PUBLIC FINANCE TRENDS
Credit Spread and Flat Yield Curve
Despite the recent rise in interest rates, this analysis shows that interest rates are still lower overall than they were a year ago.
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PUBLIC FINANCE TRENDS
Credit Spread and Negligible BQ Benefit
the neglibile BQ benefit continues to persist, at least through the early part of the yield curve.
PUBLIC FINANCE TRENDS
Low Rates Continue
The AA+ bank qualified (BQ) negotiated sale sold at approximately 30 basis points (bps) wider than the Aa1 BQ competitive sale as early as 2022
PUBLIC FINANCE TRENDS
The Competitive Sale and BQ Bond Advantage
This month, we examined two bond issues from August. One was sold on a negotiated basis and the other on a competitive basis. Both issues were bank qualified (BQ) with similar ratings and par amounts.
PUBLIC FINANCE TRENDS
Credit Spreads and Change in IL Impact
This month, we analyzed the impact of a credit differential between a AAA bond issue and a Aa2 bond issue. The AAA issue sold at approximately 12-30 bps lower than the Aa2 issue, which is expected given the two notch rating advantage.
PUBLIC FINANCE TRENDS
National & State Market Update
This month, we compared two Aaa bank-qualified (BQ) transactions that reflect the degree to which interest rates have decreased since the end of 2016: one deal priced in December 2016 and the other in May 2017
PUBLIC FINANCE TRENDS
BQ Benefit and Method of Sale
This month’s analysis sheds light on the benefit of bank-qualified (“BQ”) bond issues by comparing an insured Illinois (“IL”) A+ NBQ bond issue with an insured IL A1 BQ issue. When comparing these two bond issues, the BQ benefit appears to be minimal for the first nine years.
View Full List of 2017 Public Finance Market Update
View Full List of 2016 Public Finance Market Update
