MarketAxess has expanded the integration of its municipal bond products with software firm Investortools’ platform to display them through the Investortools Dealer Network. This collaboration is the next stage of FIX connection integration and will bring together Investortools’ portfolio of analytics and trading tools with MarketAxess’ trading capabilities and CUSIP services for a wide-ranging picture
Bonds
Munis continued to show strength Wednesday as several large new issues priced to good demand, with New York City Transitional Finance Authority seeing yields fall as much as of 14 basis points from Tuesday’s retail scales and Salt Lake City upsizing its deal. U.S. Treasuries improved and equities ended in the black. Triple-A yields were
Data standardization across the municipal market will likely take years and much discussion to pinpoint the issues and how the market can solve them. Some of the apparent problems were discussed at the Brookings Municipal Finance Conference where Marc Joffe, federalism and state policy analyst at the Cato Institute, presented his paper outlining them. “If
Municipals continued to improve Tuesday in constructive secondary trading while a retail pricing of $950 million for the New York City Transitional Finance Authority took focus in the primary. U.S. Treasuries were slightly firmer out long and equities rallied. Triple-A yields fell up to four basis points, depending on the curve, while U.S. Treasuries were
Milwaukee Mayor Cavalier Johnson Friday signed into law a 2% municipal sales tax rate, marking the end of a long-fought battle to shore up the city’s ailing finances, which have been hit by rising pension costs. “We’ve accomplished something huge, something major, something extraordinary for our city,” Johnson, surrounded by local and state officials in
Municipals were slightly firmer to start off the week as a larger new-issue calendar looms, while U.S. Treasury yields fell and equities ended the session up. Triple-A yields fell one to two basis points while UST fell two to three. Munis started off last week at “extremely rich valuations throughout most of the curve after
A group of Wall Street banks are set to avoid a long-awaited trial in Illinois over charges of inflating interest rates on the state’s variable-rate debt after a Cook County judge Monday granted the banks’ motion to vacate the trial in light of a proposed settlement with the state. The deal may not be done
The Indiana Finance Authority will head into the market as soon as Tuesday with Indianapolis-based water and wastewater utility refundings using a tender and forward delivery structure popular in the current market to achieve savings. The Indiana Finance Authority serves as conduit the CWA Authority Inc. in an offering of an $80.7 million first-lien wastewater
Municipals were slightly firmer in spots Friday while U.S. Treasuries saw losses, snapping a two-day rally, following stronger-than-estimated consumer sentiment data. Equities were mixed. Municipals largely ignored the moves in Treasuries after underperforming the rally throughout the week. Some of the outperformance municipals have shown over the past few weeks is due to a dearth
UBS Financial Services has been granted preliminary approval to settle a class action lawsuit against it with bondholders for $2.5 million. The settlement stems from charges that UBS allegedly reported tax information incorrectly and cost investors millions, according to the suit. The bank is accused of not reporting amortizable bond premiums on tax forms that
The Texas Legislature took final action Thursday on a massive property tax cut after beating back attempts in the House to include teacher pay increases and other measures in the bill. Senate Bill 2, which passed the Senate in a 31-0 vote, cleared the House in a 133-4 vote. Texas Gov. Greg Abbott, who advocated
New York City’s capital program will be getting a much-needed bond boost as the New York City Transitional Finance Authority readies a sale of $1.08 billion of future tax-secured subordinate debt. Proceeds from the sale will be used to fund infrastructure projects in the city’s $164.8 billion 10-year capital plan. The fiscal 2024 executive capital
Property owners fighting Oklahoma Turnpike Authority extension plans blasted the agency in filings this week with the state supreme court, which is nearing a decision on the validity of initial bonds for the $5 billion project. The briefs took issue with OTA’s response last month to questions from the high court concerning the U.S. Bureau
Benjamin S. Wolfe of Short Hills, New Jersey, a former public finance banker passed away on Saturday, July 8, 2023. He was 85. He was born on Aug. 18, 1937, in Newark, New Jersey, to Bertha and Milton Wolfe. He grew up in Newark and graduated from Weequahic High School before earning a bachelor’s degree
Federal Reserve Bank of St. Louis President James Bullard, who called for aggressive interest-rate hikes to fight the recent inflation surge, resigned after 15 years in the position to become dean of a university business school. Bullard, 62, stepped down from his post as head of the bank effective Thursday and will fully depart Aug.
Nashville, Tennessee received a series of upgrades from S&P Global this week. The credit agency on Monday boosted Metropolitan Nashville and Davidson County’s long-term general obligation debt rating to AA+ from AA. The upgrades also apply to obligations supported by its non-tax revenue. The outlook is stable. The action reflected Nashville’s efforts to “strengthen its
North Carolina Treasurer Dale Folwell praised the General Assembly’s override of Gov. Roy Cooper’s veto of legislation on environmental social and governance issues. Late last month, the General Assembly overrode the governor’s veto of House Bill 750, which removed political and social considerations from state pension plan investment decisions. “I think the citizens of this
Assured Guaranty Municipal Corp. hired Marc Livolsi, formerly of Citigroup, as managing director of public finance marketing. Livolsi, who worked at Citigroup Global Markets Inc. for 25 years until the bank cut his position in February along with two others in its municipal team, will focus on building relationships with public finance professionals as well
Transcription:Jessica Lerner (00:03):Hello everyone and welcome to another Bond Buyer podcast. I’m Jessica Lerner, markets reporter at the Bond Buyer. I’m happy to welcome Nick Venditti, municipal bond portfolio manager with Allspring Global Investments. Welcome, Nick. Nick Venditti (00:18):Thank you so much for having me. Jessica Lerner (00:19):Yeah, it’s great to talk again. The first
Municipals were mixed Monday ahead of a larger new-issue slate while U.S. Treasuries improved and equities were up near the close. Triple-A yields saw a mix of one to two basis point bumps and cuts, depending on the curve, while UST saw yields fall by one to 11 basis points with the strongest moves inside
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