The Internal Revenue Service is requesting documents from the Erie City Water Authority regarding a $36,320,000 issuance of Water Revenue Bonds Series D of 2019.
The revenue bonds, which would help finance a bigger convention center to replace the city's current facility, would be issued in the first half of 2026.
Municipal bond insurers wrapped $7.316 billion in the first quarter of 2025, a 2.6% increase from the $7.132 billion insured in the first quarter of 2024, according to LSEG data.
VALLEY FORGE, Pa., May 22, 2025 ?Vanguard today launched Vanguard Long-Term Tax-Exempt Bond ETF and Vanguard New York Tax-Exempt Bond ETF, two index municipal bond ETFs managed by Vanguard Fixed Income Group.
The state supreme court agreed to review the ruling in favor of a group of Wall Street banks that whistleblower Edelweiss said cost the state at least $100 million.
"Light demand" for Wednesday's 20-year Treasury bond auction "propelled yields to the nosebleeds and equities to the basement," said Jos? Torres, senior economist at Interactive Brokers.
KBRA assigns ratings to nine serial bonds and one term bond issued by New York State Energy Research and Development Authority Residential Clean Energy and Energy Efficiency Financing Green Revenue Bonds, Series 2025A, a $60.0 million asset-backed securitization collateralized by residential solar loans and home improvement loans originated by New York State Energy Research and Development Auth...
KBRA assigns a long-term rating of A- to the City of Chicago, IL: General Obligation Bonds, Series 2025A; General Obligation Bonds, Series 2025B; General Obligation Bonds, Series 2025C; General Obligation Bonds, Taxable Series 2025D; General Obligation Bonds, Series 2025E; General Obligation Bonds, Series 2025F; and, General Obligation Bonds, Taxable Series 2025G.
The fine for violating MSRB rules was imposed as part of a wider FINRA disciplinary action that saw brokerage firm Calton & Associates?fined a total of $75,000.
As the budget reconciliation lurches through Congress towards a vote, the cap on state and local taxes remains a key bargaining chip while data shows state tax revenue declining and an uncertain future for the pass-through-entity workarounds adopted by more than 30 states.
Teva Pharmaceuticals?today announced that Fitch Ratings Agency has raised the Company's corporate credit rating to BB+, with a stable outlook; from BB. Fitch's report cites Teva's progress in reducing debt and improving flexibility, expects continuous revenue growth from AUSTEDO and AJOVY, as well as Teva's biosimilar pipeline.
The "risk to the tax exemption appears to have dropped sharply as of last week ... taking with it the hypothetical risk of a supply surge ahead of any end-date for borrowers' exemption access," said Matt Fabian, a partner at Municipal Market Analytics.
Chicago is "diligently preparing" to sell debt, now that the bond market has mostly recovered from April's turmoil, Chief Financial Officer Jill Jaworski said.
The forum's annual awards went to Joseph A. Branca of BofA Securities, Jim Reynolds of Loop Capital Markets and Sarah K. Sanders, Connecticut deputy treasurer.
Texas Capital joined the ranks of firms like Crews & Associates adding public finance talent, while SIFMA and Arteria AI partnered on a new platform in May.
KBRA assigns a long-term rating of AA to the Metropolitan Government of Nashville and Davidson County's Water and Sewer Revenue Refunding and Improvement Bonds, Series 2025. Key Credit Considerations The rating was assigned/affirmed because of the following key considerations: Credit Positives. Credit Challenges. Rating Sensitivities For Upgrade. For Downgrade.
These conversions will offer the same municipal bond strategies with the structural features of an ETF Franklin Templeton today announced plans to convert 10 Putnam municipal bond mutual funds into exchange-traded funds, marking a significant expansion of its municipal bond ETF lineup following the acquisition of Putnam Investments in January 2024.
"Munis are no longer moving on headlines; they're reacting to rates and supply," which is playing out again Monday after a choppy March and April, said James Pruskowski, chief investment officer at 16Rock Asset Management.
BNY Mellon Investment Adviser, Inc. announced today that BNY Mellon Strategic Municipal Bond Fund, Inc. (DSM) and BNY Mellon Strategic Municipals, Inc. (LEO) have declared a monthly distribution for each Fund's common shares as summarized below. Important Information BNY Mellon Investment Adviser, Inc., the investment adviser for each Fund, is part of BNY Investments.
Pops, a managing director at cfX, a municipal advisory firm serving housing finance agencies, brought passion and institutional knowledge to the sector.
The rating agency, which gave the state a positive outlook a year ago, upgraded its general obligation rating a notch to AA-plus ahead of a $25 million bond sale.
CUSIP Global Services today announced the release of its CUSIP Issuance Trends Report for April 2025. North American corporate CUSIP requests totaled 7,676 in April, which is down 9.1% on a monthly basis. The aggregate total of identifier requests for new municipal securities ? including municipal bonds, long-term and short-term notes, and commercial paper ? rose 24.0% versus March totals.
A couple of "bond-friendly" economic reports released Thursday could encourage the Federal Reserve to reduce interest rates in the near future, some analysts argued.
Moody's downgrading of Maryland's credit rating is resulting in finger pointing among state lawmakers, questions about spending levels, and concerns about the state's spotless record.
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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