Muni yields were little changed, and have barely moved over the past several trading sessions, said Kim Olsan, senior fixed income portfolio manager at NewSquare.
State legislators are prepping for a coming storm of budget turmoil caused by shifting Medicaid policy as the era of historic tax cuts appears to be ending.
Municipal bond supply projections for next year range from a high of $750-plus billion to a low of $520 billion, with most firms expecting issuance to hover around $600 billion, easily surpassing 2025's record.
While muni returns moved lower last week, year-to-date returns still hover around 4%, said Jason Wong, vice president of municipals at AmeriVet Securities.
Market Intelligence analyst Jeff Lipton finds that low debt burdens, stronger rainy-day funds, improved pension metrics and robust legal safeguards help states remain a core source of stability and diversification for muni portfolios despite slowing growth and fiscal headwinds.
Legislation to increase the affordable housing supply which often includes bond sales is getting attention in Congress as the bipartisan ROAD to Housing Act hits a speed bump.
"Ultimately, this report is essential because member firm compliance protects investors and safeguards the integrity of our markets," FINRA's Greg Ruppert said.
Issuers mostly avoided pricing deals in the previous weeks the Fed met this year, but that's not the case this week, said Pat Luby, head of municipal strategy at CreditSights, and Wilson Lees, an analyst at the firm.
This is the first upgrade of bonds supported by assets currently or formerly in the Puerto Rico government's hands since the passage of PROMESA in 2016.
Investors are about to get a chance to buy bitcoin-backed municipal bonds. It won't be the last, according to the team behind the New Hampshire-based deal.
The Trump administration is requesting information on revitalizing Dulles International Airport, including the possibility of tapping a public-private partnership.
C. Christopher Trower was the lead attorney before the Supreme Court in a case that upheld states' rights to preferential tax treatment of their own bonds.
The Regents of the University of California will sell $2 billion of bonds next week after yanking a $1.5 billion summer deal amid Trump administration threats.
Robust issuance this year has contributed to muni underperformance relative to other asset classes, but it also has "improved after-tax relative value for investors in higher tax brackets," said Sam Weitzman of Western Asset.
Race and sex-based preferences were removed from the state's Historically Underutilized Business program, which will focus exclusively on veteran-owned firms.
Dozens of lawmakers are bailing out of Congress before the midterm elections adding new wrinkles to the fading possibility of a second budget reconciliation which could require revenue raisers detrimental to the muni market.
"The Nominating Committee's goal is to achieve broad representation of the municipal securities market on the MSRB Board of Directors," the committee's chair said.
The muni market is dealing with elevated supply this week and secondary flows have "reacted in tandem," said Kim Olsan, senior fixed income portfolio manager at NewSquare Capital.
Fortress Investment Group bought the property in 2021 after it was largely destroyed by Hurricanes Irma and Maria and financed a major renovation that featured reinforcement standards designed to protect against a category 5 hurricane.
After selling $260 million of voter-approved bonds for the project, county officials are eyeing a sales tax ballot measure in 2026 to cover the higher cost.
The county treasurer's new report describing large hikes in Chicago residential tax bills effectively takes property tax hikes off the table for the city.
The transaction, which supports the Navajo community in Ganado, Arizona, represents a major landmark in furthering Native American health care infrastructure, overcoming hurdles tribal governments typically face in issuing municipal debt to open a replicable path to market other indigenous health systems can follow.
The toll road agency's financial and other practices were targeted in a November legislative study, which could lead to another round of reform legislation.
The muni market recorded its fourth straight month of positive returns in November and December is likely to keep the streak going with another strong month to round out the year.
Bond issuers in the water sector are concerned about a reduction in WIFIA loan closings as some point to competition from municipal bonds as a cause for a decline in their popularity.
Moody's Ratings has put McLaren Health Care Corporation's A1 revenue bond ratings under review for downgrade after Indiana ended a key Medicaid contract with the company.
Wisconsin's February deal introduced a fixed spread tax-exempt tender that saved taxpayers millions ? and won The Bond Buyer's Deal of the Year award in the innovation category.
"Dealer inventories have grown heavier throughout [November], which could put pressure on the market if supply reverts to its weekly average of over $10 billion," said Chris Brigati, CIO and managing director of SWBC, and Ryan Riffe, SVP of capital markets at the firm.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.
Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.
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