Bonds

Recent months have painted a picture of the municipal bond landscape that seems rosier than the reality warrants. A surge in inflows into municipal bond mutual funds—over $2.3 billion in a single week—suggests investor confidence is rebounding. However, this apparent optimism is misleading. Such massive inflows, driven largely by high-yield ETFs and reallocation strategies, can

Charlotte’s recent elevation of Matthew Hastedt to the role of chief financial officer symbolizes a city proud of its fiscal prowess, but such confidence borders on hubris. While the city touts its impeccable credit ratings and disciplined financial management, it’s imperative to scrutinize whether this veneer masks underlying vulnerabilities hiding beneath the surface. As financial

In the first half of 2025, municipal bond issuance has seen remarkable growth, most notably in sectors like electric power and education, with increases of 47.8% and 31.6% respectively compared to the previous year. While some may interpret this as a sign of economic vitality, the reality exposes underlying vulnerabilities that threaten fiscal sustainability. These

In a daring move that signifies both boldness and recklessness, Beth Israel Lahey Health (BILH) is undertaking a massive financial leap to establish a groundbreaking cancer center in Boston through its partnership with the esteemed Dana-Farber Cancer Institute. While such alliances may seem like a logical step towards elevating regional healthcare standards, the real story

In an era where centralized utilities often dominate headlines with their inefficiencies and political entanglements, Marin Clean Energy (MCE) stands as a testament to the potential of localized, innovative energy governance. The recent upgrade of its credit rating to A3 from Baa1 by Moody’s is not merely a bureaucratic feather in its cap; it’s a

Climate change is not just an environmental concern; it’s an economic peril that subtly infiltrates the financial stability of vital public institutions. Recently, an academic investigation presented at the Brookings Institution unveiled the stark reality that wildfire risks are now being baked into the cost of financing public assets—specifically, school districts. This revelation underscores a

Houston’s latest move to issue $719.5 million in municipal bonds for airport improvements epitomizes the seductive allure of ambitious infrastructure projects. While on the surface, this financial maneuver appears to bolster the city’s growth prospects, a deeper analysis reveals it’s more about perpetuating a cycle of over-leverage and inflated expectations. Cities often trumpet these bond

The recent debut of New York’s first-ever prepay energy bonds signals a bold step—yet it also solidifies a troubling reality within our energy and financial markets: a disjointed, overly complicated regulatory environment that hampers innovation while offering false hope for cost savings. There’s an underlying tension here. On the surface, this $944 million deal appears

Utah’s largest school district, Alpine, is embarking on a significant financial maneuver with a $201 million bond issuance aimed at funding new school buildings amidst a controversial restructuring plan. The move epitomizes a broader trend in public finance—leveraging debt to finance growth, often under the guise of improving educational access. However, beneath the surface lies