The California High Speed Rail Authority said state funds and a potential public-private partnership would be able to cover the initial Central Valley segment.
The wait for finished audits dropped across municipal sectors from 2022 to 2023, a new report says, but the median time is still higher in the long run.
The tribal movement toward energy independence through renewable-powered microgrid projects has been slowed, if not stalled, by shifting political winds.
BlackRock (BLK) strategists are "constructive" on munis for multiple reasons and think the current market environment presents itself as a buying opportunity, especially as issuance continues to be elevated and provides "ample ability" to source bonds in the primary market.
As Congress grinds through the budget reconciliation, fixed income market experts are eyeballing an uncontrolled national debt while dreading a heavy-handed response from the Treasury bond market.
The U.S. Virgin Islands WAPA said the Public Service Commission's reduction of electric rates jeopardizes its ability to pay bills and provide electric service.
A "lighter-than-anticipated CPI report" led to UST firmness, as it "quelled fears about tariff-related inflation and boosted enthusiasm that the Fed will cut rates in the next two or three meetings," said Jos? Torres, senior economist at Interactive Brokers.
In a Monday special session that went late into the night, the state legislature passed a $66 billion budget that includes a $700 million bonding bill.
"The broader themes from the demand perspective are that it's choppy and people are not necessarily jumping into high-yield munis with both feet," said First Eagle's John Miller.
The state of Maryland is going to market on Wednesday by selling $1.56 billion of general obligation bonds, which will be the first major sale since the state absorbed a credit downgrade from Moody's.
However, the new-issue calendar may not be "absorbed as easily, given valuations have grown less compelling after this week's performance," said Birch Creek strategists.
The MSRB's decision to rescind the one-minute trade reporting deadline "comes after months of dialogue and engagement with market participants," MSRB President and CEO Mark Kim said.
Chicago is facing myriad headwinds. But its GO bond sale last week was oversubscribed and city officials said that allowed them to lower yields in repricing.
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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