In recent years, the municipal bond market has hovered stubbornly around the $4 trillion mark, seemingly a ceiling that experts have considered a limit rather than a launchpad. However, recent data suggests that this may be a false barrier. With the market swelling to over $4.2 trillion in the first quarter of 2025—an 0.8% increase
Bonds
While North Carolina’s Local Government Commission (LGC) recently approved an ambitious suite of bond issuances totaling over half a billion dollars, a critical eye reveals a pattern of questionable priorities. The decision to allocate $505 million toward infrastructure and healthcare projects might sound impressive on paper, yet warrants skepticism when viewed through a lens of
The first half of 2025 has defied expectations, witnessing an explosive increase in municipal bond issuance that could be mistaken for genuine economic vitality. With issuance surpassing $280 billion—an impressive 14.3% year-over-year increase—markets appear robust. Yet, beneath this frenetic activity lies a complex web of strategic frontloading, political anxieties, and a distorted perception of fiscal
The municipal bond market, often hailed as a reliable harbor for conservative investors, is currently navigating a surprisingly turbulent undercurrent. While surface-level observations suggest a relatively steady environment with limited volatility, a closer examination reveals that the muni market is quietly grappling with structural and technical challenges that could dampen its traditionally stable allure. Behind
The municipal bond market in 2025 is nothing short of a pressure cooker, burdened by an unprecedented surge in issuance that threatens to unsettle an already fragile fixed income landscape. Projections for total municipal issuance have been repeatedly revised upward this year, reaching a staggering forecast of $580 billion from an earlier $520 billion estimate.
The landscape of municipal bonds has become increasingly complex, especially amid the whirlwind of economic conditions and the political environment in America. With yields fluctuating, investors find themselves in a precarious position, caught between the historical charm of munis and the harsh realities of fiscal policy. The facts suggest that while there are glimmers of
Utah’s decision to issue $247.74 million in unrated tax-exempt revenue bonds for the nearly 600-acre development site known as The Point ignites discussions about the balance between public investment and private profit. The project, lauded by state officials, stands as a bold example of public-private partnerships (PPPs) intended to spur economic growth in one of
The recent bond sale by Harvard University has sent shockwaves through the financial and educational realms alike. Republican Representative Elise Stefanik’s request for an investigation by the Securities and Exchange Commission (SEC) raises pertinent questions about transparency and the ethical obligations of prestigious institutions towards their investors. The concern is not merely about a financial
In a move that has stirred both excitement and unease among Oklahoma City residents, the council has approved a monumental deal to keep the Thunder basketball team in a yet-to-be-built arena through 2053. Mayor David Holt’s statement confirming a 115-page license agreement seems more like a spin to assure the public of stability than a
In recent times, the high-yield municipal bond sector has shown remarkable resilience, even amidst the dramatic fluctuations that have characterized the bond market in 2022 and 2023. Despite facing significant outflows, there is emerging optimism about the demand for high-yield paper. A notable highlight is the financing for Brightline West’s high-speed rail project, which raised