Maryland DOT comes to market with $842.7 million deal

By Scott Sowers

Excerpt from the article:

(October 7, 2025) Going with a competitive sale could also provide a clearer picture of demand in the market.

"To the extent there is any give in the pricing of the bonds, logic would dictate it will be less in the case of a competitive sale of a very good name than a negotiated issue," said John Mousseau, vice chairman and CIO for Cumberland Advisors. 

The current federal government shutdown could also play a role. 

"A cursory look at government shutdowns that last more than 10 days tend to reflect a drop in interest rates, at least by the ten-year Treasury," Mousseau added.

"If you have this backdrop, this will increase demand by investors' outlook of a directional trade and demand for high quality issuers." 

MDOT's last foray into the market was successful.

Click here to read the full article on the The Bond Buyer website. 

John R. Mousseau, CFA
Vice Chairman | Chief Investment Officer
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