Municipals were little changed Thursday as muni mutual funds saw inflows come in strong and another busy day in the primary market, led by an upsized $3.2 billion of transportation bonds from the New Jersey Transportation Trust Fund Authority. U.S. Treasuries were weaker, with the greatest losses out long, and equities ended up. The two-year

Municipals were firmer Wednesday as muni mutual funds saw inflows top $2 billion and Pennsylvania led the new-issue calendar with $1.6 million of general obligation bonds in three series. U.S. Treasury yields fell slightly and equities ended up. The two-year muni-to-Treasury ratio Wednesday was at 63%, the three-year at 62%, the five-year at 64%, the

California federal and state lawmakers broke ground for a 750-acre project to restore the Salton Sea that received $250 million from the federal Inflation Reduction Act. The Salton Sea is a shallow, landlocked, highly salt lake in Riverside and Imperial counties in southern California near the Mexican border. Funding for a series of projects, including

Municipals were little changed Tuesday as investors await a surge of new issuance to hit the market Wednesday and Thursday. U.S. Treasuries rallied out long and equities ended down. Two weeks into the fourth quarter of the year, munis are posting negative returns in October, down 0.56%, bringing year-to-date returns down to 1.72%, said Jason

Florida continues to work to reduce its debt load, offering a tender to holders of $1.4 billion of bonds, nearly 10% of its par outstanding, using its own cash without the sale of refunding bonds. Issuers have turned to tenders since the Tax Cuts and Jobs Act of 2017 eliminated the tax-exempt advanced refunding option.

Third quarter trade count this year has remained steadily above the one million mark, a trend that the Municipal Securities Rulemaking Board said could be a fundamental change in the market after a few less than consistent years. Trade counts increased 13% compared to the third quarter of 2023 and year-to-date average daily trade count

Muni advocates are gearing up for a contentious tax fight next year, particularly if Kamala Harris should prevail in the presidential election, as Congressional Republicans are already digging in with a nationwide tour preemptively attacking the tax policies of the current Vice President. On Tuesday, Rep. Jason Smith R- Mo., Chairman of the House Ways

Cook County, Illinois, officials released a $9.89 billion executive budget recommendation Thursday, after saying in a press briefing Wednesday that the nation’s second-most populous county will see no new taxes or layoffs. Cook County Board President Toni Preckwinkle said 56 open positions are being cut. The eliminated positions were ones the county anticipated filling with

The Florida Hurricane Catastrophe Fund remains in “very good position” after Hurricane Milton, according to the head of Florida’s Division of Bond Finance. But, Ben Watkins on Thursday noted that only modeled losses are available for Hurricane Helene, which hit in late September, and no figures have been advanced for Milton yet. The CAT fund

Enjoy complimentary access to top ideas and insights — selected by our editors. Remembered for his positive and cheerful attitude and willingness to pitch in wherever needed, retired Bond Buyer reporter and municipal market fixture Harold “Chip” Walter George Barnett, Jr. died on Monday. He was 67. Barnett suffered from pulmonary fibrosis, “a disease related

Investor demand for bond insurance remained strong during the first three quarters of 2024 as the amount of debt wrapped by bond insurance rose 26.8% year-over-year. Municipal bond insurers wrapped $28.921 billion in the first three quarters 2024, an increase from the $22.814 billion insured in the first three quarters of 2023, according to LSEG