The financial landscape for state and local government issuers is poised for a transformative shift with S&P Global Ratings’ recent update to its rating methodology. This change, which impacted over 400 government issuers just this month, aims to instill greater consistency and clarity in how credit ratings are assessed across various tiers of government. This
Bonds
The bond market is experiencing a remarkable surge in issuance volume in 2024, with September marking another record-breaking month for state and local governments. According to LSEG data, issuance rose by an astonishing 44.5% compared to September of the previous year, driven by the decreasing availability of pandemic-related financial aid and heightened uncertainties leading up
The municipal bond market has been witnessing unprecedented movements, marked by a remarkable increase in new issuances. As investors grapple with the complexities of the current economic landscape, understanding the implications of this oversubscription trend is essential for both market participants and observers. Recent statistics reflect a staggering 35.2% increase in municipal bond issuance through
Chicago’s recent decision to defer a vote on a substantial $1.5 billion bond measure has sparked intense debate among city officials, budget analysts, and the general public. This financial maneuver, intended to manage the city’s debt through a planned tender offer, poses significant implications for the city’s credit quality and financial health. With opposition emerging
As the financial landscape evolves, the demand for bond insurance has witnessed a notable upsurge through the first three quarters of 2024. The bond insurance sector, which plays a crucial role in safeguarding municipal bonds, saw an impressive year-over-year growth of 26.8%, as reported by LSEG data. The total debt wrapped by bond insurance reached
The launch of the Equitable School Revolving Fund LLC (ESRF) next week introduces a groundbreaking model aimed at supporting charter schools through a significant financial mechanism. With an announcement of $300 million in A-rated social bonds, this pioneering loan pool continues to catch the attention of educational and financial stakeholders alike. Founded in 2017 by
Over the past few trading sessions, municipal bonds have faced marginal weakening, marking their fourth consecutive day in this trend. This follows the notable declines in U.S. Treasury yields, all while equity markets show signs of life with gains. On Wednesday, municipal bond yields rose up to three basis points, whereas U.S. Treasury (UST) yields
The University of Arizona finds itself at a crucial juncture as it prepares to enter the municipal bond market, launching its first bond issue following significant financial concerns. This bond initiative, valued at approximately $115.645 million under the Stimulus Plan for Economic and Educational Development (SPEED), is notably a move to refinance previous debt incurred
Cleveland is set to re-enter the municipal bond market with significant offerings aimed at funding critical infrastructure projects and maintaining fiscal stability. The city’s financial landscape, characterized by its unique challenges and opportunities, will be put under scrutiny as it moves forward with two notable bond issues this month—an approximately $64.4 million general obligation (GO)
The municipal bond market has recently shown signs of pressure against a backdrop of geopolitical concerns and mixed economic indicators, especially as we approach the latest U.S. payroll data release. This article aims to dissect the current state of municipal bonds, including weekly inflows, market dynamics, and prevailing interest rates, while also identifying key trends