"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.
In a release issued earlier today by Payden & Rygel, please note we have corrected the proper name of the Payden & Rygel municipal bond team in the headline, as well as the first and second?paragraphs. Default ahead for California?
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.
Multiple municipal bond offerings this week have a high exposure to climate risk, specifically high Wildfire and Flood Scores, according to ICE Climate Data. A $35 million offering from Fillmore Unified School District, Calif., records a Wildfire Score of 4.7 out of 5.0, ICE reports.
This week the market has performed "exceedingly well" with the tailwind of June 1 reinvestment capital, said J.P. Morgan strategists led by Peter DeGroot.
The hard-fought increase to the cap on state and local tax deductions that was instrumental to passing the House GOP tax bill is under fire in the Senate.
Ahead of a 14-3 vote to pass the $7 billion spending plan, concerns were raised about new legislation affecting the city's public safety pension funds.
The Metropolitan Washington Airports Authority is pricing $714.4 million worth of airport system revenue and refunding bonds on Thursday as part of a scheduled sale with an uncertain demand.
City comptroller Brad Lander says there's no legal mechanism to issue bitcoin bonds, whatever Mayor Eric Adams may have told a cryptocurrency conference.
City comptroller Brad Lander says there's no legal mechanism to issue bitcoin bonds, whatever Mayor Eric Adams may have told a cryptocurrency conference.
The St. Louis tornadoes came after the National Oceanic and Atmospheric Administration mothballed its tracker of billion-dollar weather and climate disasters.
"We're going to get a lot of price discovery with the big deals, a large number of deals, and then a lot of cash to put to work," said Whitney Fitts of Appleton Partners.
The American Association of Port Authorities is pushing back at the Trump administration's One Big Beautiful Bill Act over plans to curtail two key grant programs vital to the maritime sector.
The SEC charged two entities with violating federal securities laws by advising clients on municipal bonds without properly registering as municipal advisors.
Issuance this week soars to nearly $17 billion, and investors are "bracing for another hefty serving the following week," said Birch Creek strategists.
"It is FINRA's position that, for multiple reasons discussed in its brief opposing Alpine's petition for writ of certiorari, the case did not meet the Supreme Court's standards for review," FINRA said.
Multiple municipal bond offerings this week have a high exposure to climate risk, specifically high Flood and Wildfire Scores, according to ICE Climate Data. An $11 million offering from Scituate, Mass., records a Flood Score of 4.7 out of 5.0, ICE reports.
The Indiana Financing Authority is the biggest entry on 2025's largest negotiated calendar with $1.5 billion of Indiana University Health system revenue bonds.
The Senate returns to Washington with a ticking deadline clock to turn the House's One Big Beautiful Bill Act into law with questions remaining about the future of the SALT cap deduction and green energy tax credits.
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.
Log In Required
Publication Date