Issuance is on pace for another year of record supply even as factors driving credit spreads change, Center for Municipal Finance Director Justin Marlowe said.
The Museum of Modern Art's "preeminent" reputation has powered the New York City institution's finances. It may have boosted its municipal bond sale last week.
The muni market is closing out the month of June with the curve "more or less static" to where it was at the end of May, Kim Olsan wrote for NewSquare Capital.
The outlook revision to stable from negative follows the city's adoption of a fiscal 2027 budget with structural changes that greatly reduced a shortfall.
Thursday was quiet in the muni market as many deals ? which did pretty well upon pricing or selling ? came to market earlier in the week, said Ron Banaszek, co-head of public finance and lead underwriter at Blaylock Van.
The agreement launches a six-month process in which the consortium will evaluate opportunities to design, build, operate, finance and maintain one or more segments of the program.
The governors of two top Midwest destinations for data centers froze tax breaks for the projects as grassroots opposition groups begin building coalitions.
The AI data center boom will test communities' power, water and infrastructure capacity, requiring public finance professionals to determine who bears the costs and how private investment can produce lasting public benefit.
There wasn't any one factor driving the muni market's weaker performance, FHN's Ajay Thomas said. But investors had a lot of deals from which to choose.
The potential timing for a water supply emergency, which had been projected for December, was pushed nine months into the future with the help of rainfall.
"It's hard to know whether a decrease in enforcement is a statistical blip or early evidence of [a] meeker, milder FINRA in the current era," said Benjamin Edwards, an associate dean at UNLV law school.
While technology has lowered entry minimums, making it more accessible to all types of investors, the client base for SMAs primarily consists of high-net-worth individuals.
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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