In a significant financial maneuver, the Los Angeles Unified School District (LAUSD) is set to introduce $1.1 billion in general obligation bonds labeled as sustainable. With RBC Capital Markets at the helm, the bonds will enter the market on Wednesday after a preliminary retail order period scheduled for Tuesday. This initiative arrives on the heels
Bonds
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
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,
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
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
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,
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
The North Texas Tollway Authority (NTTA) is embarking on a $1.126 billion deal to seek savings through bond refundings and tenders. This deal, which is the highlight of this week’s municipal bond sale calendar, includes two series of tax-exempt debt. The first series consists of $446.14 million of first-tier revenue bonds, aiming to fund a
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
The municipal bond market experienced stability on Wednesday as the largest deals of the week priced, coinciding with over $1 billion of inflows into municipal bond mutual funds reported by the Investment Company Institute. The U.S. Treasuries remained relatively stagnant across the curve, while equities closed lower towards the end of the day. Various ratios,