News Results

"I've never seen this level of hand wringing at the issuer level," said Matt Boles, managing director at RBC Capital Markets.

Higher interest rates are keeping arbitrage on the playing field as issuers try to play by the rules and still come out ahead.

Brandon Johnson released his $16.6 billion 2026 budget last week. The budget calls for new revenue sources, but avoids property tax hikes.

Prior to Dimensional's approval, only Vanguard held a patent to the ETF-as-a-share-class structure, but the patent expired in 2023.

The first part of exclusive research from The Bond Buyer finds that most industry optimists say funding needs will be met sometime after 2035.

Chemung Financial Corporation (CHMG), the parent company of Chemung Canal Trust Company, today reported net income of $7.8 million, or $1.62 per share, for the third quarter of 2025, compared to a net loss of $6.5 million, or $1.35 per share, for the second quarter of 2025, and net income of $5.7 million, or $1.19 per share, for the third quarter of 2024.

Yakym praised the successful effort to preserve the tax exemption throughout One Big Beautiful Bill negotiations and encouraged market advocates to keep lobbying lawmakers.

Demand may strengthen as "investors anticipate the Federal Reserve's likely path of rate cuts, which would drive yields even lower," said Tom Kozlik, managing director and head of public policy and municipal strategy at HilltopSecurities.

"It shows the chairman's understanding of the practical realities of firms...," Peter Chan, a partner at Baker McKenzie said.

This will be Charvel's second stint as the city's CFO.

Cities are responding to a state directive to remove symbols on crosswalks and other so-called distractions or risk losing state and federal funding.

The city council of Harvey voted to declare the city financially distressed in a bid for state oversight, as the mayor warned of a city government shutdown.

The bonds are rated A-plus by three ratings agencies and are expected to have serial maturities from 2026 to 2055.

"The story remains the same: solid demand is more than enough to take down the sizable new issue supply," said Daryl Clements, a portfolio manager at AllianceBernstein.

Its triple-A bonds have recovered after cheapening earlier this year under a pressure campaign from the Trump administration.

The Roosevelt Institute rolled out a new report on munis revealing the latest trends in public finance along with critiques and recommendations for alternative ways to fund infrastructure.

Multiple municipal bond offerings this week have a high exposure to climate risk, specifically high Wildfire and Hurricane Scores, according to ICE Climate Data. An $82 million offering from San Jacinto Unified School District, Calif., records a Wildfire Score of 4.9 out of 5.0, ICE reports.

The Dormitory Authority of the State of New York and New York City both saw billion-dollar-plus deals oversubscribed.?

The new-issue calendar is at $15.637 billion and boasts four mega deals.

State and local pension funds are "surviving but not thriving," said Equable in its State of Pensions 2025 report.

Maryland's Capital Debt Affordability Committee is recommending the state stick to its guns by endorsing a plan to borrow up to $1.75 billion for capital projects in the coming fiscal year, despite the job shedding inflicted by the Trump administration's plans to shrink the federal government.

The bill was a response to a charter school fraud that took the state for $400 million, but Gov. Gavin Newsom said the proposed reforms were too expensive.

Among those approved is a $117 million variable rate demand bond expected to be marketed late this year.

Earlier Thursday, the market was "chugging along, doing OK, just kind of nothing, in between slight strength to modest upticks, but the narrative changed when that bank news came out. The market really ran pretty quickly," said Chris Brigati, managing director and CIO at SWBC.

"Going forward, the staff will provide the other side with at least four weeks to make Wells submissions," SEC Chairman Paul Atkins said in a recent speech.

The attackers did not steal any data, but the firm had to rebuild its servers to get back into operation, said Albert Rodriguez, a manager at ImageMaster.

Fitch Ratings cited the hospital's growing revenue and other factors in lifting the issuer's outlook.

The city plans a competitive general obligation bond sale, as well as a sales tax revenue bond issue to help finance a professional basketball arena next year.

R. Wade Norris has joined the Washington, D.C., office of Dinsmore & Shoal as a partner to shore up operations in the firm's work in multifamily finance and public private partnerships.

Metra announced fare hikes in its 2026 budget, part of a broader regional policy requiring the Chicago Transit Authority, Metra and Pace to raise fares.

The Southeast's states rely on federal funds more than those in other regions and analysts warn those funds may be ending shortly if the shutdown continues.

"In theory at least, municipal yields should be able to stabilize here; levels remain attractive for pure income buyers while more sustainable constructive fund inflows are just enough to speak for rising issuance in the absence of meaningful reinvestment," said Matt Fabian, president of Municipal Market Analytics.

"If I wanted to target municipal finance, this would be a really good place for me to start," said Omid Rahmani, public finance cybersecurity lead at Fitch Ratings.

The financing challenges facing both Brightline projects have translated into falling bond prices.

Municipal Market analytics hired Marvis Gutierrez in response to growing demand for the firm's services and plans to keep hiring.?

Investors sued after the fund's sudden June selloff.

Legislators and transit groups are pushing to get transit reform across the finish line this month, lawmakers and stakeholders said Friday.

CUSIP Global Services today announced the release of its CUSIP Issuance Trends Report for September 2025. North American corporate CUSIP requests totaled 7,615 in September, which is down 0.5% on a monthly basis.

As the technical picture tends to turn "more favorable" during November and December, Birch Creek strategists believe "the wider new issue concessions brought about via the heavy new issue calendar will likely be rewarded."

A six-notch downgrade gives the financially troubled city a non-investment grade rating of BB-plus with a negative outlook.