Munis start December on a positive note
Municipals were firmer to kick off December, as U.S. Treasuries were weaker and equities were mixed late within the session. Muni yields were bumped one to 4 basis points, depending…
Bonds
Aon expands Client Treaty to support 28.5% of London GBC brokered business
Aon has announced a renewal and an expansion of its long-standing Client Treaty facility for the London and Lloyd’s market, which is able to now offer 28.5% of co-insurance capability…
Transit lobby pushing Congress for $57.5 million in stalled funding
“Emergency relief funding just isn’t nearly repairing infrastructure, it’s about ensuring that transportation stays a critical support system for communities rebuilding after devastating natural disasters,” said Paul P. Skoutelas, APTA…
Moody’s downgrades Manhattan, Kansas, to A1
Moody’s Rankings downgraded Manhattan, Kansas, bonds to A1 from Aa3 within the wake of a tardy audit and deteriorating funds. A tardy annual audit and deteriorating funds led Moody’s Rankings…
ILS fund Index returns 0.81% for October 2024 despite hurricane Milton: ILS Advisers
Reflecting the flexibility of nearly all of the market to soak up initial mark-to-market losses from hurricane Milton inside just numerous weeks, the broad benchmark index for insurance-linked securities (ILS)…
Chicago’s refinancing steers clear of scoop-and-toss
The Chicago skyline in August. Chicago is preparing to go to market with a refinancing deal that can help balance its budget. Bloomberg News A posh refinancing deal pricing next…
Washington, D.C., Council approves arena deal
“By modernizing this key venue, we won’t only attract more events and visitors but in addition stimulate local businesses and create a vibrant atmosphere in the realm,” said D.C.’s Democratic…
CEA risk transfer shrinks 6% more to $7.99bn on non-renewals. To re-evaluate at 1/1
The California Earthquake Authority (CEA) didn’t come back to the reinsurance market at its typical October 1st renewal, allowing roughly $511 million of canopy to run out and it now…
November issuance falls, but 2024 will break records
Issuance fell in November year-over-year, marking the primary month supply has declined in 2024, as election-related uncertainty and fewer available pricing days kept volume low. Despite this, bond volume in…
Defaulted Alabama hospital to get bridge loans from bondholders
Jackson Hospital engaged Allen Wilen, partner at Eisner Advisory Group, because the chief restructuring officer in early September. The defaulted issuer Jackson Hospital & Clinic of Birmingham, Alabama, is ready…