The decision comes as the courts told the city it's on the hook to make up the roughly 2% shortfall in property tax collections to fully cover set payments.
The deal, issued through the California Housing Finance Agency, is the first multifamily tax-exempt deal to qualify for the GSE's Green Rewards program.
Richard Taormina, head of Tax Aware Strategies at JPMorgan Asset Management, talks about the value of municipal bonds and focuses on performance, foreign demand and the effect of the tax reform legislation on the market. Chip Barnett hosts this podcast, which was recorded in early October.
Moody's Investors Service (MCO) raised the outlook to positive from stable on Palomar Health's junk-rated revenue bonds and investment grade general obligation debt.
Potential downside risks from “global developments” persuaded most members of the Federal Open Market Committee to vote to cut the benchmark rate in October, and then to hold it.
In a working paper paper released by the Volcker Alliance on Wednesday, researchers said states need to do a better job of disclosing their infrastructure needs.
The launch of Ipreo Muni for institutional investors enhances digital workflow by increasing efficiency in the municipal space, providing a centralized hub of real-time pricing, analytics and issue-specific updates.
Longwood Gardens Inc., the late DuPont Co. chief Pierre S. du Pont's intensively planted Chester County estate that has become a top Pennsylvania tourist attraction, is planning a major expansion, bond documents show.
President Donald Trump invited Federal Reserve Board Chair Jerome Powell to meet at the White House with him and Treasury Secretary Steve Mnuchin, with few details released.
Metropolitan St. Louis Sewer District will sell $323 million of new money and refunding bonds as it prepares to ask voters for $500 million in new authority.
The action in the municipal market won't slow down yet, as bond hungry money managers will get a third week in a row of issuance greater than $11 billion.
Montreal businessman Anthony McCord will arrive next month as New York's Metropolitan Transportation Authority's chief transformation officer amid variables about the authority's operational and capital funding.
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.
Publication Date