WEST READING, Pa., Sept. 16, 2024 ?Tower Health today announced the results of its offer to exchange all or any portion of certain outstanding debt securities issued by or on behalf of Tower Health described in the table below for a specified amount of new bonds to be issued by The Berks County Municipal Authority, as identified in the table below.
Despite the underperformance to USTs, munis saw positive momentum during the first two weeks of September with the asset class returning 0.68% so far this month and 1.99% year-to-date.
While supply falls next week as investors await their first Fed rate cut in four years, it should pick up after the FOMC, Barclays PLC said, adding the 30-day visible pipeline "is at relatively manageable levels at the moment." Bond Buyer 30-day visible supply is at $10.09 billion.
Household ownership of individual bonds was the largest category of muni ownership at 44.6%, mutual funds at 19.2%, exchange-traded funds at 3.1% and U.S. banks at 12.4%. While not detailed in the Federal Reserve data, SMAs may hold up to $1.6 trillion currently.
President Joe Biden's so-called billionaire tax supported by Vice President Kamala Harris, which would tax unrealized gains from assets including bonds, would raise $500 billion over 10 years, according to Sen. Elizabeth Warren, D-Mass.
The Indiana Budget Committee has approved $50 million in funding for bond financing that would bring water from an Indianapolis utility to the city of Lebanon.
California's state government typically pushes out billions of dollars of debt from August to November. This year there may be a shift in buy side sentiment.
Over a long, successful career, former New York City Director of Management and Budget Mark Page has shaped more than his share of public finance innovations.?
Municipal bond mutual funds saw inflows as investors added $1.258 billion to funds ? the second-largest inflow figure year-to-date after $1.413 billion of inflows for the week ending Jan. 31.
The agencies are overstepping their statutory authority in trying to force the market to adopt a new securities identifier, says the American Bankers Association.
A report by the Securities Industry and Financial Markets Association shows that the move to a T+1 settlement cycle has struck the right balance between increasing efficiencies and mitigating risk.
Clean Power Alliance, California?s largest Community Choice Aggregator serving more than three million residents and businesses throughout Los Angeles and Ventura counties, has issued its third municipal non-recourse Clean Energy Project Revenue Bond through the California Community Choice Financing Authority.
The New York region's beleaguered transportation agency could need up to $92 billion for its next capital plan, said State Comptroller Thomas DiNapoli.?
The August consumer price index showed inflation remains above the Federal Reserve's target level and makes a 50-basis-point?rate cut next week?unlikely, economists said. Further, many expect the market will be disappointed going forward, as future cuts will likely be shallower than expected.
The candidates touched on muni-adjacent issues like energy policy, housing and tariffs but offered little new information on infrastructure proposals or tax policies.
Issuance as of Wednesday is at $345.327 billion, a 32.7% increase over 2023. The Bond Buyer 30-day visible calendar on Monday was at $20.02 billion, the largest in nearly four years.
When Ohio's Community Memorial Hospital shuttered on Aug. 31, it became the latest small-town Midwest hospital to hit insurmountable financial troubles.
Municipals lagged the UST moves again, cheapening ratios and creating a valuable entry point for investors looking for compelling taxable equivalent yields, particularly 10-years and out.
Fitch also upgraded the city's Georgia Municipal Association certificates of participation (city of Atlanta public safety projects) to AA-plus from AA.
"Investment banking has a variety of?personalities working in it, depending on where you are," Rice said. "The M&A business, the trading business, private equity ? all of those things fall into investment banking ? but public finance is the one area where?you're doing things that help provide?for?the public good."?
Actively managed fund combines three sources of potential return: muni bond coupons, active muni bond trading & option-writing income Simplify Asset Management, an innovative provider of Exchange Traded Funds, is today adding a distinct actively managed municipal bond ETF to its growing lineup of income-focused strategies with the launch of the Simplify National Muni Bond ETF.
Stagnant per-pupil state funding amid rising costs led to budget deficits, lower reserves, and ballot proposals to raise property tax rates for some districts.
The group, which has grown to more than 100 individuals since its inception in 2019, will host an event featuring Connecticut Treasurer, Erick Russell.
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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