Mayor Lori Lightfoot, in a reelection fight, highlights first-term progress including lifting the city's bond ratings and bringing new investors to debt sales.
Miami-Dade County Mayor Daniella Levine Cava unveiled plans to create an authority to fund innovation while Miami City Mayor Francis Suarez focused on the environment and housing affordability.
On the buy side, lower interest rates and an extreme imbalance between supply and demand is supporting the municipal market's positive tone, according to JB Golden, executive director and portfolio manager at Advisors Asset Management.
UBS' move this week to cut some banking positions marked a reversal of its five-year growth trend as the bank rebooted its municipal underwriting business.
Raising money by participating in carbon credit markets and carbon sequestration schemes would ease Alaska's revenue dependence on oil, Gov. Mike Dunleavy said.
York County priced a $24.6 million deal to help recoup costs of the purchase of a private water utility that wasn't "up to par," according to county officials.
Inflows continued with the Investment Company Institute reporting investors added $2.083 billion to mutual funds in the week ending Jan. 18, after $1.982 billion of inflows the previous week.
By an almost four-to-one margin, voters approved a charter amendment requiring voter approval to transfer ownership of the county's airport, seaport or tollway.
The 2023 "January effect" seems to be "displaying typical behavior given relatively thin issuance this month and demand patterns that have been buoyed by four of six reinvestment needs," said Jeff Lipton, managing director of credit research at Oppenheimer Inc.
The city received $217 million of retail orders ? a rarity in Illinois where local bonds don't benefit from state tax exemption ? and interest from 11 ESG funds.
The latest definition of federal waters includes roadside ditches, which some industry groups say will make transportation projects more costly and time-consuming.
For the first time in several weeks, munis last week outperformed "by a wide margin and across the entirety of the yield curve," said Eric Kazatsky, head of municipal strategy at Bloomberg Intelligence.
School districts must sell bonds based on their own ratings or with private insurance because the triple-A-rated Permanent School Fund's capacity is nearly maxed out.
Legacy Cares, which built Bell Bank Park in Mesa, was due to make a $10.3 million interest payment Jan. 1, but only had $2.68 million in the bond fund, the trustee said.
The company transferred its second party opinion business and analytical staff to Moody's Investors Service (MCO) from Moody's ESG Solutions in October.
Moody's lowered Fairview Health Services by one notch to Baa1 and assigned a negative outlook, but a pending merger and expected sale of some facilities could help its bottom line.
The primary "pumped new life into an already-firm market with a lower yield range being established," said Kim Olsan, senior vice president of municipal bond trading at FHN Financial.
Transportation sectors from airports to toll roads are expected to remain stable despite a likely recession and high inflation and interest rates, ratings analysts said.
The Texas attorney general's office determined a Citigroup (C/PN) commercial firearms policy does not comply with a 2021 state law prohibiting state and local government contracts with companies that discriminate against the firearms industry.
Toks Omishakin's second year as State Transportation Agency secretary is off to a challenging start between massive rainfalls and proposed budget cuts.
Inflows returned, with the Investment Company Institute reporting investors added $1.982 billion to mutual funds in the week ending Jan. 11, after $3.157 billion of outflows the previous week.
While the legislation heading to Gov. J.B. Pritzker's desk will not affect CPS' rating in the short-term, the district's ability to manage labor conflict could affect credit quality over time, Fitch said.
The MSRB's quarterly meeting, set to take place Jan. 25-26, will also include discussion of EMMA modernization efforts and the impacts of the Financial Data Transparency Act.
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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