"The rates market has started to turn from the upper end of the trading range this week," Barclays (BCS) strategists wrote, but with the war with Iran still driving the market, nothing is certain.
Nearly 21% of muni volume traded electronically in the first quarter, up from the previous quarter and surpassing the previous record set in the fourth quarter of 2023, according to a Coalition Greenwich report by Kevin McPartland and Neha Jain.
Mayor Karen Bass introduced a multi-year comprehensive plan, saying it is a first for a city that for too long had a fragmented approach to infrastructure.
Munis and U.S. Treasuries have been more reactive to geopolitical news than to economic data that traditionally moves the market, according to MMA's Kevin McGuigan.
FEMA reform has stopped and started on Capitol Hill as local governments welcome a rule requiring the agency to build a dashboard to track the flow of disaster recovery funds.
The rating agency cited an improving governance profile, which incorporates a trend of budgetary reserve fund maintenance and increasing pension contributions.
"MSRB's strategic plan was shaped by the many conversations we've had with stakeholders from across the municipal securities market," MSRB CEO Mark Kim said.
Spirit's ceasing operations after a failed $500 million bailout comes as the airport sector remains resilient despite ongoing geopolitical tensions, with spreads compressing compared to other transportation sectors despite rising fuel costs, Barclays (BCS) strategists said.
The District of Columbia Water and Sewer Authority is applying for a reimbursement from the federal government for repair costs to a broken water line that flooded the Potomac River with raw sewage.
The Michigan Strategic Fund board approved a plan to issue $150 million in private activity bonds for developer Bedrock's Detroit development projects.
McKinney, Texas, is fighting a challenge to a refunding of sales tax-backed bonds sold for a commercial airline service project at its general aviation airport.
Months after the state cracked down on cities' tardy annual financial audits, adherence to a statutory filing deadline is improving with fiscal 2025 reports.
SWBC's Chris Brigati said he doesn't expect the geopolitical tensions to cause similar losses to muni yields unless oil prices or Treasury yields move significantly higher.
The biggest-ever bond referendum in Texas was passed Saturday for Dallas schools, while voters in only one city chose to leave Dallas Area Rapid Transit.
With continued geopolitical tensions and surging oil prices, things could change on a dime, said Sweta Singh, founding partner and portfolio manager at City Different Investments.
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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