In November, the credit markets saw a new issue calendar that topped monthly expectations as spreads were 5 to 25 basis points wider for the second straight month after two months of spreads tightening in August and September. The U.S. Treasury market was flatter by 12 basis points as the omicron variant fears lead to … Continued
December 6, 2021 Municipal New Issuance: The negotiated calendar totaled to just under $7 billion with only two deals being over $700 million. The largest deal of the week was the $704 million Black Belt Energy Gas Project revenue bonds. The second largest deal was the $700 million Illinois State Highway Authority revenue bonds. Even with the … Continued
November 15, 2021 Municipal New Issuance: The negotiated calendar for the second week of November totaled to just over $8 billion for the week with only one issuer issuing bonds over $1 billion. Dallas Area Rapid Transit issued $1 billion in bonds with $576.35 million in taxable bonds and $448.96 million in tax-exempt bonds. AmeriVet had a busy week … Continued
November 8, 2021 Municipal New Issuance: The negotiated calendar for the first week of November totaled to just over $5.6 billion with a third of the issuances coming from just three deals. The largest deal of the week which also gained the most attention was the $832 million State of Texas taxable general obligation and refunding bonds. … Continued
November 1, 2021 Municipal New Issuance: The negotiated calendar for the final week of October saw just over $6.6 billion issued with one issue being over $1 billion. Dallas & Fort Worth International issued $706 million in taxable bonds and $299 million in tax-exempt bonds in revenue bonds for a total of $1 billion. Los Angeles Unified … Continued
October 25, 2021 Municipal New Issuance: Last weeks negotiated calendar totaled to just over $10 billion with only one issue being over $500 million. The largest deal of the week which also saw the most demand was the $869 million Central Puget Sound Transit Authority revenue bonds. Hudson Yards infrastructure corporation issued $451 million in green revenue … Continued
October 18, 2021 Municipal New Issuance: With the holiday shortened week it comes to no surprise that the negotiated calendar was very light with the total of just over $5 billion for the week. With the light calendar last week, we only saw two issuer issue bonds totaling over $300 million. The Texas Water Development Board sold … Continued
October 12, 2021 Municipal New Issuance: Negotiated issuance for the week totaled to about $9.9 billion for the week just a touch higher than the previous total negotiated issuance last week. The largest deal of the week which was the only deal above $1 billion was the $1.5 billion Alabama Federal Aid Highway Finance Authority which issued taxable … Continued
October 4th, 2021 Municipal New Issuance: Negotiated issuance for the week totaled to about $9.8 billion for the week with about a third of the issuance coming from two deals. The largest of the two being the $1.8 billion Golden State Tobacco Taxable Revenue bonds which was well over subscribed during the order period and subsequently tightened … Continued