The Federal Reserve will be more cautious and slow rate cuts going forward, according to minutes of the December Federal Open Market Committee meeting, released Wednesday.
Congressional observers are casting a skeptical eye about the productivity of the new 119th Congress that is already defined by ideological differences separating factions within the majority party.
The Texas Attorney General will end reviews of Bank of America (BAC), Morgan Stanley (MS) and JP Morgan after the banks recently left the Net-Zero Banking Alliance.
"Further Treasury rate volatility or distractions from more favorable alternatives could at the very least moderate money invested into the municipal bond market," DWS strategists said. However, "these dynamics could create periods of opportunity to buy tax-exempt bonds at attractive yields in 2025."
The bank, which has been under review by the Texas attorney general over its involvement in the Net-Zero Banking Alliance, said it is leaving the group.
NEW YORK, Jan. 7, 2025 ?S&P Global Market Intelligence, a provider of information services and solutions to global markets, today announced the addition of 4.6 million municipal securities on the flagship S&P Capital IQ Pro platform. The expanded coverage of municipal securities includes liquidity scores, end-of-day pricing, analytics and enhanced terms and conditions data, such as bond schedules.
Eaton Vance Municipal Bond Fund (EIM) announced today the extension of the Fund?s cash tender offer for up to 5% of its outstanding common shares at a price per share equal to 98% of its net asset value per share, determined as of the close of regular trading on the New York Stock Exchange on the day the Tender Offer expires.
Large bond sales are expected this year for airports undergoing major expansion projects in Denver, Dallas, Houston, and Austin amid rising passenger traffic.
Gilmore & Bell, P.C., a leading public finance law firm, is pleased to announce that Laura Connor and Megan Miller have been named shareholders in the Kansas City office. Ms. Connor practices in the field of real estate law, including real estate finance, leasing and construction. Ms. Miller serves as bond counsel to cities, counties, school districts and other municipal borrowers.
"These opportunities will surface periodically throughout the year against heavy supply and the increasingly uncertain path for the Fed, evolving fiscal policy, and volatile Treasury market backdrop," said J.P. Morgan strategists.
KBRA assigns a long-term rating of AA+ to the Department of Water and Power of the City of Los Angeles Water System Revenue Bonds, and affirms the AA+ rating on outstanding parity Water System Revenue Bonds. Key Credit Considerations The rating was assigned because of the following key credit considerations: Credit Positives. Credit Challenges. Rating Sensitivities For Upgrade. For Downgrade.
In his letter of resignation, Federal Reserve Vice Chair for Supervision Michael Barr said an attempt by the Trump White House to remove him could create a "distraction" for the Fed. He plans to retain his seat on the Board of Governors, which expires in 2032.
Record 4Q24 Total Trading ADV, Up 38% With Record Municipal Bond ADV and Record Total Rates ADV MarketAxess Holdings Inc. (MKTX), the operator of a leading electronic trading platform for fixed-income securities, today announced trading volume and preliminary variable transaction fees per million for December 2024 and the fourth quarter ended December 31, 2024.1 Chris Concannon, CEO of MarketAxess (MKTX), co...
BNY Mellon Municipal Bond Infrastructure Fund, Inc. (DMB) today announced a distribution of $0.0300 per share of common stock, payable on February 3, 2025 to shareholders of record at the close of business on January 21, 2025. The Fund intends to make regular monthly distributions to its common shareholders at a level rate based on its projected performance.
The CFO's revenue estimate reveals a $169 million temporary boost and overall population growth while concerns arise over proposed cuts to the federal workforce.
BofA and Morgan Stanley (MS) left the Net-Zero Banking Alliance, but there was no word from the Texas attorney general on their status as bond underwriters in the state.
Nebraska's State Highway Commission on Dec. 6 unanimously authorized the issuance of bonds ? a state first ? to finance the completion of a highway corridor.
BRIDGE Housing Corp. is the first to publicly offer tax-exempt bonds to finance construction of a new development, a 224-unit project in Portland, Oregon.
The following Eaton Vance closed-end funds announced distributions today as detailed below. Municipal Bond Funds: Taxable Funds: Declaration ? 1/2/2025. Municipal Bond Funds: Taxable Funds: Funds Making Distributions Under a Managed Distribution Plan*: * These Funds make distributions in accordance with a managed distribution plan.
Investors pulled more from municipal bond mutual funds in the final reporting week of 2024, but high-yield reverted to inflows to close out the year, adding to the sector's outperformance overall.
NYLI MacKay DefinedTerm Muni Opportunities Fund (MMD) today announced its monthly dividend distribution of $0.06 per common share for the month of January 2025. Portfolio and municipal market commentary will be published on or around January 2, 2025 and can be retrieved here.
While municipals have outperformed USTs on the whole in 2024, they will close December with losses. How taxables perform in early 2025 coupled with macroeconomic and Washington policy uncertainty have municipal market participants on edge for what lies ahead.
The muni market saw $507.585 billion of debt issued in 2024, up 31.8% from $385.061 in 2023. This surpasses the previous record of $484.601 billion in 2020 by more than $20 billion, per LSEG data.
Cuyahoga County and Cleveland will each pay $20 million to fund capital repairs at the venues that host Cleveland Cavaliers basketball and Guardians baseball.
Prolific debt issuance by Texas school districts, state issuers, and others drove muni volume to a state record in 2024, easily surpassing 2023's $59 billion.
BNY Mellon Investment Adviser, Inc. announced today that BNY Mellon Municipal Income, Inc. (DMF), BNY Mellon Strategic Municipal Bond Fund, Inc. (DSM) and BNY Mellon Strategic Municipals, Inc. (LEO) have declared a monthly distribution for each Fund's common shares as summarized below. Important Information BNY Mellon Investment Adviser, Inc., the investment adviser for each Fund, is part of BNY Investments.
Both IG and HY indices will likely end this year richer versus USTs and their benchmarks, "leaving very little cushion to absorb rate volatility," said Barclays (JJCTF) strategist Mikhail Foux.
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.