Municipal bond market participants say a proposed constitutional amendment targeting property tax revenue would increase borrowing costs and lead to litigation.
It was a busy week for the nation's only publicly funded high-speed train project, which named a new CEO and debuted electric Caltrain cars following the Republican bill that aims to derail the "expensive mess."
Dolton's unfunded expenditures have soared since 2021, resulting in a negative $3.65 million balance in its general fund, Lori Lightfoot told village trustees.
Muni returns so far in August are in the black, with the Bloomberg Municipal Index at 0.53% this month and 1.04% year to date. High-yield continues to outperform with returns at 0.68% in August and 5.99% in 2024.
As governor of Minnesota, Tim Walz has proposed some sweeping investments, including a $3.3 billion bonding bill that was the largest in the state's history.
In an environment characterized by dwindling enrollment, slowing revenues, and the end of COVID-19 federal aid, small private universities are struggling to remain afloat.
California and Oregon are experiencing yet another record-setting year of wildfires amid increasing uncertainty about FEMA and property insurance backstops.
While BayCare has meaningful competition, Fitch believes it will maintain or grow its market position given its investment in facilities, expansion of clinical services and continued increase in access points.
The Greater Arizona Development Authority, which has been inactive for nearly a decade, will once again offer lower cost financing for rural communities and tribal governments.
Recent events have been a "roundtrip" for rates, starting with the sentiment shifting from slowing inflation to a softening labor market, said James Pruskowski, chief investment officer at 16Rock Asset Management.
This week's new-issue calendar will be "outsized," said Anders S. Persson, Nuveen's chief investment officer for global fixed-income, and Daniel J. Close, Nuveen's head of municipals.
Tim Walz will be joining Kamala Harris on the Democratic ticket, bringing issues such as infrastructure investment, the child tax credit and his work in public schools front and center.
The Build America Bureau is poised to release awards for its asset concession program and preliminary guidelines for value-for-money analysis, two key P3 programs authorized under the IIJA.
The amendments to MSRB rule A-12 on registration would cause bank dealers to disclose associated persons, the same requirements that currently apply to non-bank dealers.
The states and others are pushing back against studies showing adverse financial effects from laws that punish banks for their fossil fuel and firearm policies.
"Decelerating or slowing economic growth has sparked a classic flight-to-quality trade with?short-term?Treasuries being the prime beneficiary," said Gary Pzegeo, head of fixed-income at CIBC Private Wealth U.S.
Data shows the average bids per competitive sale is up noticeably over the past few quarters, Justin Marlowe said, rising to 8.5 bids in Q1 2024 from 6.1 bids in Q1 2022.
All eyes now turn to the September Federal Open Market Committee meeting where the Fed is expected to cut rates, but market participants are mixed on whether it will be a 25- or 50-basis-point cut.
All eyes now turn to the September Federal Open Market Committee meeting where the Fed is expected to cut rates, but market participants are mixed on whether it will be a 25- or 50-basis-point cut.
Muni ETFs have grown in popularity ever since the first launch in 2007, gaining a foothold due to their cost-effective nature and ability to help investors acquire a significant amount of diversification.
Municipal bond mutual funds saw inflows as investors added $1.112 billion to funds after?$892.2 million of inflows the week prior, according to LSEG Lipper.
"The Fed remains data dependent as always, but it now appears that the 'more good data' bar is not as high as it was before, particularly with labor market developments becoming more important," said Michael Gregory, deputy chief economist at BMO Economics.
Riedl First Securities Company of Kansas has been fined $15,000 by FINRA for charging unfair prices, violating MSRB Rule G-30 on fair pricing and MSRB Rule G-27 on supervision.
Issuance was lumpy in July, with three weeks of $10 billion issuance sandwiched between lower issuance due to the Fourth of July holiday at the start of the month and the FOMC meeting the last week.
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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