A federal judge ruled Cook County, Illinois, is liable for contitutional violations of homeowners' rights by stripping them of equity in delinquent tax sales.
The Senate voted 54-45 to confirm Kevin Warsh to lead the central bank. Warsh will take the reins from Jerome Powell, who said he will remain on the Federal Reserve Board.
Although muni valuations became "less compelling" in April from March's highs, Pat Haskell wrote for BlackRock (BLK), technical conditions "are likely to provide a degree of support in the months ahead."
"If successful in its motion, the trustee will harm not only patients, but also likely completely devalue all the bondholders' investments," Crossroads Health Management LLC said in a court filing.
As SMAs have garnered attention, they shifted demand further down the yield curve into one- to five- or one- to 10-year area, though SMAs go out 15 or 20 years.
The Bond Buyer will honor a fifth class of inductees into its Hall of Fame of municipal finance, alongside its 11th annual class of Rising Stars, at the close of its Infrastructure event in Chicago on September 15.
The collapse of Sprit Airlines spills into the South Jersey Transportation Authority as Fitch Ratings places its revenue bonds onto a negative watch status.
The constitutionality of a state law that threatens outstanding bonds issued for a detention facility is being challenged by the U.S. Department of Justice.
New findings from The Bond Buyer show that outside of advisors and broker-dealers, appetites for risk decreased to a greater degree than they increased.
The mayor's plan to balance the fiscal 2027 budget relies heavily on proposed revenue-raising moves involving the combined utility system enterprise fund.
Munis should do "relatively well" this month, as investors will "focus on heavy summer redemptions; tax-exempt supply should remain healthy but is unlikely to overwhelm," said Barclays (BCS) strategists.
Market Intelligence analyst Jeff Lipton distinguishes impairment from default in unenhanced conduit multifamily credits and explains how occupancy declines, covenant breaches and reserve draws can trigger severe price discovery long before a payment miss occurs.
"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.
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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