In the wake of significant social upheaval and the economic challenges posed by the pandemic, Minneapolis is moving towards a brighter future with a strategic issuance of general obligation bonds. This upcoming offering, aimed at raising $123.59 million through tax-exempt Series 2024 bonds, stands as a testament to the city’s commitment to recovery, rehabilitation, and
Bonds
Municipal bonds, commonly known as munis, represent an important segment of the fixed-income market that often garners attention from both institutional and retail investors due to their tax advantages. Recently, the municipal bond market displayed notable stability, even in the face of a fluctuating Treasury market. As the week unfolded, the dynamics of supply, demand,
The municipal bond market is currently experiencing a steadiness that has drawn attention from investors, coupled with fluctuations in broader financial markets. This period has witnessed significant capital inflows into municipal bond mutual funds, signifying a robust investor interest. According to reports by the Investment Company Institute, $1.329 billion flowed into these funds for the
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
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
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,