Credit ratings giant S&P Global has said it is reviewing all its macro economic forecasts in the wake of Donald Trump's sweeping world trade tariffs this week, a move likely to fuel concerns of a renewed wave of credit score downgrades.
* Revised forecasts due next week, inflation jump seen. * Impact on US GDP will depend on retaliation, S&P says. * Cut to forecasts feeds rating downgrade expectations. By Marc Jones.
WisdomTree, an international asset manager, has grown its portfolio with the introduction of two new municipal bond ETFs: the WisdomTree Core Laddered Municipal Fund and the WisdomTree High Income Laddered Municipal Fund. These funds are designed to offer investors tax-efficient income and diversification advantages.
KBRA assigns a long-term rating of AAA to the Los Angeles Unified School District: Election of 2024, General Obligation Bonds, US Series A; Election of 2024, General Obligation Bonds, US Series B Federally Taxable; and, 2025 General Obligation Refunding Bonds, Series A. KBRA additionally affirms the long-term rating of AAA for the District's outstanding General Obligation Bonds.
"With the initial announcement proving to be more aggressive than expected, the market responded overwhelmingly negatively, with stock futures trading lower and the U.S. dollar weakening further," said Seema Shah, chief global strategist at Principal Asset Management. "U.S. Treasuries have rallied ? as the market tries to digest the conflicting growth and inflation impacts."
As the market absorbs the effects of the tariff rollout industry analysts are predicting a heavy dose of uncertainty in several key sectors of the municipal bond market.
At noon Thursday, muni yields had been bumped up to 12 basis points, depending on the curve, while UST yields rallied, with yields falling 13 basis points on the short-end.
Alpine School District, which will be split into three systems, wants to sell up to $238 million of lease revenue bonds to finance school construction.
New offering builds on the S&P Global Market Intelligence Parity Platform to deliver enhanced insights and pre-sale investor outreach capabilities to municipal finance teams. BondLink, the leading cloud-based investor relations and debt management platform for the municipal bond market, is excited to announce the launch of Parity Plus in collaboration with S&P Global Market Intelligence.
The law cuts the individual income tax rate to 3% by calendar year 2030, with triggers that may drive future annual decreases until it ultimately falls to zero.
WTMU and WTMY utilize a time-tested bond investment strategy to leverage the diverse opportunities in the municipal bond market WisdomTree, Inc. (WT), a global financial innovator, today announced the launch of the WisdomTree Core Laddered Municipal Fund and WisdomTree High Income Laddered Municipal Fund on the Nasdaq, with expense ratios of 0.25% and 0.35%, respectively.
Details surrounding the tariffs ? which could be anything from reciprocal tariffs to finally implementing delayed tariffs on Canada and Mexico and on pharmaceuticals ? have remained unclear, but uncertainty has plagued the market for weeks.
BNY Mellon Municipal Bond Infrastructure Fund, Inc. (DMB) today announced a distribution of $0.0300 per share of common stock, payable on May 1, 2025 to shareholders of record at the close of business on April 16, 2025. The Fund intends to make regular monthly distributions to its common shareholders at a level rate based on its projected performance.
Fallout from the Legacy Cares deal includes bondholder lawsuits against the underwriter and bond counsel, payment defaults, a Chapter 11 bankruptcy, and now fraud charges from the SEC and DOJ.
KBRA assigns a long-term rating of AA+ to the State of Connecticut: General Obligation Bonds; General Obligation Refunding Bonds; and, Taxable General Obligation Bonds. Key Credit Considerations The rating actions reflect the following key credit considerations: Credit Positives. Credit Challenges. Rating Sensitivities For Upgrade. For Downgrade.
A bill exempting local governments from a law prohibiting contracts with firms that "boycott" fossil fuels met a key milestone as did a pro-gun blacklist bill.
As Chicago transit agencies and Illinois lawmakers near a deadline to fix a transit budget shortfall of about $770 million, some are calling for a services tax.
Lawmakers have proposed record high spending but left key needs unfunded, the Citizens Budget Commission warns as the state misses its April 1 deadline.
KBRA assigns a long-term rating of A+ with a Stable Outlook to the Allegheny County Airport Authority, PA Airport Revenue Bonds, Series 2025A and Airport Revenue Bonds, Series 2025B, and affirms the A+ rating and Stable Outlook on outstanding Airport Revenue Bonds. Key Credit Considerations The rating was assigned because of the following key credit considerations: Credit Positives.
The SEC and DOJ announced charges in connection with municipal bonds issued for the Legacy Cares sports complex in Arizona, which defaulted and went bankrupt.
A father-and-son team has been indicted in Manhattan on charges they defrauded investors in a failed Arizona sports complex, causing more than $200 million in losses for Vanguard Group, AllianceBernstein and other municipal bond investors.
The following Eaton Vance closed-end funds announced distributions today as detailed below. ?. Municipal Bond Funds: Fund Ticker Distribution Change From Prior Distribution Closing Market Price ? 3/31/25 Distribution Rate at Market Price Eaton Vance California Municipal Bond Fund. EVM. $0.0417. - $9.27. 5.40% Eaton Vance Municipal Bond Fund. EIM.
A father-and-son team has been indicted in Manhattan on charges they defrauded investors in a failed Arizona sports complex, causing more than $200 million in losses for Vanguard Group, AllianceBernstein and other municipal bond investors.
The Governmental Accounting Standards Board is seeking input from the public about its preliminary views on clarifying changes to disclosure regulations related to state and local governments under severe financial stress and facing probable dissolution.
NYLI MacKay DefinedTerm Muni Opportunities Fund (MMD) today announced its monthly dividend distribution of $0.06 per common share for the month of April 2025. Portfolio and municipal market commentary will be published on or around April 1, 2025 and can be retrieved here.
KBRA assigns a long-term rating of AA+ to the City of Pflugerville, TX Combination Tax and Limited Revenue Certificates of Obligation, Series 2025 and Limited Tax Bonds, Series 2025. Key Credit Considerations The rating actions reflect the following key credit considerations: Credit Positives. Credit Challenges. Rating Sensitivities For Upgrade. For Downgrade.
The asset class extended its selloff last week as concerns regarding the tax-exempt status of munis continued to mount, combined with a heavy new-issue calendar and tax season selling by investors, said Jason Wong, vice president of municipals at AmeriVet Securities.
Closing is scheduled for White Lake Township, Michigan's second try at a GO bond sale after the first was interrupted by the cybertheft of bond proceeds.
Foothill Gold Line Construction Authority had to rethink the final leg of a 60.2-mile light rail line when the contractor's final bid came in 50% higher than its estimated project costs.
"It seems like hitting last year's volumes should be within the strike zone for the marketplace," said Kyle Javes, a managing director and head of municipal fixed income at Piper Sandler.
BlackRock Advisors, LLC announced today the launch of BlackRock Municipal Credit Alpha Portfolio, Inc., expanding its suite of interval funds providing alternative investment solutions for retail wealth clients. The Fund seeks to provide attractive after-tax total return, through income and capital appreciation, by investing in municipal securities.
Higher borrowing costs without the tax exemption could force public water, sewer and power providers to raise rates, neglect infrastructure, or sell systems.
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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