The US Supreme Court refused to block a class-action suit accusing eight major banks of fixing prices on state and municipal bonds, news outlets reported Monday. The court rejected the banks' appeal and upheld an earlier court decision to certify the class action filed by cities including Baltimore, Philadelphia, and San Diego, according to the reports.
The U.S. Supreme Court declined on Monday to hear a bid by Bank of America (BAC) and seven other major financial institutions to prevent American cities from banding together in a $12 billion class action accusing them of artificially inflating interest rates on a popular municipal bond.
The U.S. Supreme Court declined on Monday to hear a bid by Bank of America (BAC) and seven other major financial institutions to prevent American cities from banding together in a $12 billion class action accusing them of artificially inflating interest rates on a popular municipal bond.
DWS, a leading European asset manager with global reach, today announced the impending closure and liquidation of two Xtrackers ETFs: Xtrackers Risk Managed USD High Yield Strategy ETF (HYRM) and Xtrackers California Municipal Bond ETF (CA). Xtrackers Risk Managed USD High Yield Strategy ETF (HYRM) is listed on NYSE. Xtrackers California Municipal Bond ETF (CA) is listed on NASDAQ.
"Ceasefire optimism augmented by a liquidity-driven risk-on macro market environment should be neutral for duration and positive for credit spreads," BofA analysts wrote.
KBRA assigns a long-term AA rating to the City of Chicago Water Revenue Bonds Project Series 2026A, Refunding Series 2026B, and Refunding Series 2026C. The Bonds are limited obligations of the City, secured by a pledge of and lien on, and payable solely from, the Net Revenues of the City's Water System. Key Credit Considerations Credit Positives. Credit Challenges.
The IRS has sent a material event notice to the Hennepin Schools Building Company regarding the tax-exempt status of revenue bonds issued in 2021based on the non-filing of IRS form 990.
Otero County said the state Supreme Court's decision protects bonds that are paid off with revenue generated under an agreement with the federal agency.
The two-week ceasefire with Iran comes to an end Wednesday, though President Donald Trump said Thursday at an event in Las Vegas the war should be ending soon.
Austin and Dallas joined Houston in being warned that millions of dollars in state grants are at risk over federal immigration enforcement interaction policies.
Pricing deals on Monday, alerting investors weeks ahead of pricing, and crafting SMA-friendly structures are some of the ways dealers are promoting their deals in a flood of supply.
News of a 10-day ceasefire between Israel and Lebanon may have reassured investors, said James Pruskowski, managing director at Hennion & Walsh, but it didn't cause munis to richen.
KBRA assigns a long-term rating of AAA to the County of Buncombe, NC General Obligation Bonds, Series 2026A, and Taxable General Obligation Bonds, Series 2026B. Key Credit Considerations The rating actions reflect the following key credit considerations: Credit Positives. Credit Challenges. Rating Sensitivities For Upgrade. For Downgrade. To access ratings and relevant documents, click here.
Market Intelligence analyst Jeff Lipton argues that state bond bank debt remains one of the muni market's most conservative, well-secured allocations ? and makes the case for expanding bond bank models to broaden infrastructure access for smaller and underserved local borrowers and for addressing growing funding needs brought about by shifting federal priorities.
The Virginia state legislature is weighing financial gains for local governments against billions of dollars in lost tax revenue and growing homeowner opposition to data centers.
RBC Capital Markets, Montague DeRose and Acacia Financial Group were new entrants into the top 10, bumping KNN Public Finance, Omnicap Group and Municipal Capital Markets Group.
abrdn National Municipal Income
Fund (VFL): * ABRDN NATIONAL MUNICIPAL INCOME FUND ANNOUNCES REMOVAL OF NON-FUNDAMENTAL INVESTMENT POLICY RESTRICTING INVESTMENTS IN HIGH-YIELD MUNICIPAL SECURITIES. * abrdn National Municipal Income
Fund (VFL) - POLICY REMOVAL EFFECTIVE JUNE 1, 2026.
PHILADELPHIA, April 15, 2026 abrdn National Municipal Income Fund announces that the Board of Trustees has approved the removal of a non-fundamental investment policy that restricted VFL from investing more than 20% of its portfolio in high-yield municipal securities.
"Some of it is related to the headlines that we're seeing right now, particularly when we think about yields and what we've seen over the last couple of days," said Tim Iltz, fixed-income credit and market analyst at HJ Sims.
Superior, Wisconsin, officials are mulling a bond-financed acquisition of the water system currently owned by private firm Superior Water, Light, and Power.
KBRA assigns a long-term rating of AAA to the Los Angeles Unified School District General Obligation Bonds, Series QRR, and 2026 General Obligation Refunding Bonds, Series A. Concurrently, KBRA affirms the long-term rating of AAA on the District's outstanding General Obligation Bonds.
The quiet in the muni market is likely due to geopolitical uncertainties, according to Cooper Howard, director of fixed income strategy at Charles Schwab.
KBRA assigns a long-term rating of AAA to the State of Oregon Department of Administrative Services Oregon State Lottery Revenue Bonds, Series 2026A and Series 2026B.
The veteran underwriter said he's excited about joining a smaller, more focused firm, where he can once again expand its competitive bidding capabilities.
Dealer inventories hit $8.8 billion in unsold variable rate bonds as of noon, Eastern, Tuesday, rising sharply over the past week, said Rick White, an independent consultant with more than 25 years in the industry.
A temporary injunction issued Monday blocks the removal of minority- and women-owned firms from the state's Historically Underutilized Businesses program.
Multiple municipal bond offerings this week have a high exposure to climate risk, specifically high Flood and Wildfire Scores, according to ICE Climate Data. A $17 million offering from Freeport, N.Y., records a Flood Risk Score of 5.0 out of 5.0, ICE reports.
Chris Brigati, managing director and CIO at SWBC, said he was "a little underwhelmed" with the market as volumes and flows were lighter than he expected.
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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