The Shield – Higher Education Rating Agency Medians
Higher Education Rating Agency Medians – Some Stabilization in FY 2023, but Enrollment and Operational Challenges Remain In fiscal 2023, the sunsetting of federal pandemic relief aid and growing inflationary pressures weighed on public and private universities alike, pressuring operations and driving margins down to pre-pandemic levels or below. Enrollment
How Municipal Advisors Support Small Private Higher Education Institutions in Financial Distress
In the highly competitive environment of higher education, small private institutions often wrestle with financial roadblocks that require specialized expertise and knowledge to navigate effectively. Municipal advisors often help small privates overcome these obstacles and accomplish their goals in times of financial distress. Understanding the Financial Atmosphere Small private
Basis Points: Reinvest Market Update
Markets reacted strongly in the past week following the July non-farm payroll report coming out lower than expected, along with an increase in the unemployment rate. As a result, treasury rates fell rapidly. In the past week, treasury rates decreased ~26-32 basis points in the 1-3 year range and 6-15
Benefits of Engaging a Municipal Advisor When Reinvesting Bond Proceeds
The market environment over the past year has been volatile, but there are two characteristics that have remained relatively consistent: the inversion of the yield curve and lower-than-average tax-exempt to taxable ratios. This has resulted in many borrowers having the opportunity to reinvest their tax-exempt bond proceeds in higher short
The Shield – July Market Update
In our previous market update published in mid-May, we focused on interest rate volatility and signaling from the Fed on its rate outlook for the remainder of the year. While rate volatility has somewhat calmed, the interest rate environment is still elevated relative to the last several years. As volatility
The Shield – Transitioning From LIBOR: A Year With SOFR
A little over a year ago, the transition from the London Interbank Offered Rate (“LIBOR”) to the Secured Overnight Financing Rate (“SOFR”) occurred. This transition had been in the works for several years and officially concluded in June of 2023. Below, we summarize some important milestones that have transpired since
Blue Rose Capital Advisors is Presenting at the NACUBO Annual Meeting
Blue Rose Capital Advisors’ James McNulty, Managing Director, is presenting at the NACUBO Annual Meeting in Chicago, IL, July 20th – 23rd, 2024. Mr. McNulty will present on the Make Workforce Development Work: Building an Environment Focused on Student Outcomes panel from 4:00 – 5:15 pm on Sunday, July 21st. Will
Basis Points: June Market Update
Based on the Federal Reserve sentiments and economic data from mid-June, the market is still expecting to see at least one Fed Fund rate cut before the end of the year. The inverted treasury yield curve, combined with the lower than average tax-exempt to taxable ratios, continues to present an
The Shield – May Market Update
Markets have remained volatile through the first four months of 2024, continuing a theme that we observed at the end of last year. Rates have moved significantly higher and equity indexes sit near all-time highs. However, there is significant uncertainty around how the rest of the year will unfold. Much
Basis Points: Positive Arbitrage Persists in the Market, Increasing in Certain Circumstances
CPI data came out higher than anticipated this month, a signal to investors and market participants that the Fed may not be ready to cut rates just yet. The probability of a rate cut in June is currently ~11.3%, while it had been ~50% earlier this month. This suggests that
The Shield – Market and Company Update
Blue Rose Presented at the WHEFA Lunch & Learn Webinar Blue Rose Capital Advisors Erik Kelly, President, and Brandon Lippold, Vice President, shared industry insights and financial strategies to address unique market activity during their presentation at the Wisconsin Health & Education Facilities Authority’s (WHEFA) Lunch & Learn Market Update
Blue Rose’s Lily Greenway passes MSRB Series 50 Exam
Blue Rose Capital Advisors announces that Lily Greenway, Analyst, has passed the MSRB Series 50 Examination to become a qualified municipal advisor representative. The Series 50 Examination must be taken by all municipal advisor professionals to engage in municipal advisory activities on behalf of a municipal advisor firm.
Blue Rose Capital Advisors Will Present at the MHEFA Annual Conference
Blue Rose Capital Advisors’ Erik Kelly, President, and Max Wilkinson, Vice President, are presenting on the Municipal Advisor Panel at the MHEFA 36th Annual Conference in St. Paul, MN, on April 17, 2024. Will you be attending? We would love to connect! Contact Blue Rose: (952) 746-6050 [email protected]
Blue Rose Capital Advisors LLC is Excited to Announce Its Partnership with Excelsior Capital Advisory Services LLC
MINNEAPOLIS, MN – March 27, 2024 – Blue Rose Capital Advisors LLC is excited to announce its partnership with Excelsior Capital Advisory Services LLC. Blue Rose, an independent municipal advisor to higher education and non-profit organizations, will serve as a co-advisor with Excelsior in providing various capital planning and debt-execution
Blue Rose Capital Advisors is Presenting at the WHEFA Lunch & Learn Webinar
Blue Rose Capital Advisors Erik Kelly, President, and Brandon Lippold, Vice President, will present at the Wisconsin Health and Educational Facilities Authority (WHEFA) Lunch & Learn Webinar on March 26, 2024. Erik and Brandon plan to share their insights and perspectives on: Year-to-date 2024 market activity Industry prognostications on
FAFSA Delays and SIFMA Index Volatility Among Key Market Considerations to Open 2024
As FAFSA Challenges Persist, Colleges and Universities Scramble to Adjust By now, colleges and universities are quite familiar with the unique challenges that changes to the FAFSA (Free Application for Federal Student Aid) pose to financial aid offices for 2024-25. Typically available to prospective students beginning in October, the Department
Basis Points: Market Update for March 7, 2024
Based on the Federal Reserve’s sentiments and economic data, the market is still expecting to see fed fund rate cuts this year – with fed fund futures pricing in 3-4 cuts before 2025. The inverted treasury yield curve, combined with the lower-than-average tax-exempt to taxable ratios, continues to present an
Lily Greenway Joins Blue Rose Capital Advisors as an Analyst
We are pleased to announce that Lily Greenway has joined the Blue Rose team as an Analyst. Ms. Greenway holds a Bachelor of Economics, Public Policy & Sustainability from the University of New Hampshire and she is currently working towards a Master of Public Administration with a specialization in Public
Blue Rose’s Scott Talcott Earns CTP Certification
Blue Rose Capital Advisors announces that Scott Talcott, Senior Vice President, has obtained Certified Treasury Professional (CTP) certification from the Association for Financial Professionals. The Certified Treasury Professional Exam is recognized as the leading credential in treasury management worldwide. Mr. Talcott joined Blue Rose in 2016 and provides
Basis Points: The Slope of the Yield Curve and How it Affects Refunding Escrows
While the term “normal yield curve” refers to a positively sloping yield curve, the marketplace has become accustomed to an inverted yield curve for quite some time. The treasury curve, from the 6-month to 30-year point, has been inverted since September 2022. We’ve seen this create a benefit for issuers
Katie Auren Joins Blue Rose Capital Advisors as Controller
We are pleased to welcome Katie Auren to the Blue Rose team as Controller. Ms. Auren has more than 15 years’ experience working in various aspects of accounting, most recently serving as Senior Accountant at Blu Dot Manufacturing and Design. Her previous roles also include Controller for Penn Strategic Imports
The Shield – Looking Back, Looking Ahead
It is with great joy that our Blue Rose advisory team serves organizations across the country with the goal of improving their financial health. In 2023, we had the opportunity to positively impact numerous higher education institutions, non-profits, and governmental entities advising on matters related to long-term capital planning, capital
Blue Rose’s Benjamin Pietrek Promoted to Associate
Blue Rose Capital Advisors announces that Benjamin Pietrek has been promoted to Associate. Mr. Pietrek joined Blue Rose in 2022 as an Analyst, providing analytical, research, and transactional support to the lead advisory team serving higher education, non-profit, and government clients with debt advisory, derivatives advisory, and reinvestment advisory services.
Laura Klingelhutz Joins Blue Rose as Marketing Coordinator
Blue Rose Capital Advisors announces that Laura Klingelhutz has joined the Blue Rose team as Marketing Coordinator. Ms. Klingelhutz joined Blue Rose and sister-company HedgeStar in 2022 as Marketing Generalist Intern and became the Marketing Generalist part-time in 2023, aiding with digital marketing, event planning, and market research efforts. Prior
Blue Rose Capital Advisors – Holiday Event 2023
To celebrate our year together as a company, Blue Rose Capital Advisors, along with sister company HedgeStar, joined together for our annual holiday event. We enjoyed time volunteering at Feed My Starving Children, exchanging gifts in a white elephant gift exchange, and practicing our curling skills at the Chaska Curling
Market Update: SLGS vs. OMS in the Current Market
Understanding Your Long-Term Credit Rating
The Key Role of Municipal Advisors in Pricing Bonds
The Shield – Blue Rose: A Trusted Advisor in an Uncertain 2025
Understanding Green Bonds
Blue Rose’s John Elliott Promoted to Vice President
Final Fed Rate Cut and Basis Points Market Update for 2024
Enrollment Trends for 2024 and Beyond
P3 Advisory Services – Blue Rose’s Approach to Public-Private Partnerships
