Mexican law enforcement announced on Tuesday the arrest of a top municipal security official for the assassination of the mayor of the capital of the violence-plagued state of Guerrero. The murder and decapitation of Chilpancingo Mayor Alejandro Arcos shocked the country, coming just days after he took office.
KBRA places the City's G.O. Bond rating on Watch Downgrade and assigns a long-term rating of "A" to the City of Chicago?s General Obligation Bonds, Refunding Series 2024B and Taxable Refunding Series 2024C. Concurrently, KBRA affirms the long-term rating of "A" on the City's outstanding General Obligation Bonds.
KBRA assigns a long-term rating of AA- with a Stable Outlook to the City of Chicago Second Lien Wastewater Transmission Revenue Bonds, Refunding Series 2024B. The Second Lien Wastewater bonds are limited obligations of the City of Chicago, payable solely from a second lien on net revenues of the sewer revenue fund.
KBRA assigns a long-term rating of AAA to the State of Connecticut Special Tax Obligation Bonds, Transportation Infrastructure Purposes, 2024 Series A and Special Tax Obligation Refunding Bonds, Transportation Infrastructure Purposes, 2024 Series B. KBRA additionally affirms the long-term rating of AAA for the State's outstanding Special Tax Obligation Bonds, Transportation Infrastructure Purpo...
Eaton Vance Municipal Bond Fund (EIM) previously announced that the Fund will conduct a tender offer for up to 5% of the Fund?s then-outstanding common shares if, during the four-month measurement period beginning July 9, 2024 through November 8, 2024, the Fund?s common shares trade at an average discount to net asset value of more than 7.5%. The Fund has determined that the conditions of the First T...
The focus: municipal advisors ? part of your regulatory responsibilities and duties (if you don't agree to evaluate pricing and/or structure, you must expressly disclose it to the client) and broker-dealers (fair dealing).?
Tax-exempt money market funds reached a 2024 high of assets under management at $136.84 billion for the week ending Wednesday, according to the Investment Company Institute.
"A sharply lower new-issuance calendar, peak yields, large redemption money and mutual funds inflows are all positive performance factors for the market," BofA strategists said.
Voters approved at least 168 local school bond measures for $42.8 billion, according to preliminary tallies, but dozens of bond requests will fall short.
Nashville, Tennessee, voters approved a $2 billion bond measure, while Lancaster County, South Carolina, and Cary, North Carolina, opposed the bond referendums.
Despite the post-election selloff, inflows continued?this week as LSEG Lipper reported investors added $1.263 billion to municipal bond mutual funds for the week ending Wednesday, compared to $658.5 million of inflows the prior week. High-yield inflows returned.
The turnpike plans to sell $1 billion of revenue bonds in 2025's first quarter to continue funding for an expansion project now estimated to cost $8.2 billion.
The Bond Buyer's Deal of the Year awards will mark the 23rd year it has recognized outstanding achievement in municipal finance. The event, to be held Dec. 3 in New York City, will also include the presentation of the Freda Johnson Awards for Trailblazing Women in Public Finance.
Additional $100 million in Alternative Minimum Tax Convertible Capital Appreciation Bonds issued are first of their kind at any U.S. airport?. NEW YORK, Nov. 7, 2024 /PRNewswire/ -- JFK Millennium Partners, the Vantage Group-led company selected by the Port Authority of New York and New Jersey to build and operate the new JFK Terminal 6, has successfully completed a planned issuance of nearly ...
Ratings for MarketAxess Holdings (MKTX) were provided by 8 analysts in the past three months, showcasing a mix of bullish and bearish perspectives. The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
Unless the state government makes changes to taxes or spending, there will be deficits of $587 million to more than $800 million starting in the next fiscal year.
The red wave that took the presidency and the Senate ? along with increased odds of a Republican victory in the House ? was hanging heavily over fixed income markets Wednesday, with munis and UST yields rising up to 17 basis points, with the largest losses out long.
The University of Texas at Austin's Center on Municipal Capital Markets will provide graduate and continuing education programs, research reports, and public outreach.
"If the GOP wins the House, the specter of risk to the municipal bond tax-exemption will increase," said Edwin Oswald, a tax partner at?Orrick?Herrington & Sutcliffe in Washington D.C.
With the rollout of a new final EPA rule, Midwest municipalities are seeking ways to finance lead pipe replacement efforts, including through revenue bonds.
"A victory for former President?Trump?is likely to be viewed as ushering in a more inflationary environment, whereas a win for Vice President Harris will probably be seen as closer to the status quo," said Erik Weisman, chief economist and portfolio manager at MFS Investment Management."
BNY Mellon Municipal Bond Infrastructure Fund, Inc. (DMB) today announced a distribution of $0.0300 per share of common stock, payable on December 2, 2024 to shareholders of record at the close of business on November 20, 2024. The Fund intends to make regular monthly distributions to its common shareholders at a level rate based on its projected performance.
Investors should "brace themselves" for further volatility, as uncertainty is likely to remain, said?Tom Kozlik, managing director and head of public policy and municipal strategy at HilltopSecurities.
Potential new Senate Finance Committee Chair Sen. Mike Crapo, R-Idaho, has suggested a potential workaround to offset the cost of extending the Tax Cuts and Jobs Act.
The Philadelphia-based university straddles the higher education and healthcare sectors, but market demand suggests it's greater than the sum of its parts.
Issuance will "not completely disappear, but will adjust to its seasonal norm from the record-breaking pace of the past several months," said Barclays (JJCTF)' Mikhail Foux.
The increase in the muni market's size, number of novel credits and retail investors suggest it's "finally time" for direct SEC regulation, argue market veterans Kent Hiteshew and David Dubrow.
NYLI MacKay DefinedTerm Muni Opportunities Fund (MMD) today announced monthly dividend distributions of $0.06 per common share for the month of November 2024. Portfolio and municipal market commentary will be published on or around November 1, 2024 and can be retrieved here.
October's "price path has created wider spreads but also brought higher yields that are now in the range where a broader audience may begin to take notice," said NewSquare Capital Senior Fixed Income Portfolio Manager Kim Olsan, noting higher taxable equivalent yields for different tenors of the yield curve.
The month's total is above the 10-year average of $40.288 billion. The market needs to see about $45 billion of issuance in November and December to hit an all-time record year.
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.