A flurry of diverse credits in the primary helped to guide the secondary with the 10-year falling below 1% on both Bloomberg BVAL and IHS Markit as municipals continue to grind lower. One-year municipal debt has fallen to record lows with benchmark yield curves at 0.05%. The yield currently on the 30-year municipal triple-A hovers at or just below the 10-year U.S. Treasury. New deals in both the competitive and negotiated markets were oversubscribed…
Source: Bond Buyer.

The governor didn’t sign or veto the Energy Choice Act, merely letting it become law. Now, no Kansas municipality can put a ban on the use of natural gas, a result desired by those in the natural gas industry. This comes after fears that cities would have done so after Berkeley, California, put a ban into place in 2019. The city of Lawrence had opposed this bill, as it had committed previously to powering the city with all renewable energy by 2035. With the act now law, it’s going to complicate if not outright stop, that effort.
Source: GC Telegram.

The interest rate table above illustrates recent changes in a sample of MBIS “investment grade” yields. Every issuer’s credit is different. For rates that may be applicable to your municipality, contact our Municipal Bond Advisors, Larry Kleeman and Beth Warren.

After a 2-2 vote, the mask mandate for the City of Salina will continue. As it was a topic that concerned many of the citizens who attended the Salina City Commission meeting Monday, the discussion on the mandate was moved up to the first action item of the agenda. The commission heard an update about COVID-19, including infection rates and vaccination rates, from Saline County Health Officer and Health Department Director Jason Tiller.
Source: Salina Journal.