Miami-Dade County, Florida, Mayor Daniella Levine Cava has decided to scrap plans for a proposed $2.5 billion municipal bond referendum in November. The original proposal aimed at funding infrastructure projects but did not include money for transit initiatives. Instead, the mayor now plans to introduce an even larger bonding plan that will incorporate funding for
Bonds
The recent passage of HB 727 by the Kentucky Legislature marks a significant step towards alleviating the challenges faced by local schools in the state. With rising inflation and soaring building costs, the bill aims to enable school districts to directly issue general obligation bonds. Representative Michael Meredith, the sponsor of the bill, emphasized the
The recent approval of more than $1 billion in financing requests from state agencies and local governments by the North Carolina Local Government Commission raises concerns about the financial implications and sustainability of these projects. While the commission’s mandate is to review the feasibility of proposed projects and the borrowing capacity of municipalities, the scale
The month of March saw a significant increase in municipal bond issuance for the third month in a row. This uptick was largely attributed to a surge in refundings and the completion of several billion-dollar deals. As economic conditions improved and demand for municipal bonds increased, issuers found themselves more confident in entering the market.
As tax season progresses, the municipal bond market is facing challenges and experiencing selling pressure as investors shift their focus from short-term securities to meet their tax obligations. This trend has caused muni bonds to underperform compared to U.S. Treasuries and corporate bonds, with negative returns month-to-date. Despite this, experts believe that the muni market
The municipal bond market experienced a mixed performance on Wednesday, with evident selling pressure on the short end due to few sizable deals pricing in the primary market. Despite this, munis have managed to hold relatively well as yields remain in a tight range. The AAA HG curve in the muni market has maintained stability
Samantha Costanzo, the newly appointed head of public finance at Huntington National Bank, sheds light on the challenges women face in the male-dominated financial services industry. Costanzo acknowledges the disparity in gender representation in finance, describing it as a “chicken and egg problem.” Despite the obstacles, she remains hopeful and believes in the power of