Philadelphia has reemerged into the financial market seeking to price an impressive $817 million in general obligation bonds for the first time since 2021. This move signifies not just a renewed interest from the City of Brotherly Love but also showcases the evolution in its fiscal strategy under new leadership and improved credit ratings. The
Bonds
The recent approval by Guam’s Consolidated Commission on Utilities to move forward with a $270 million bond sale for the Guam Waterworks Authority (GWA) is indicative of poor financial stewardship. While proponents of this plan tout its necessity for infrastructure improvements, the true implications of such a decision for local taxpayers are far more dire.
Salt Lake City is gearing up for a momentous occasion as it prepares to enter the municipal bond market, unveiling a staggering $900 million sales tax revenue bond issue. This financial venture aims to revamp the Delta Center, the city’s professional sports arena, and address vital infrastructure improvements downtown. Goldman’s command over this deal positions
Chicago, once known as the Windy City, now finds itself in the midst of a tempest brewing over its financial landscape. The upcoming issuance of $517.95 million in taxable and tax-exempt general obligation bonds marks a critical juncture for the city, reflecting not only a fiscal strategy but also the deeper malaise that Chicago finds
The municipal bond market has experienced noteworthy fluctuations recently, reflective of broader economic sentiments and geopolitical issues. A steady state was noted among municipal bonds recently, seemingly contradicting the increased yields of U.S. Treasuries and the overall downturn in the equity markets. This juxtaposition raises questions regarding the inherent stability of municipal bonds and highlights
For a substantial part of the last decade, the institutional municipal market has become inundated with 5% callable bonds that are sold as some of the safest investment options available. While their high coupon rates may initially seem appealing, the true nature of these investments warrants a closer examination. The landscape of this market is
Municipal markets showed signs of additional strain this week as U.S. Treasury yields dipped further while equities experienced a surge late in the session. A notable aspect of this trend is the apparent disconnect between rising stock markets and waning demand for municipal bonds. Notably, the two-year municipal-UST ratio remained stagnant at 72%, while similar
In an era where trust in economic systems is paramount, Moody’s recent downgrade of the U.S. credit rating from AAA to Aa1 serves as a harbinger of economic tension. While the immediate impact on the municipal bond market seems tepid, with only a slight weakening noted in early trading, the broader implications are far more
The municipal bond market, like any financial sector, is sensitive to the whims of political maneuvering and trade tensions. In recent weeks, what started as a panic response to President Trump’s tariff announcements has transformed into a fascinating study of resilience. Jamie Doffermyre, leading the public finance syndicate at Truist Securities, expressed optimism during his
In a significant financial maneuver, Harris County Hospital District in Texas is poised to issue limited tax bonds totaling $839.5 million this week. This endeavor aims to tap into the recently authorized $2.5 billion debt for an expansive $3.2 billion healthcare project overwhelmingly approved by voters. The bond issue, scheduled for this week, represents not