The executive director of the Puerto Rico Oversight Board suggested non-settling bondholders might be offered recoveries of about 4% of the principal due.
BlackRock has broadened its suite of municipal bond ETFs by transforming its BlackRock High Yield Municipal Fund into an ETF. The conversion comes at a time when municipal bond ETFs are seeing quite the demand. Also Read: Will DeepSeek Create Deep Cuts In Mortgage Rates?
Farmers and Merchants Bancshares, Inc., the parent company of Farmers and Merchants Bank (FMFG), announced that net income for the year ended December 31, 2024 was $4,277,703, or $1.37 per common share, compared to $6,418,337, or $2.08 per common share, for the same period in 2023.
Hilltop and other firms say more recent SEC off-channel communications settlements eliminated "costly and burdensome" requirements that were imposed on them.
"Our job is to take that volatility, figure out what's noise, figure out what's reality, and lean into the opportunities as we see them," said Alex Petrone, director of fixed income at Rockefeller Asset Management.
Huntington has hired Dan Kelly as head of municipal underwriting. The industry veteran will bolster the bank's strategy of pursuing larger transactions.
Marks completion of the conversion of the BlackRock High Yield Municipal Fund into the iShares High Yield Muni Active ETF Today, BlackRock (BLK) announced the conversion of the BlackRock High Yield Municipal Fund into an active ETF, creating the iShares? High Yield Muni Active ETF.
KBRA assigns a long-term rating of AA to the State of Louisiana General Obligation Refunding Bonds, Series 2025-A and affirms the long-term rating of AA for the State's outstanding General Obligation Bonds. Key Credit Considerations The rating actions reflect the following key credit considerations: Credit Positives. Credit Challenges. Rating Sensitivities For Upgrade. For Downgrade.
Yields have fallen over the past few weeks, so "any decent excuse that rates move up a little bit after that big rally" may have occurred as the market digested the report ? which was a "little bit of a mixed bag" ? after the initial headline figure, said Jeff MacDonald, EVP and head of fixed income at Fiduciary Trust International.
KBRA assigns a long-term rating of AA-, with a Positive Outlook to the Miami-Dade County Aviation Revenue Bonds, Series 2025A, Series 2025B and Series 2025C. The Positive Outlook reflects Miami International Airport?s improving financial profile, underpinned by continuing, very strong growth in domestic and international passenger traffic.
A state board moved toward instituting salary-based employee premium health insurance payment system as a way to avoid a looming $1.3 billion deficit in the government's health plan budget.
MarketAxess Holdings (MKTX) has been analyzed by 8 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish. The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
Both houses of the Virginia state government have advanced budget bills that include rebates to taxpayers from surpluses fattened by federal funding and robust tax collections, a trend that concerns policy experts.
KBRA assigns a AAA rating, with a Stable Outlook to the State of Wisconsin's General Obligation Refunding Bonds of 2025, Series 3 and G.O. Refunding Bonds of 2026, Series 1. Proceeds of 2025, Series 3 will be used by the State to purchase certain outstanding G.O. bond maturities tendered by invited bondholders under a January 24th Invitation to Offer to Tender Bonds.
Investors added $1.124 billion to municipal bond mutual funds in the week ending Wednesday, following?$741.6 million of inflows the prior week, according to LSEG Lipper data.
Private Municipal Bond Placement to Recapitalize University's Debt and Fund Nursing Program Improvements NEW YORK, Feb. 6, 2025 /PRNewswire/ -- Fundamental Advisors, an established alternative asset manager focused on municipal, public purpose and community assets, in partnership with its municipal bond sourcing partner, V2 Municipal Capital, today announced the completion of a $33,750,000 fina...
Walrath will support BAM's underwriting and credit departments in executing every credit BAM insures and advise the bond insurer on other legal matters.
The short-lived federal funding freeze from President Donald Trump and jeopardy of tax-exempt status are just the latest issues plaguing the muni bond industry.
RAPID CITY, S.D., Feb. 05, 2025 -- Black Hills Corp. (BKH) today announced financial results for the fourth quarter and full year ending Dec. 31, 2024. Earnings of $3.91 per share for 2024 benefited from $0.82 per share of new rates, rider recovery, and customer growth.
Muni yields were bumped one to eight basis points, depending on the scale, while UST yields fell three to 10 basis points, with the greatest gains out long.
A recent Texas Supreme Court decision will force the city to increase the amount of property tax revenue allocated to a dedicated drainage and street fund.
Connecticut's governor proposed a new public finance tool as part of a broad plan to improve the state's resiliency against extreme weather and climate change.
As Chicago Public Schools tries to get its fiscal house in order, it faces management turmoil, risks to federal funding and threatened immigration raids.
BNY Mellon Municipal Bond Infrastructure Fund, Inc. (DMB) today announced a distribution of $0.0300 per share of common stock, payable on March 3, 2025 to shareholders of record at the close of business on February 19, 2025. The Fund intends to make regular monthly distributions to its common shareholders at a level rate based on its projected performance.
Tax exemption concerns ? though an elimination is unlikely ? and the loss of federal stimulus will "most assuredly pull forward delayed issuance, with the first half of 2025 volume to exceed second half volume," said James Welch, a municipal portfolio manager at Principal Asset Management.
S&P Global Ratings revised the outlook on Southern California Edison and its parent company citing the potential depletion of the state's bond wildfire fund.
Comstock Inc. (LODE) today announced that its subsidiary, Comstock Fuels Corporation, was approved by the Oklahoma State Treasurer?s Office to issue up to $152 million in qualified private activity bonds.
?. Certain BlackRock closed-end funds announced distributions today as detailed below. Municipal Funds: Declaration- 2/3/2025 Ex-Date- 2/14/2025 Record- 2/14/2025 Payable- 2/26/2025. Notes: MUI?s distribution payable to shareholders will be paid in cash. Declaration- 2/3/2025 Ex-Date- 2/14/2025 Record- 2/14/2025 Payable- 3/3/2025.
To close out the day, USTs remained mixed, with yields rising on the short end and falling out long, while munis were changed up to a basis point, depending on the curve.
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.