Chicago panel split on road ahead in 2025
Dr. Bob Froehlich, John Rogers, Jr. and Diane Swonk took the stage on the Executives’ Club of Chicago’s Annual Economic Outlook panel Tuesday. Executives’ Club of Chicago The Fed could…
Bonds
Alternative capital can provide wildfire capability, but pricing a sticking point: Morningstar DBRS
With wildfires becoming a more recurring peril for the California property insurance market, alternative capital could also be available to supply coverage, including through multiple-peril alternative reinsurance capital instruments, nevertheless…
Reserve draw on Buckeye tobacco amid payment disputes
As cigarette sales decline and tobacco giants lose market share to vaping upstarts, some assumptions underlying tobacco securitization bonds have been upended. Bloomberg News Lower than five years after Ohio…
NFIP’s Helene loss estimate rises to $6.75bn. Two cat bonds prolonged with partial repayment
Artemis has learned that FEMA has increased its estimate for National Flood Insurance Program (NFIP) losses from hurricane Helene, raising the figure to $6.75 billion and consequently two FloodSmart Re…
Trump’s Second Presidency And Municipal Market
As we stay up for 2025 and the potential impact of Donald Trump’s presidency on municipal bondholders, several key aspects will shape the bond market. Trump’s policies—starting from tax reform…
Alfred Williams, municipal bond firm founder, dies at 89
When Alfred H. Williams got his start within the industry, the one method to know what was available in the market was the “blue list.” “Most individuals had their blue…
ICEYE satellite evaluation: Over 10,900 buildings likely destroyed in Palisades and Eaton fires
Evaluation from ICEYE, the provider of satellite data and services to tell decision-making and evaluation, suggests that greater than 10,900 buildings have likely been destroyed by the Palisades and Eaton…
Moody’s upgrades Denver Public Schools bond rankings
East High School in Denver. Moody’s Rankings upgraded Denver Public Schools’ general obligation rankings ahead of an $806 million bond sale later this month. Adobe Stock Denver Public Schools will…
LA fires: “Considerable attachment erosion” likely for some aggregate cat bonds – Steiger, Icosa
With loss estimates for the Los Angeles, California wildfires having risen, there’s now more likely to be “considerable attachment erosion” for some aggregate catastrophe bonds that hold exposure to the…
First Eagle high-yield municipal bond fund off to strong start
John Miller joined the boutique firm First Eagle Investments in late 2023 where launched a high-yield fund that climbed to $5 billion the primary 12 months with returns of virtually…