News Results

  1. Cautious tone ahead of FOMC, inflation report
    SourceMedia Bond Buyer | 06/11/24 03:44 PM EDT

    "We will remain cautious until CPI and the FOMC are in the rear-view mirror and as long as these don't catalyze a sell-off (since that would trigger outflows) or catalyze a sharp rally (as municipals lag rates during a sharp rally and ratios can increase optically) ... " said Vikram Rai, head of municipal markets strategy at Wells Fargo.

  2. FOMC preview: what will the dots show?
    SourceMedia Bond Buyer | 06/11/24 10:01 AM EDT

    With no change in rates expected, analysts are interested in the dot plot and Fed Chair Jerome Powell's press conference.

  3. Jobs data snaps rally; investors await smaller calendar, FOMC
    SourceMedia Bond Buyer | 06/07/24 04:41 PM EDT

    USTs spiked 17 basis points on the short end and 15 to 12 10-years and out following the release, while triple-A curves saw yields rise two to five basis points, depending on the yield curve, in a more muted and typical reaction for the asset class.

  4. Munis underperform USTs post-CPI report
    SourceMedia Bond Buyer | 05/15/24 03:59 PM EDT

    The CPI print keeps the possibility of the Fed cutting rates at least once this year, potentially at least two rate cuts if the data continues to point to a trend of inflation falling further, said Jeff Lipton, a research analyst and market strategist.

  5. Munis largely ignore moves in other markets post-FOMC, close out April in the red
    SourceMedia Bond Buyer | 05/01/24 03:45 PM EDT

    Munis posted losses in April, returning negative 1.24%. The asset class is also seeing losses of 1.62% year-to-date.

  6. FOMC preview: 'See You in September'?
    SourceMedia Bond Buyer | 04/29/24 11:17 AM EDT

    "The Fed is certainly not going to be overly concerned about the growth backdrop" at this week's Federal Open Market Committee meeting, said BMO Chief Economist Douglas Porter.

  7. Muni slightly firmer, investors prepare for CPI report
    SourceMedia Bond Buyer | 04/09/24 04:12 PM EDT

    Wednesday's CPI report will "shed more light on the path of inflation and the potential timing for rate cuts this year," said Cooper Howard, a fixed income strategist at Charles Schwab.

  8. Another robust jobs report adds volatility ahead of larger muni new-issue slate
    SourceMedia Bond Buyer | 04/05/24 04:31 PM EDT

    As another economic indicator pushed investors closer toward the assumption that rate cuts are farther away, the relationship between munis, USTs and the vast amount of capital sitting on the sidelines becomes more challenging to navigate, particularly ahead of the tax-filing deadline and growing new-issue calendar.

  9. Munis see weakness while USTs mark gains post-FOMC
    SourceMedia Bond Buyer | 03/20/24 04:11 PM EDT

    "The balance of March may continue to be better-than-expected, particularly given existing demand and decent reinvestment needs over the next 30 days," according to Oppenheimer's Jeff Lipton.

  10. FOMC preview: How many cuts and when will they start?
    SourceMedia Bond Buyer | 03/18/24 04:20 PM EDT

    Analysts ponder what the Fed will do this year with a March cut ruled out amid recent reports of higher-than-expected inflation.

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.