Trading was muted after last week’s bounty of bond sales, as the market looked ahead to this week’s larger deals, including a $920 million Illinois financing.
A typical quiet summer Monday unfolded, with trading activity muted as the market reflected on last week’s bountiful volume and looked ahead with anticipation to some this week’s larger deals, including the $920 million Illinois financing, muni traders said.
As director of the Fed's Division of Research and Statistics, David Wilcox is responsible for briefing the Federal Open Market Committee on the outlook for the national economy.
Issuance in these sectors all plummeted by 50% or more in the first half of 2018 in what was generally a weak first half for overall municipal issuance.
Municipal bond volume is running 18.1% lower than last year’s historic level, in line with analyst expectations given the enormous impact the new tax legislation has had on the market.
Northeast municipal bond issuance sank 11.7% in the first half of 2018 compared to a year earlier, reflecting a national trend driven by federal tax changes.
A hurdle has been passed for a judge to issue a ruling on the federal government's responsibility for making investors whole on impaired Puerto Rico bonds.
In the week ended August 16, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index dipped to 4.02% from 4.03% the previous week. The BB40 Index is based on the price of 40 long-term bonds.
Gregory Gizzi,senior vice president and portfolio manager atMacquarie Investment Management, looks at the effects of tax reform on municipal bond market this year. He also discusses what investors should look for in the second half of the year. Chip Barnett hosts.
New York service sector activity “expanded at a solid clip” In August, according to the Federal Reserve Bank of New York's Business Leaders Survey, released Thursday.
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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