Munis enter this year with "strong credit fundamentals, elevated tax-equivalent yields, and a steeper curve that supports duration extension," said James Welch, municipal portfolio manager at Principal Asset Management.
The MSRB published the request for comment Nov. 3 to seek input on draft amendments to Rule D-15, which defines the term sophisticated municipal market professional.
A federal court decision enjoins the state from enforcing a 2021 law that penalizes investment banks and others for "boycotting" the fossil fuel industry.
Yields have seen "intermittent volatility from broader macro and geopolitical crosscurrents, keeping sentiment cautious despite relatively muted headline moves," said James Pruskowski, managing director at Hennion & Walsh.
In rural areas, "even modest rate increases can force low-income households to choose between water service and other basic necessities," Matt Odermann from the National Rural Water Association told senators Wednesday.
An Indiana bill would address some concerns that were raised around 2025's Senate Enrolled Act 1, which created questions about local government credit quality.
Supply should be "well-received, given strong inflows and the increase in reinvestment capital for the new month," said Chris Brigati, managing director and CIO at SWBC, and Ryan Riffe, senior vice president of capital markets at the firm.
"This would be an unnecessary change that would be difficult to administer and comply with and which would severely limit municipal entity choice," the Bond Dealers of America said in a comment letter.
Native American Tribes are working from a disadvantage in bond sales due to Securities and Exchange Commission regulations that force them to register public market issuances, which raises costs.
Market Intelligence analyst Jeff Lipton analyzes how varied state funding priorities and overall charter school support, shifting enrollment patterns, policy uncertainty, charter renewal risk,? and varied pension practices affect charter school bond security?and outlines what issuers, advisors and investors should be communicating to the market.
The push for a Railroad Rehabilitation and Improvement Financing loan comes as opponents call for a full review of the railway over concerns about oil spills.
Issuance was $34.308 billion in 471 issues, down 7.2% year-over-year from $36.982 billion across 536 transactions in 2025. However, this was the third-highest monthly figure for January and above the month's 10-year average of $29.699 billion
The Metropolitan Transportation Authority's ability to finish projects on budget will become more crucial as federal, state and economic pressures mount.?
Munis were largely unchanged this week and tax-exempts continue to be "quite unattractive" at current levels, said Barclays (BCS) strategists led by Mikhail Foux.
Wells Fargo Securities will price for the Chicago Transit Authority $575 million of first and second lien sales tax receipts bonds on Thursday, Feb. 5.
"These municipal bond schemes improperly divert new issue bonds to bad actors at the expense of bona fide retail investors," FINRA's Meghan Ferguson said.
Over the past five years, January has seen a relatively stable market tone, said Jeff Timlin, managing partner and head of municipal bond investing at Sage Advisory.
Campbellsville University "shares many of the characteristics of schools that are struggling" in higher education, said Lisa Washburn of Municipal Market Analytics.
Market Intelligence analyst Jeff Lipton uses the Federal Reserve's latest Flow of Funds data to show how households still dominate municipal bond ownership even as ETFs surge and banks and insurance companies trim exposure, reshaping muni demand heading into 2026.
The governor, in the final year of his term, asked lawmakers to approve reforms that would fix the Virgin Islands Water and Power Authority's balance sheet.
After voters rejected a 2019 bond proposal, Michigan's Dearborn Public Schools is mulling a possible $500 million, $1 billion or $1.5 billion bond this year.
The rail tunnel connecting New York and New Jersey is well underway, but the project can't continue without federal funds the adminstration has choked off.
Public finance advocates are trying to interpret mixed signals about plans to pass a major reconciliation bill that could put the threat to the tax-exempt status of munis back on the table.
Hamilton City Schools blames state funding formula changes and property tax reforms for a fiscal emergency that has prompted school closures and deep cuts.
The muni market has rebounded from the technical pressures of the first half of last year ? a result of surging issuance ? said John Miller, head and CIO of First Eagle's municipal credit team.
The city's Department of Water and Power, which saw spreads widen after last year's deadly wildfires, upsized a revenue bond deal amid strong investor interest.
Bond advocates are watching the appropriations process while the possibilities of a Farm Bill and surface transportation reauthorization may offer openings for restoring advance refunding and raising the BQ cap.
After Ken Paxton's opinion said giving preferences based on sex or race is unconstitutional, his office set a new certification requirement for bond issuers.
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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