Municipal Market Analytics, Inc.’s Post

Yesterday, New Orleans, LA sold $183M GO bonds to Truist Securities Inc.; A2/A+/A/NR. There were seven bidders for the deal, which was a relatively normal total. The 5s of 2034 were priced to yield 3.24%. The evaluation of 5s of 2034 from an October 2022 offering was 3.28% on Tuesday heading into the sale. The attached graph tracks the evaluation of the 5s of 2034 as well as their spread to AAA. Spreads have narrowed YTD, but widened MTD. On July 26, Fitch revised the city’s outlook from stable to negative, citing budgetary pressures due to rising actuarially determined contributions to the city’s pension funds.

  • No alternative text description for this image

To view or add a comment, sign in

Explore topics