Yields have "risen substantially over the last week as the market seeks to find at least a minor level of balance or equilibrium," said Tom Kozlik, managing director and head of public policy and municipal strategy at HilltopSecurities.
California Gov. Gavin Newsom said the $202 million grant signals the Biden administration's commitment to "clean, electrified high-speed rail into the heart of some of the largest and fastest growing cities in California."
"People are just kind of sitting on their hands and being careful because MMD is raising yields every day and people don't know which way this is heading," said John Farawell of Roosevelt & Cross.
With class certification now in hand, the cities that brought the lawsuit have two weeks to outline how other municipalities will be provided notice of the chance to join.
Kevin Stitt ordered a special session to put the state on a path to zero income taxes and consider a proposal sparked by a dispute over Native American taxation.
S&P said the outlook revision reflects "our view that Pennsylvania has continued to make progress toward structural budgetary balance." Earlier this month, Moody's revised its outlook on the state to positive.
The Metropolitan Transportation Authority pledged in a legal settlement to devote nearly 15% of its capital plan to make more of its facilities accessible.
The general bias toward muni rates is that they would be a bit higher with technicals "being a little less supportive than they were in August, plus what we heard with from the Fed 'higher for longer,' and potentially another hike," said Jeff MacDonald, head of Fixed Income Strategies at Fiduciary Trust International.
The private equity firms accused the bank of concealing key changes to a credit agreement, in part because it wanted to win future muni bond business from Brightline Holdings.
Submissions must be received no later than Friday, Oct. 20 for consideration for Deal of the Year awards; for the Freda Johnson awards, the deadline is Friday, Sept. 29.
As was expected, the FOMC held rates in a range between 5.25% and 5.50%, but the dot plot in the Summary of Economic Projections showed 12 of 19 members expect another 25-basis-point rate hike this year.
The website now shows Bloomberg's yield curve with hourly updates between 9 a.m. and 4 p.m. The move changes EMMA's usual practice of displaying yield curve data from the day before.
Public finance and public trust must go hand-in-hand and that is where ESG and impact investing can play a role moving forward ? it's the data, not the label.
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.