Bonds

Municipals saw some pressure on long rates as U.S. Treasuries sold off and equities made gains. Triple-A benchmarks saw a basis point cut on bonds outside of 2035 but were largely unchanged otherwise. Ratios fell on the moves in UST. The five-year was at 46%, 67% in 10 and 76% in 30, according to Refinitiv

When property owners in Ojus, Florida, wanted to upgradefrom septic systems to sewers, Miami-Dade County turned to Drexel Hamilton LLC to manage the municipal bond deal that made it happen. Drexel Hamilton,the investment bank 100% owned and operated by military veterans, sole managed its first deal in the municipal market space in early December —

The year winds down with another day of an unchanged muni market and slightly weaker U.S. Treasury market while equities were mixed. Triple-A benchmarks were left unchanged and ratios were also little changed. The five-year was at 47%, 70% in 10 and 78% in 30, according to Refinitiv MMD’s 3 p.m. read. ICE Data Services

The Internal Revenue Service and Treasury Department’s regulation project on Libor will likely result in final guidance this coming year. Market participants expect that Treasury’s Office of Management and Budget will release the final regulation sooner rather than later. The cessation of Libor matters because existing debt and contracts may reference it, potentially impacting variable-rate

Municipals were thinly traded and benchmark yields little changed while U.S. Treasuries were a tick better on the 10- and 30-year and equities continued their march upward. Triple-A benchmarks were left unchanged and ratios were also little changed. The five-year was at 47%, 70% in 10 and 78% in 30, according to Refinitiv MMD’s 3

Glenn Rudebusch, executive vice president and senior policy advisor at the Federal Reserve Bank of San Francisco, will step down next month after a career spanning more than three decades at the U.S. central bank. Rudebusch served as an economist with the Federal Reserve Board of Governors from 1986 to 1994. He then joined the

Two New York City pension funds have successfully completed the divestment of securities related to fossil fuel companies, Mayor Bill de Blasio and Comptroller Scott Stringer announced Wednesday. The Trustees of the New York City Employees’ Retirement System (NYCERS) and the Board of Education Retirement System (BERS) said the action brings their total divestment across

Moody’s Investors Service said it revised the outlook on Jackson, Mississippi, to stable from under review. At the same time, it confirmed the Ba2 rating on the city’s water and sewer system revenue bonds. About $191 million of debt is outstanding. “The stable outlook reflects our expectation that rate increases will enable it to improve

Berwyn, Illinois’ ratings remain intact after a review ahead of its $99 million general obligation debt refunding, restructuring and new money issue that will provide budgetary relief and pay down unfunded public safety pension liabilities. S&P Global Ratings had put the city’s BBB GO and A-minus securitization ratings on CreditWatch with developing implications Sept. 30

In some ways, the pandemic has expanded the municipal market’s use of technology. How are participants using these new tools in an industry that often lags behind? Experts Unmesh Bhide, CFA, chief product officer and co-founder of PricingDirect, Lumesis CEO Gregg Bienstock and Munite/PFM director of municipal investor relations John M. Murphy join moderator Lynn

What’s ahead in public finance? Join San Diego County Water Authority finance director and treasurer Lisa Marie Harris, City of San José deputy director of debt and Treasury management Nikolai J. Sklaroff and City and County of San Francisco public finance director Anna Van Degna in this Arizent Leaders panel discussion to explore this and

Higher education credit downgrades remain more likely than upgrades next year as colleges and universities cope with the latest form of the COVID-19 virus, analysts at Fitch Ratings said. “The neutral sector outlook for U.S. colleges and universities reflects Fitch Ratings’ expectation for some enrollment recovery, solid state budget prospects and good levels of budgetary

Municipals were little changed with barely a trade to point to, keeping with the trend of sitting on the sidelines while U.S. Treasuries saw losses, more so out long, and equities made gains. Triple-A benchmarks were left unchanged and ratios were slightly lower on the moves in UST. The five-year was at 47%, 69% in

U.S. Commerce Secretary Gina Raimondo looked out at the Economic Club of New York luncheon gathering. “It’s been a hard year. We can’t sugarcoat that,” the former Rhode Island governor said. “But there are a lot of reasons to be optimistic … We ought to take a second to look at the bright side.” One

Municipals continued on the unchanged path with sparse trading and no primary to speak of for guidance, keeping the asset class in idle mode to end 2021. The Investment Company Institute reported $91 million of inflows into municipal bond mutual funds in the week ending Dec. 15, down from $517 million in the previous week.

The Puerto Rico Oversight Board filed a lawsuit against the governor and government agencies to stop implementation and enforcement of pension laws it says will add $8.3 billion of retirement benefits for government employees. The board filed the suit in the U.S. District Court for the District of Puerto Rico late Monday against Gov. Pedro

Municipals were little changed in quiet trading with few prints to direct benchmark yields in any direction while the pendulum swung to risk-on with equities seeing large gains and U.S. Treasuries slumping back to losses. Triple-A benchmarks were left unchanged, and ratios fell. The five-year was at 48%, 69% in 10 and 78% in 30,

Transcription below: Mike Scarchilli: (00:00)Hi, this is Mike Scarchilli editor in chief of the Bond Buyer. This month, we’re doing something a bit different. We have a new podcast, the future of infrastructure. It’s a series of deep dives into us, infrastructure opportunities, investments, and impact for our first installment. I’m pleased to welcome investigative

Municipals were very lightly traded and little changed Monday, starting off the final two holiday-shortened weeks of 2021 with paltry supply and lightly staffed desks. The U.S. Treasury curve steepened with the long end weaker and equities sold off on continued COVID-19 concerns. The entire muni AAA curve has been stable for two weeks and

The Miami-Dade County Seaport Department won The Bond Buyer’s 20th annual Deal of the Year award for PortMiami’s $1.24 billion seaport revenue refunding bonds. PortMiami is the largest cruise port in the world and a large containerized cargo port. As a result of the COVID-19 pandemic, PortMiami cruise operations were suspended for nearly 16 months.