Municipal Finance
Ohio wins ‘triple-A Triple Crown’
Friday’s S&P upgrade to triple-A follows similar moves by Moody’s Investors Service last week and Fitch Ratings last year.
Read MoreMunis ignore UST weakness after jobs report; forward supply falls
The new-issue calendar comes in just over $3 billion, of which is $847 million of state personal income tax revenue bonds from the Empire State Development in three competitive sales.
Read MoreHigher ed sector outlooks mixed for 2024
“Higher education is going to be facing continued challenges in the near term,” said Tom Kozlik, managing director at Hilltop Securities.
Read MoreMunis firmer ahead of jobs report; focus turns to year-end supply slowdown
LSEG Lipper reported Thursday that investors pulled $144.5 million from muni mutual funds for the week ending Wednesday after outflows of $58.9 million the week prior.
Read MoreMunis improve while billion-dollar-plus deals price
Municipal mutual fund losses continued last week as the Investment Company Institute Wednesday reported investors pulled $475 million from the funds in the week ending Nov. 29 after $97 million of outflows the previous week.
Read MoreCity of Chicago, Sales Tax Securitization Corp. win Deal of the Year
The $1.7 billion financing included Chicago’s first social-designated bonds and a cross-credit refunding tender and addressed initiatives related to affordable housing and community development.
Read MoreMunis little changed to start the week
This week’s $9.4 billion calendar “should easily be absorbed as it is set to be the last full primary calendar of the year, given the Fed meeting the following week and then Christmas and New Year’s holidays,” Birch Creek Capital strategists said in a weekly report.
Read MoreMoody’s upgrades Ohio to Aaa
Moody’s, which last rated the state triple-A in 1979, pointed to an economy that’s “poised for diversification and growth.”
Read MoreMunis open December firmer ahead of $9B-plus deal slate
Pennsylvania leads the new-issue calendar with $2.1 billion of GOs in four series via the competitive market while the New York City TFA will bring another $1.4 billion of exempts and taxables.
Read MoreNewsom-DeSantis debate devolves into shoutfest
Both debaters made salient points in defense of their positions, although at times they spoke over the other.
Read More