Browsing articles in "Muni Market"
Municipal Debt Market New Issue Outlook-Mischler Muni Market Update
January 2018      Muni Market   

Muni Bond New Issuance Scheduled Week of Jan 16 2018  via Mischler Muni Market Update looks back to last week’s metrics and provides a curated view towards municipal debt offerings scheduled for this holiday-shortened week.  As always, the Mischler Muni Market Outlook provides public finance investment managers, institutional investors focused on municipal debt and muni bond market participants a summary of the prior week’s municipal bond market activity, including credit spreads and money flows, and a view of pending municipal finance offerings tentatively scheduled for this week’s issuance.

Last week muni volume was about $3.1 billion. This holiday shortened week volume is expected to be about $3.4 billion. The negotiated market is led by $898.1 million for the Sales Tax Securitization Corporation, Illinois. The competitive market is led by $220.7 million tax exempt and taxable bonds for the University of Kentucky on Wednesday.

Below and attached is neither a recommendation or offer to purchase or sell securities. Mischler Financial Group is not a Municipal Advisor. For additional information, please contact Managing Director Richard Tilghman at 203.276.6656

For reading ease, please click on image belowmunicipal-debt-new-issue-calendar-mischler

Since 2014 alone, minority broker-dealer Mischler Financial Group Inc.’s  presence across the primary Primary Debt Capital Markets (DCM) space has included underwriting roles in which Mischler has led, co-managed and/or served as selling group member for more than $600 Billion (notional value) in new debt and preferred shares issued by Fortune corporations, as well as debt issued by various municipalities and US Government agencies.

Mischler Financial Group is the securities industry’s oldest minority broker-dealer owned and operated by Service-Disabled Veterans. Mischler is also a federally-certified Service-Disabled Veteran Owned Business Enterprise (SDVOBE).  Mischler Muni Market updates are provided as a courtesy to institutional clients of Mischler Financial Group, Inc. (more…)

Holiday Time Is Over-Municipal Debt Offerings Pick Up
January 2018      Muni Market   

Muni Bond New Issuance Scheduled Week of Jan 08 2018  via Mischler Muni Market Update looks back to last week’s miniscule metrics ($0.8bil new issuance) and provides view towards municipal debt offerings scheduled for this first full week of 2018.  As always, the Mischler Muni Market Outlook offers public finance investment managers, institutional investors focused on municipal debt and muni bond market participants a summary of the prior week’s municipal debt activity, including credit spreads and money flows, and a curated view of pending municipal finance offerings tentatively scheduled for this week’s issuance.

Last week muni volume was about $0.8 billion. This week volume is expected to be about $3.8 billion. The negotiated market is led by a trio of taxable deals, $500 million for Stanford Health Care, $410 million for Commonwealth Financing Authority (PA) and $219 million for Illinois Finance Authority. The competitive market is led by $600 million general obligation bonds for the Commonwealth of Massachusetts on Tuesday.

Below and attached is neither a recommendation or offer to purchase or sell securities. Mischler Financial Group is not a Municipal Advisor. For additional information, please contact Managing Director Richard Tilghman at 203.276.6656

For reading ease, please click on image below

municipal-debt-market-mischler-comment

Since 2014 alone, minority broker-dealer Mischler Financial Group Inc.’s  presence across the primary Primary Debt Capital Markets (DCM) space has included underwriting roles in which Mischler has led, co-managed and/or served as selling group member for more than $600 Billion (notional value) in new debt and preferred shares issued by Fortune corporations, as well as debt issued by various municipalities and US Government agencies.

Mischler Financial Group is the securities industry’s oldest minority broker-dealer owned and operated by Service-Disabled Veterans. Mischler is also a federally-certified Service-Disabled Veteran Owned Business Enterprise (SDVOBE).  Mischler Muni Market updates are provided as a courtesy to institutional clients of Mischler Financial Group, Inc.  (more…)

Muni Bond New Issuance First Week 2018: Demand Up, Supply Down
January 2018      Muni Market   

Muni Bond New Issuance Scheduled Week of Jan 02 2018  via Mischler Muni Market Update looks back to last week’s metrics and provides view towards municipal bond offerings scheduled for this holiday-shortened week.  Between two back-to-back holiday shortened weeks, the take-away for some is “demand for muni credits is up, but the number of offerings is down..” Good news: NJ Economic Development Authority is open for issuance (see below) As always, the Mischler Muni Market Outlook offers public finance investment managers, institutional investors focused on municipal debt and muni bond market participants a summary of the prior week’s municipal debt activity, including credit spreads and money flows, and a curated view of pending municipal finance offerings tentatively scheduled for this week’s issuance.

Last week muni volume ended up at $1.2 billion. This week volume is expected to be about $757.4 million. The negotiated
market is led by $381.2 million of New Jersey Economic Development Authority State Lease Revenue Bonds. The competitive market does not have any deals over $50 million.

Below and attached is neither a recommendation or offer to purchase or sell securities. Mischler Financial Group is not a Municipal Advisor. For additional information, please contact Managing Director Richard Tilghman at 203.276.6656

For reading ease, please click on image below

 

 

mischler-municipal-bond-new-issuance-schedule

Since 2014 alone, minority broker-dealer Mischler Financial Group Inc.’s  presence across the primary Primary Debt Capital Markets (DCM) space has included underwriting roles in which Mischler has led, co-managed and/or served as selling group member for more than $600 Billion (notional value) in new debt and preferred shares issued by Fortune corporations, as well as debt issued by various municipalities and US Government agencies.

Mischler Financial Group is the securities industry’s oldest minority broker-dealer owned and operated by Service-Disabled Veterans. Mischler is also a federally-certified Service-Disabled Veteran Owned Business Enterprise (SDVOBE).  Mischler Muni Market updates are provided as a courtesy to institutional clients of Mischler Financial Group, Inc.

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Muni Bond Offerings Week Before Christmas
December 2017      Muni Market   

Muni Bond Offerings Scheduled Week of Dec 18 2017 via Mischler Muni Market Update.  ‘Twas the week before Christmas and all through the house, muni bond buyers were bristling for bond deals, not just a mouse..The Dec 18 edition of Mischler Muni Market Update looks back to last week’s metrics and provides a lens on municipal bond offerings anticipated for this week.  As always, the Mischler Muni Market Outlook offers public finance investment managers, institutional investors focused on municipal debt and muni bond market participants a summary of the prior week’s municipal debt activity, including credit spreads and money flows, and a curated view of pending municipal finance offerings tentatively scheduled for this week’s issuance.

Last week muni volume was about $16.4 billion from a projected $22.9 billion. This week volume is expected to be $11.7 billion. The negotiated market is led by $1.0 billion of taxable pension bonds for the City of Houston, Texas. The competitive market has no deal over $100 million.

Below and attached is neither a recommendation or offer to purchase or sell securities. Mischler Financial Group is not a Municipal Advisor. For additional information, please contact Managing Director Richard Tilghman at 203.276.6656

For reading ease, please click on image below

muni-bond-offerings

Since 2014 alone, minority broker-dealer Mischler Financial Group Inc.’s  presence across the primary Primary Debt Capital Markets (DCM) space has included underwriting roles in which Mischler has led, co-managed and/or served as selling group member for more than $600 Billion (notional value) in new debt and preferred shares issued by Fortune corporations, as well as debt issued by various municipalities and US Government agencies.

Mischler Financial Group is the securities industry’s oldest minority broker-dealer owned and operated by Service-Disabled Veterans. Mischler is also a federally-certified Service-Disabled Veteran Owned Business Enterprise (SDVOBE).  Mischler Muni Market updates are provided as a courtesy to institutional clients of Mischler Financial Group, Inc.

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Tax Reform, Pre-Funding Spurs Muni Debt Offerings; 23b This Week
December 2017      Muni Market   

Municipal Debt Offerings Scheduled Week of Dec 11 2017 via Mischler Muni Market Update.  Tax Reform and Pre-Funding is driving Muni Bond Issuers to ramp up going into year end. The Dec 11 edition of Mischler Muni Market Update looks back to last week’s metrics and provides a lens on municipal bond offerings anticipated for this week.  As always, the Mischler Muni Market Outlook offers public finance investment managers, institutional investors focused on municipal debt and municipal bond market participants a summary of the prior week’s municipal debt activity, including credit spreads and money flows, and a curated view of pending municipal finance offerings tentatively scheduled for this week’s issuance.

Last week muni volume was about $13.9 billion from a projected $17.4 billion. This week volume is expected to be $22.9 billion. The negotiated market is led by $1.2 billion of taxable bonds for Partners Healthcare System, Inc. and $795 million for New Jersey Turnpike Authority.

The competitive market is led by $1.8 billion tax-exempt and taxable PIT bonds for New York State Urban Development Corp.(ESD) on Thursday.

Below and attached is neither a recommendation or offer to purchase or sell securities. Mischler Financial Group is not a Municipal Advisor. For additional information, please contact Managing Director Richard Tilghman at 203.276.6656

For reading ease, please click on image below

muni-market-new-issue-calendar-week-121117

Snce 2014 alone, minority broker-dealer Mischler Financial Group Inc.’s  presence across the primary Primary Debt Capital Markets (DCM) space has included underwriting roles in which Mischler has led, co-managed and/or served as selling group member for more than $600 Billion (notional value) in new debt and preferred shares issued by Fortune corporations, as well as debt issued by various municipalities and US Government agencies.

Mischler Financial Group is the securities industry’s oldest minority broker-dealer owned and operated by Service-Disabled Veterans. Mischler is also a federally-certified Service-Disabled Veteran Owned Business Enterprise (SDVOBE).  Mischler Muni Market updates are provided as a courtesy to institutional clients of Mischler Financial Group, Inc.

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Muni Market Focus: Tax Reform, Advance Refundings, Private Activity Bonds
November 2017      Muni Market   

Municipal Debt Offerings Scheduled Week of Nov 20 2017 via Mischler Muni Market Update.  The Nov 203 edition looks back to last week’s metrics and provides a lens on municipal bond offerings anticipated for this week.  As always, the Mischler Muni Market Outlook offers public finance investment managers, institutional investors focused on municipal debt and municipal bond market participants a summary of the prior week’s municipal debt activity, including credit spreads and money flows, and a curated view of pending municipal finance offerings tentatively scheduled for this week’s issuance.

Last week muni volume was about $8.5 billion. This holiday shortened week volume is expected to be $4.2 billion.The negotiated market is led by $2.0 billion for Metropolitan Transportation Authority, NY. The competitive market does not have any deals over $100 million.

Last week munis were focused on tax reform and the potential elimination of private activity bonds (PABs)and advance refundings. The impact of both being in the final bill would significantly reduce muni volume going forward. If only advance refundings are included (since the Senate bill did not include private activity bonds) the reduction could be something like 30%-40%. In addition, the market could see a significant increase in volume in what is left of 2017 as issuers try to accelerate advance refundings, like MTA which increased its financing from $600 million to $2 billion this week. Towards the end of last week, concern about the ability of the Senate to pass tax reform, the Fed indicating it might finance deficits with short debt versus its previously mentioned ultra-long (50-100 year) bonds and still looking for one more hike in 2017 and three in 2018 all put pressure on the short end of the market and further flattening of yield curves as muni’s hit 140 basis points for the 2-30 year spread last Friday.

Below and attached is neither a recommendation or offer to purchase or sell securities. Mischler Financial Group is not a Municipal Advisor. For additional information, please contact Managing Director Richard Tilghman at 203.276.6656

For reading ease, please click on image below

muni-market-update-mischler-nov20

Snce 2014 alone, minority broker-dealer Mischler Financial Group Inc.’s  presence across the primary Primary Debt Capital Markets (DCM) space has included underwriting roles in which Mischler has led, co-managed and/or served as selling group member for more than $600 Billion (notional value) in new debt and preferred shares issued by Fortune corporations, as well as debt issued by various municipalities and US Government agencies.

 

Mischler Financial Group is the securities industry’s oldest minority broker-dealer owned and operated by Service-Disabled Veterans. Mischler is also a federally-certified Service-Disabled Veteran Owned Business Enterprise (SDVOBE).  Mischler Muni Market updates are provided as a courtesy to institutional clients of Mischler Financial Group, Inc.

This document may be not reproduced in any manner without the permission of Mischler Financial Group. Although the statements of fact have been obtained from and are based upon sources Mischler Financial Group believes reliable, we do not guarantee their accuracy, and any such information may be incomplete.  All opinions and estimates included in this report are subject to change without notice.  This report is for informational purposes and is not intended as an offer or solicitation with respect to the purchase or sale of any security.   Veteran-owned broker-dealer Mischler Financial Group, its affiliates and their respective officers, directors, partners and employees, including persons involved in the preparation of this report, may from time to time maintain a long or short position in, or purchase or sell a position in, hold or act as market-makers or advisors or brokers in relation to the securities (or related securities, financial products, options, warrants, rights, or derivatives), of companies mentioned in this report or be represented on the board of such companies. Neither Mischler Financial Group nor any officer or employee of Mischler Financial Group or any affiliate thereof accepts any liability whatsoever for any direct, indirect or consequential damages or losses arising from any use of this report or its contents.

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Chicago Leads Muni Market Negotiated Deals Offered This Week
November 2017      Muni Market   
Municipal Debt Offerings Scheduled Week of Nov 13 2017 via Mischler Muni Market Update.  The Nov 13 edition looks back to last week’s metrics and provides a lens on municipal bond offerings anticipated for this week. As always, the Mischler Muni Market Outlook offers public finance investment managers, institutional investors focused on municipal debt and municipal bond market participants a summary of the prior week’s municipal debt activity, including credit spreads and money flows, and a curated view of pending municipal finance offerings tentatively scheduled for this week’s issuance.

Last week muni volume was about $8.4 billion. This week volume is expected to be $9.9 billion. The negotiated market is led by a pair of Illinois deals, $922.3 million for the Board of Education of the City of Chicago, and $475.0 million for Metropolitan Pier & Exposition Authority. The competitive market is led by $505.8 million general obligation bonds for the State of Washington on Tuesday.

 

Below and attached is neither a recommendation or offer to purchase or sell securities. Mischler Financial Group is not a Municipal Advisor. For additional information, please contact Managing Director Richard Tilghman at 203.276.6656

For reading ease, please click on image below

municipal debt new issue calendar

Since 2014 alone, minority broker-dealer Mischler Financial Group Inc.’s  presence across the primary Primary Debt Capital Markets (DCM) space has included underwriting roles in which Mischler has led, co-managed and/or served as selling group member for more than $600 Billion (notional value) in new debt and preferred shares issued by Fortune corporations, as well as debt issued by various municipalities and US Government agencies.

Mischler Financial Group is the securities industry’s oldest minority broker-dealer owned and operated by Service-Disabled Veterans. Mischler is also a federally-certified Service-Disabled Veteran Owned Business Enterprise (SDVOBE).  Mischler Muni Market updates are provided as a courtesy to institutional clients of Mischler Financial Group, Inc.

This document may be not reproduced in any manner without the permission of Mischler Financial Group. Although the statements of fact have been obtained from and are based upon sources Mischler Financial Group believes reliable, we do not guarantee their accuracy, and any such information may be incomplete.  All opinions and estimates included in this report are subject to change without notice.  This report is for informational purposes and is not intended as an offer or solicitation with respect to the purchase or sale of any security.   Veteran-owned broker-dealer Mischler Financial Group, its affiliates and their respective officers, directors, partners and employees, including persons involved in the preparation of this report, may from time to time maintain a long or short position in, or purchase or sell a position in, hold or act as market-makers or advisors or brokers in relation to the securities (or related securities, financial products, options, warrants, rights, or derivatives), of companies mentioned in this report or be represented on the board of such companies. Neither Mischler Financial Group nor any officer or employee of Mischler Financial Group or any affiliate thereof accepts any liability whatsoever for any direct, indirect or consequential damages or losses arising from any use of this report or its contents.

 

Municipal Debt Offerings Scheduled Week of Oct 30
October 2017      Muni Market   
Municipal Debt Offerings Scheduled Week of Oct 30 2017 via Mischler Muni Market Update.  The Oct 30 edition looks back to last week’s metrics and provides a lens on municipal bond offerings anticipated for this week. As always, the Mischler Muni Market Outlook offers public finance investment managers, institutional investors focused on municipal debt and municipal bond market participants a summary of the prior week’s municipal debt activity, including credit spreads and money flows, and a curated view of pending municipal finance offerings tentatively scheduled for this week’s issuance.

Last week muni volume was about $10.2 billion. This week volume is expected to be $6.7 billion. The negotiated market is led by $737.0 million P3 private activity bonds for Virginia Small Business Financing Authority. The competitive market is led by $684.3 million general obligation bonds for Montgomery County, Maryland in 4 bids on Tuesday.

Below and attached is neither a recommendation or offer to purchase or sell securities. Mischler Financial Group is not a Municipal Advisor. For additional information, please contact Managing Director Richard Tilghman at 203.276.6656

For reading ease, please click on image below

mischler-muni-market-outlook-103017

Since 2014 alone, minority broker-dealer Mischler Financial Group Inc.’s  presence across the primary Primary Debt Capital Markets (DCM) space has included underwriting roles in which Mischler has led, co-managed and/or served as selling group member for more than $600 Billion (notional value) in new debt and preferred shares issued by Fortune corporations, as well as debt issued by various municipalities and US Government agencies.

Mischler Financial Group is the securities industry’s oldest minority broker-dealer owned and operated by Service-Disabled Veterans. Mischler is also a federally-certified Service-Disabled Veteran Owned Business Enterprise (SDVOBE).  Mischler Muni Market updates are provided as a courtesy to institutional clients of Mischler Financial Group, Inc.

This document may be not reproduced in any manner without the permission of Mischler Financial Group. Although the statements of fact have been obtained from and are based upon sources Mischler Financial Group believes reliable, we do not guarantee their accuracy, and any such information may be incomplete.  All opinions and estimates included in this report are subject to change without notice.  This report is for informational purposes and is not intended as an offer or solicitation with respect to the purchase or sale of any security.   Veteran-owned broker-dealer Mischler Financial Group, its affiliates and their respective officers, directors, partners and employees, including persons involved in the preparation of this report, may from time to time maintain a long or short position in, or purchase or sell a position in, hold or act as market-makers or advisors or brokers in relation to the securities (or related securities, financial products, options, warrants, rights, or derivatives), of companies mentioned in this report or be represented on the board of such companies. Neither Mischler Financial Group nor any officer or employee of Mischler Financial Group or any affiliate thereof accepts any liability whatsoever for any direct, indirect or consequential damages or losses arising from any use of this report or its contents.

 

 

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Municipal Debt Offerings Scheduled Week of Oct 23
October 2017      Muni Market   
Municipal Debt Offerings Scheduled Week of Oct 23-Mischler Muni Market Update Oct 23 edition looks back to last week’s metrics and provides a lens on pending municipal bond offerings scheduled for this week. As always, the Mischler Muni Market Outlook offers public finance investment managers, institutional investors focused on municipal debt and municipal bond market participants a summary of the prior week’s municipal debt activity, including credit spreads and money flows, and a curated view of pending municipal finance offerings tentatively scheduled for this week’s issuance.

Last week muni volume was about $10.2 billion. This week volume is expected to be $10.1 billion. The negotiated market is led by $4.5 billion general obligation bonds for the State of Illinois. The competitive market is led by $712.5 million general obligation bonds for Washington Suburban Sanitary District, Maryland in 2 bids on Thursday.

Below and attached is neither a recommendation or offer to purchase or sell securities. Mischler Financial Group is not a Municipal Advisor. For additional information, please contact Managing Director Richard Tilghman at 203.276.6656

For reading ease, please click on image below

municipal debt offerings scheduled

Since 2014 alone, minority broker-dealer Mischler Financial Group Inc.’s  presence across the primary Primary Debt Capital Markets (DCM) space has included underwriting roles in which Mischler has led, co-managed and/or served as selling group member for more than $600 Billion (notional value) in new debt and preferred shares issued by Fortune corporations, as well as debt issued by various municipalities and US Government agencies.

Mischler Financial Group is the securities industry’s oldest minority broker-dealer owned and operated by Service-Disabled Veterans. Mischler is also a federally-certified Service-Disabled Veteran Owned Business Enterprise (SDVOBE).  Mischler Muni Market updates are provided as a courtesy to institutional clients of Mischler Financial Group, Inc.

This document may be not reproduced in any manner without the permission of Mischler Financial Group. Although the statements of fact have been obtained from and are based upon sources Mischler Financial Group believes reliable, we do not guarantee their accuracy, and any such information may be incomplete.  All opinions and estimates included in this report are subject to change without notice.  This report is for informational purposes and is not intended as an offer or solicitation with respect to the purchase or sale of any security.   Veteran-owned broker-dealer Mischler Financial Group, its affiliates and their respective officers, directors, partners and employees, including persons involved in the preparation of this report, may from time to time maintain a long or short position in, or purchase or sell a position in, hold or act as market-makers or advisors or brokers in relation to the securities (or related securities, financial products, options, warrants, rights, or derivatives), of companies mentioned in this report or be represented on the board of such companies. Neither Mischler Financial Group nor any officer or employee of Mischler Financial Group or any affiliate thereof accepts any liability whatsoever for any direct, indirect or consequential damages or losses arising from any use of this report or its contents.

 

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Muni Market In Gear to Issue $10bil Week of Oct 16
October 2017      Muni Market   

Municipal Bond Offerings Scheduled Week of Oct 16 -Mischler Muni Market Update Oct 16 edition looks back to last week’s metrics and provides a lens on pending municipal bond offerings scheduled for this week. As always, the Mischler Muni Market Outlook offers public finance investment managers, institutional investors focused on municipal debt and municipal bond market participants a summary of the prior week’s municipal debt activity, including credit spreads and money flows, and a curated view of pending municipal finance offerings tentatively scheduled for this week’s issuance.

Last week muni volume was about $4.2 billion. This week volume is expected to be $9.9 billion. The negotiated market is led by $850 million Future Tax Bonds for New York City Transitional Finance Authority, New York. The competitive market is led by $1.59 billion General Obligation Bonds for the State of California and $1.50 billion GO’s for the State of Illinois on Tuesday.

Below and attached is neither a recommendation or offer to purchase or sell securities. Mischler Financial Group is not a Municipal Advisor. For additional information, please contact Managing Director Richard Tilghman at 203.276.6656

For reading ease, please click on image below

muni-market-pending-bond-offerings

Since 2014 alone, minority broker-dealer Mischler Financial Group Inc.’s  presence across the primary Primary Debt Capital Markets (DCM) space has included underwriting roles in which Mischler has led, co-managed and/or served as selling group member for more than $600 Billion (notional value) in new debt and preferred shares issued by Fortune corporations, as well as debt issued by various municipalities and US Government agencies.

Mischler Financial Group is the securities industry’s oldest minority broker-dealer owned and operated by Service-Disabled Veterans. Mischler is also a federally-certified Service-Disabled Veteran Owned Business Enterprise (SDVOBE).  Mischler Muni Market updates are provided as a courtesy to institutional clients of Mischler Financial Group, Inc.

This document may be not reproduced in any manner without the permission of Mischler Financial Group. Although the statements of fact have been obtained from and are based upon sources Mischler Financial Group believes reliable, we do not guarantee their accuracy, and any such information may be incomplete.  All opinions and estimates included in this report are subject to change without notice.  This report is for informational purposes and is not intended as an offer or solicitation with respect to the purchase or sale of any security.   Veteran-owned broker-dealer Mischler Financial Group, its affiliates and their respective officers, directors, partners and employees, including persons involved in the preparation of this report, may from time to time maintain a long or short position in, or purchase or sell a position in, hold or act as market-makers or advisors or brokers in relation to the securities (or related securities, financial products, options, warrants, rights, or derivatives), of companies mentioned in this report or be represented on the board of such companies. Neither Mischler Financial Group nor any officer or employee of Mischler Financial Group or any affiliate thereof accepts any liability whatsoever for any direct, indirect or consequential damages or losses arising from any use of this report or its contents.

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