Saybrook Fund Advisors LLC has made waves in the high-yield municipal investment arena by bringing aboard seasoned portfolio manager Bill Black to spearhead their inaugural high-yield separately managed account (SMA) strategy. Black’s reputation precedes him; he’s been a key figure in high-yield portfolios since 1984, with a rich history working at respected firms such as
Bonds
The University of Pittsburgh Medical Center (UPMC) recently jolted the financial markets with its ambitious $735 million bond deal—a striking move that signals both confidence and a paradoxical defiance of recent industry downturns. The hefty bond issuance reflects UPMC’s strategy to repay existing debts while simultaneously funding critical capital projects, but the question looms: Is
The atmosphere surrounding the municipal bond market is anything but placid. Recent weeks have witnessed a tumultuous struggle as the financial landscape groans under the weight of insufficient demand juxtaposed against an overwhelming supply. According to Jason Wong from AmeriVet Securities, a new reality is dawning: the combination of lackluster consumer price index figures and
The municipal bond market is currently engulfed in a troubling environment, characterized by a concerning imbalance between supply and demand. Recent trends reveal a steady downward trajectory in municipal bond yields, a scenario that poses significant challenges for investors. As market volatility persists, the implications for municipalities issuing bonds become increasingly stark. Investors are pulling
The recent decision by the Kentucky State Property and Buildings Commission to authorize up to $860 million in bonds raises significant concerns about the long-term financial health of the state and its citizens. While proponents will argue that these funds are essential for stimulating housing and education, one must question the wisdom of burdening future
The recent decision by the Kentucky State Property and Buildings Commission to authorize up to $860 million in bonds raises significant concerns about the long-term financial health of the state and its citizens. While proponents will argue that these funds are essential for stimulating housing and education, one must question the wisdom of burdening future
As we delve into the intricate workings of the municipal bond market, it becomes clear that we are currently witnessing a landscape characterized by fluctuations and uncertainties. With yields inching up in the U.S. Treasury market while municipal bonds hung tough, the delicate balance that governs this market is gently leaning towards potential vulnerability. Particularly
The municipal bond market is experiencing turbulence, a situation that cannot be overlooked. Recent statistics show significant yield adjustments, with cuts reaching up to nine basis points for longer-term munis. Meanwhile, the U.S. Treasury yields are displaying a mixed response, largely influenced by an air of uncertainty hovering over broader economic policies. As Cooper Howard
Houston has recently unveiled an audacious expansion plan for the George R. Brown Convention Center, estimated to cost $1 billion, prompting both excitement and skepticism within the community. This ambitious project aims to significantly enhance Houston’s status as a premier destination for conventions and events. With plans to introduce a massive 700,000-square-foot south exposition building
Fort Worth, Texas, a city buoyed by its growth and increasing urban appeal, is embarking on an ambitious journey in 2023 by planning to sell nearly $400 million in debt. This financial maneuver is not just a high-stakes gamble; it’s a reflection of the city’s broader aspirations and the implications for its residents. While such