Bonds

When Alfred H. Williams got his start in the industry, the only way to know what was in the market was the “blue list.” “Most people had their blue list delivered to their office,” said Glenn Williams, Williams’s son. “Along with the morning paper, we had a blue list on our front porch.” Williams’s dedication

Longtime municipal trader Tom Greene is retiring after more than a half-century in the business. Greene is retiring from Wintrust Wealth Management, where for more than a decade he was institutional fixed income manager and head of the institutional municipal bond desk. Greene came out of retirement to work for Wintrust; prior to that, he

“The risks to the budget we are facing include stock market volatility, uncertainty around federal policy and tariffs, which could have some impact on California,” said Finance Director Joe Stephenshaw.California Department of Finance The devastating fires affecting Los Angeles took center stage Friday when California’s finance director presented Gov. Gavin Newsom’s proposed $322.2 billion budget.

<img src=”https://public.flourish.studio/visualisation/21116027/thumbnail” width=”100%” alt=”chart visualization” /> Municipals could not ignore the sharp selloff in U.S. Treasuries Friday following the hotter-than-expected jobs report as both markets saw losses across the curve. Equities also closed with large losses as more market participants expect the data to temper Federal Reserve rate cuts.  The December jobs report took a

John Miller joined the boutique firm First Eagle Investments in late 2023 where launched a high-yield fund that climbed to $5 billion the first year with returns of almost 12%.First Eagle First Eagle Investment’s new high-yield municipal bond fund ballooned from scratch to more than $5 billion in its first year — and generated market-beating

East High School in Denver. Moody’s Ratings upgraded Denver Public Schools’ general obligation ratings ahead of an $806 million bond sale later this month.Adobe Stock Denver Public Schools will sell more than $800 million of bonds later this month, buoyed by a ratings boost from Moody’s Ratings, which cited the district’s strong management for the

Daniel Wiles retired from Los Angeles County in December, but continues to serve on the Municipal Securities Rulemaking Board.MSRB Daniel Wiles has lived in southern California for more than two decades, but it hasn’t altered the ingrained humility of the Minnesota native. Wiles, who retired — mostly — from a long municipal finance career at

Homes in Larchmont, in New York’s Westchester County, which received and S&P upgrade to AAA>Bloomberg News Westchester County is ringing in the new year with a new AAA rating from S&P Global Ratings.  S&P’s analysts cited growth in the county’s reserves, conservative budgeting and strong sales tax revenue as the reason for Tuesday’s upgrade from

<img src=”https://public.flourish.studio/visualisation/21101826/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were steady throughout most of the curve outside of small bumps on the short end while municipal bond mutual funds flipped back to inflows for the first week of the year. U.S. Treasury yields fell slightly and equities were mixed. Investors added $842.4 million to municipal bond mutual

The St. Paul hospital campus of Children’s Minnesota. The nonprofit health system plans a bond sale the week of Jan. 13..Children’s Minnesota Nonprofit health system Children’s Minnesota will refinance some debt and take out new debt to fund an electronic records transition, renovations at three hospitals and the purchase of medical equipment. The city of

The Gandy Bridge across Old Tampa Bay. Florida sold bonds Wednesday to finance the building and repair of bridges and acquire right-of-way for roads.Bloomberg News Florida sold $131.9 million of bonds Wednesday with double-barreled backing from the state’s fuel taxes and full faith and credit pledge. The Florida Department of Transportation sold right-of-way acquisition and

North Carolina State Treasurer Brad Briner said his appointments to the state’s Investment Advisory Committee would improve the pension system’s growth. The North Carolina Local Government Commission approved several bond deals at its meeting Tuesday. Approved were $252 million, $90 million and $45 million of bonds for Mecklenburg County, a $200 million bond for the

<img src=”https://public.flourish.studio/visualisation/21085078/thumbnail” width=”100%” alt=”chart visualization” /> Municipals sold off Wednesday, with the largest losses out long, while U.S. Treasuries closed with small gains and equities were mixed after Fed meeting minutes showed a more cautious approach and slower pace to rate cuts. Muni yields were cut up to 12 basis points, depending on the curve,

Judges challenged both sides during a hearing on whether the U.S. government should be held responsible for COFINA bondholder losses.jiawangkun – Fotolia Appeals court judges sharply questioned both sides at a hearing to determine whether the United States government should be held responsible for losses by Puerto Rico Sales Tax Corp. (COFINA) bondholders. If the

“We have a sort of ideological divide in the Republican party that’s gotten to the point where it’s intractable on some issues, in particular, anything spending and debt related,” said Joshua Huder, senior fellow, Government Affairs Institute at Georgetown University. Georgetown University Political prognosticators are looking forward to the new Congress and seeing the result of

The SEC has asked for feedback on the existing collection of information for Rule 15c2-12 on disclosure.Bloomberg News The Securities Industry and Financial Markets Association is urging the Securities and Exchange Commission to consider revamping disclosure rule guidelines and says the commission underestimates the burden the rule puts on underwriters. SIFMA outlined its concerns over

Texas Attorney General Ken Paxton addresses the Conservative Political Action Conference in February 2024. On Tuesday, he announced his office will end reviews of Bank of America, Morgan Stanley, and JP Morgan after they withdrew from the Net-Zero Banking Alliance.Bloomberg News Texas Attorney General Ken Paxton lauded recent moves by Bank of America, Morgan Stanley,

A yard sign in New Liberty, Iowa, in 2023. Carbon capture and storage projects, including pipelines to transport the CO2, have faced opposition from local landowners and environmental groups.Bloomberg News Carbon capture — a process with proponents and opponents on both sides of the political spectrum — may be at a pivotal point in the

Enjoy complimentary access to top ideas and insights — selected by our editors. From the personnel shifts among various firms following Citi’s exit from the muni business to the evolution of the buy-side, including the massive growth of separately managed accounts, as well as major regulatory changes, 2024 brought substantial changes to the public finance

<img src=”https://public.flourish.studio/visualisation/20997687/thumbnail” width=”100%” alt=”chart visualization” /> Municipals had a stronger tone Tuesday as investors closed their books ahead of the New Year holiday while U.S. Treasuries were mixed and equities saw losses for the final session of 2024. While municipals have outperformed USTs on the whole in 2024, they will close December with losses. How

A deal backed by United Airlines to finance upgrades at Houston’s George Bush Intercontinental Airport was one of many billion-dollar-plus deals in Texas in 2024.Houston Airport System In a record year for municipal bond issuance, Texas set a record of its own. Issuers in Texas sold $67.88 billion of bonds in 2024, according to LSEG