuance have driven state and local governments to actively participate in the market. The pace of issuance shows no signs of slowing down,
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California is gearing up to launch a $2.5 billion tax-exempt general obligation bond sale, marking the state’s second largest bond offering of the year. The funds raised from this sale will be allocated towards financing voter-approved projects, paying off outstanding commercial paper, and refunding existing general obligation bonds. Fitch Ratings has assigned a AA rating
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The municipal bond market has been relatively stable over the past few weeks despite rising U.S. Treasury yields and mixed equity markets. Looking at the recent inflow trends into municipal bond mutual funds, it is evident that investors have been adding significant amounts of capital into these funds, indicating a growing interest in the municipal
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