Memphis, Tennessee, recently found itself grappling with a financial storm as S&P Global Ratings officially downgraded the revenue bonds associated with its sanitary sewerage system. Once considered a beacon of fiscal stability with an AA-plus rating, the system now sits at A-plus, heralding a dramatically altered financial outlook. This shift serves as a sobering reminder
Bonds
Wisconsin is preparing to initiate a significant financial maneuver by issuing $253.9 million in Series 2025A general obligation (GO) bonds. A considerable part of these funds will support critical infrastructure, specifically the replacement of the aging John A. Blatnik Bridge. This 63-year-old structure plays a vital role in connecting Superior, Wisconsin, to Duluth, Minnesota, handling
In recent weeks, the municipal bond market has exhibited notable characteristics as it weathers varying influences from mutual fund inflows and shifting U.S. Treasury (UST) yields. On a particular Thursday, the performance of municipal bonds remained relatively stable despite broader fluctuations in equity markets and rising Treasury yields. Understanding the underlying demand for municipal debt,
In the wake of shifting economic conditions, Tennessee Governor Bill Lee’s proposed fiscal budget for 2026 presents a bold move towards increasing state funding through a significant issuance of general obligation bonds. This strategy aims to meet rising capital needs while managing existing economic pressures. The budgetary decisions made now will play a pivotal role
The municipal bond market has recently exhibited signs of stability amidst shifting economic indicators. On a notable Wednesday, the landscape stood slightly firmer, as municipal bonds gained traction and U.S. Treasury yields continued their descent. This trend reflects a complex interplay between municipal issuance, investor sentiment, and broader economic factors. The movement in the municipal
The municipal bond market in the Northeast has witnessed an unprecedented surge in issuance during 2024, marking a pivotal moment in regional finance. With a total volume of $132.3 billion—an increase of $43 billion compared to 2023—this year’s performance underscores a significant recovery and growth in investment, with implications that ripple across various sectors. This
The advent of high-speed rail systems has been met with both excitement and skepticism across the United States. Brightline West, a project aimed at connecting Las Vegas and Los Angeles via an electric bullet train, has recently taken a significant step forward. On a noteworthy Thursday, the project entered the market with a monumental issuance
In a significant fiscal move, the Louisiana State Bond Commission has authorized the issuance of a $400 million general obligation bond, slated for a competitive sale on April 9. This bond issuance stands as a pivotal strategy for addressing the state’s immediate financial obligations while simultaneously bolstering investments in local initiatives and governmental projects. The
The municipal bond market recently displayed a certain resilience, with developments highlighting key trends and shifts within an evolving financial landscape. As mid-February progresses, a noteworthy $2.5 billion project surrounding the Brightline West Passenger Rail underscores this dynamism, amidst fluctuations in treasury yields and the broader equity markets. Let’s delve deeper into the underlying factors
The municipal bond market exhibited relative stability recently, showing little change despite fluctuating trends in U.S. Treasuries and mixed performances in equities. A detailed examination of the municipal-to-Treasury ratios reveals a consistent picture across various maturities. For instance, the two-year and five-year ratios stood at 63%, while the ten-year reached 66%, and the thirty-year showed