Marking the passing of muni market titan Robert Doty

Robert Doty, the veteran lawyer, underwriter, financial and municipal advisor, law professor, special consultant, expert witness and author of numerous publications, who played an early and instrumental role in developing disclosure rules for the municipal market, has died. He was 81. Doty's passing in April came after a years-long battle with cancer. The public finance industry has lost a titan whose influence can hardly be overstated, according to other longtime lawyers and advisors who said everyone knew him and everyone learned from him.

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A plastics recycling plant in Ohio that company officials promise will "change the landscape of recycling" has launched initial operations after years of construction delays that triggered a bond default designation. "This is the moment we've been working toward for the last decade," PureCycle Technologies LLC CEO Dustin Olson said Wednesday during a second-quarter earnings call.

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The Federal Emergency Management Agency's response to the wildfires that took the Hawaiian island of Maui by storm will likely add pressure to negotiations to replenish FEMA’s dwindling Disaster Relief Fund, which will be a major focus when Congress returns from recess Sept. 5.

Click to see the first half’s top issuers, underwriters, and financial advisors.

Puerto Rico's local government received another strike against its efforts to change its labor laws after the U.S. Court of Appeals for the First Circuit Thursday ruled the U.S. District Court for Puerto Rico in March was correct in upholding the Oversight Board's right to reject a 2022 labor law.

Check out our most recent Rising Stars and the second class of Muni Hall of Famers.

The top two municipal bond insurers wrapped $15.571 billion in the first half of 2023, a 12% decrease from the $17.689 billion of deals done in the first half of 2022, according to Refinitiv data. Market demand for bond insurance increased quarter-over-quarter, up 72% in the second quarter of 2023. Total insured penetration for the second quarter was 10.1%, the highest penetration rate since 2009.

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Municipals were mixed in secondary trading Tuesday amid an active primary that saw two large airport deals from Dallas-Fort Worth and Atlanta price. U.S. Treasuries were also mixed, and equities sold off.

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