RBC Capital Markets, along with Wells Fargo & Co., has been removed from underwriting muni deals in the thriving municipal-bond market in Texas, following Texas Attorney General Ken Paxton’s investigation into the energy policies of finance companies.
![Investigation into energy policies disrupts Texas muni market, leading to RBC's removal from underwriting deals. PHOTO: Alex Tétreault/NationalO](https://krugmaninsights.com/wp-content/uploads/2023/10/180621-ate-rbc-bank-sparks-street-3-1024x683.webp)
This inquiry specifically targets eight Wall Street bond underwriters,