News Results

  1. Munis improve ahead of holiday; issuance grows to $7B
    SourceMedia Bond Buyer | 11/22/23 03:35 PM EST

    "The market has had a solid tone to it recently even with the strong rally seen this month," Roberto Roffo, managing director and portfolio manager at SWBC Investment Management, said of the Nov. 10 rally where municipal yields in 10 years fell by as much as 40 basis points.

  2. At least a partial win for bondholders in Chester, Pennsylvania, Chapter 9
    SourceMedia Bond Buyer | 11/22/23 02:19 PM EST

    The bankrupt city challenged pledged revenues for 2017 bonds, but the bankruptcy court said the lien was secured, at least until the Chapter 9 was filed.

  3. Lawsuit aims to block Oklahoma law targeting fossil fuel 'boycotters'
    SourceMedia Bond Buyer | 11/22/23 12:52 PM EST

    Litigation brought by a state public pension recipient challenges the constitutionality of a 2022 law prohibiting governmental contracts with companies the Oklahoma treasurer determines are "boycotting" energy businesses.

  4. Former Sterlington, Louisiana, mayor agrees to pay $35,000 fine
    SourceMedia Bond Buyer | 11/22/23 12:38 PM EST

    Vern Breland has agreed to pay a $35,000 fine and is permanently barred from participating in future municipal securities offerings.

  5. Citi's muni division appears to be unscathed in latest rounds of cuts
    SourceMedia Bond Buyer | 11/22/23 10:54 AM EST

    There had been speculation of layoffs in Citi's municipal division as several high-profile employees had been departing the firm over the last year, but sources said they have not heard of any muni layoffs.

  6. Wisconsin issues RFQ to fill bond underwriting ranks
    SourceMedia Bond Buyer | 11/22/23 10:41 AM EST

    Final responses are due by Dec. 8 from muni underwriters who want to be on Wisconsin sale syndicates.

  7. Another strong session for munis; FOMC minutes signal caution
    SourceMedia Bond Buyer | 11/21/23 04:08 PM EST

    The large drop in yields since the end of October can be reflected in sentiment that investors expect a potentially dovish Fed next year, and that a soft landing narrative gives them "permission to finally purchase the bonds they've been admiring," said MMA's Matt Fabian.

  8. Current market conditions are prime for tax loss harvesting
    SourceMedia Bond Buyer | 11/21/23 03:33 PM EST

    This year has seen an increase in and an earlier start to tax loss harvesting amid rapidly rising interest rates and stronger equity market performance.

  9. Bond-friendly MAMBA legislation in play
    SourceMedia Bond Buyer | 11/21/23 02:31 PM EST

    Passing a new farm bill offers the best chance for movement.

  10. Deadline extended for bond purchase agreement changes in Texas
    SourceMedia Bond Buyer | 11/21/23 01:48 PM EST

    Municipal bond underwriters for Texas deals now have until Dec. 16 to comply with changes to the agreements and to their standing letters of compliance with two state laws banning contracts with companies that "boycott" or "discriminate" against the fossil fuel or firearm industries.

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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