Secondary trading showed a weaker tone Tuesday but the focus shifted to the primary as a large slate of new issues along the credit spectrum were priced, while U.S. Treasuries improved and equities closed the session mixed. The primary was led by two large California issues, including the state’s competitive sale of tax-exempt and taxable

Enjoy complimentary access to top ideas and insights — selected by our editors. The 10 largest bond counsels of education issuance in the first half of 2024 accounted for $28.829 billion. McCall Parkhurst & Horton was first with $6.554 billion in 67 issues, followed by Orrick Herrington & Sutcliffe in second with $5.822 billion in

Municipals were little changed Monday as the market took a breather following volatility last week and ahead of what is expected to be the last sizable new-issue slate until well after the election. U.S. Treasuries were weaker and equities saw gains. The two-year ratio Monday was at 64%, the three-year at 63%, the five-year at

Enjoy complimentary access to top ideas and insights — selected by our editors. Education issuance in the first half of 2024 rose 27% year-over-year, increasing to $64.516 billion across 1,646 issues from $50.796 billion in 1,559 transactions from 1H 2023.Supply was led by K-12 education at $40.971 billion, up 7.9% year-over-year.Higher education issuance, though, surge

The Municipal Securities Rulemaking Board will be issuing a request for information on its rate card fee setting process, one of the many topics that were discussed during the MSRB’s first quarterly board meeting of FY 2025 held Oct. 23-24. The rate card request for information will be out in the next couple of weeks,

Tom Vales, a muni bond electronic trading expert, has joined Build America Mutual’s board as an independent director. The bond insurer has seven board members, including three independent directors. Vales will succeed John White, who is retiring, according to a press release. “Tom’s career has been about making fixed-income markets more transparent and efficient,” said Seán

Record bond volume, a focus on climate, more floating-rate debt and broader integration of municipals into fixed-income markets is on the horizon for the public finance industry. Those are among the factors that will lead to market growth in 2025 and beyond, panelists at this week’s Bond Buyer California Public Finance conference said. The increase