Munis held "their firmer tone as Treasuries continued to rally once more this past week," said Jason Wong, vice president of municipals at AmeriVet Securities.
The proposal would prevent the sale of asset -backed securities tainted by any material conflict of interest and commenters feel that munis should be excluded from the final rule.
Public finance veterans Marvin Markus and Mark Liff join Siebert as managing directors to focus on expanding the firm's infrastructure and higher education practices.
Yields on top-rated municipal bonds fell as much as nine basis points on Friday as bank contagion fears resurfaced and investors looked to safe-haven securities. The primary calendar is rebounding, with volume rising to an estimated $5.4 billion in the week ahead.
The rating action affects $423 million in bonds and certificates of participation. The territory's issuer rating was affirmed at speculative-grade Ba1.
Outflows continued as Refinitiv Lipper reported $427.082 million was pulled from municipal bond mutual funds in the week that ended Wednesday after $461.123 million of outflows the week prior.
Flint will receive state pension funding help but plans to press for more pension and local government revenue aid to preserve its struggling tax base as it recovers from the 2014 water contamination crisis.
Big national banks would be banned from state and local government contracts in Oklahoma if their policies "discriminate" against the firearm industry.
But the Securities and Exchange Commission's best-execution proposal, largely dismissed as duplicating an existing Financial Industry Regulatory Authority edict, could have wide-ranging implications for trading firms in options, bonds, and crypto securities as well as equities.
The Kaiser Family Foundation's report drew the ire of the American Hospital Association, which said it excluded many community benefits from its analysis.
The state plans to enter the market before the fiscal year closes June 30th with eyes turned to Fitch and whether it will follow Moody's and S&P with an upgrade.
Chicago Mayor Lori Lightfoot and council members passed resolutions honoring Msall for guiding local finances over two decades as Chicago Civic Federation president.
The Securities and Exchange has updated its frequently asked questions page for the registration of municipal advisors, providing guidance on Form MA, Form MA-I and Form MA-NR
Members of the Fed learned the wrong lesson from bizarrely focusing on the 1970s when they said "If history has taught us anything, it's to not let up too soon on inflation."
"Florida will not side with economic central planners; we will not adopt policies that threaten personal economic freedom and security," said Gov. Ron DeSantis.
The MTA, which expected to begin collecting the tax next year, has revised downward its 2024 projections as federal review is taking longer than expected.
The Hall of Fame initiative celebrates individuals whose careers have left an indelible mark, while the Rising Stars program recognizes the muni finance leaders of tomorrow. Nominations close May 5, 2023.
The reverberations from the Silicon Valley Bank and Signature Bank (SGBG) failures make the outcome of this week's Federal Open Market Committee meeting unpredictable.
The collapse of Silicon Valley Bank and Signature Bank (SGBG) clouds the economic landscape and complicates monetary policy decisions but it's a long way off from the troubles banks and broker-dealers faced in the 2008 financial crisis.
Outflows continued as Refinitiv Lipper reported $461.123 million was pulled from municipal bond mutual funds in the week that ended Wednesday after $307.815 million of outflows the week prior.
President Biden's budget would allow large transit agencies to divert formula capital grants to operations in 2024, a move that one transit official said may hurt smaller agencies.
Illinois earlier this week saw its second upgrade of the year and Gov. J.B. Pritzker suggested an uptick in revenue projections could provide room to further bolster fiscal metrics that helped draw the upgrade.
"What is happening at Silicon Valley Bank is on everyone's mind," UCLA Anderson Forecast Director Jerry Nickelsburg said at its quarterly economic update.
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.