News Results

  1. SEC probing Ohio utility that benefited from tainted taxpayer bailout bill
    SourceMedia Bond Buyer | 09/17/20 05:06 PM EDT

    Details of the pending investigation are sketchy but the legislation improved the value of a then-bankrupt FirstEnergy (FE) subsidiary's municipal bonds.

  2. Former Atlanta CFO indicted by federal grand jury
    SourceMedia Bond Buyer | 09/17/20 03:28 PM EDT

    Jim Beard, Atlanta's CFO for seven years, was charged by a federal grant jury with fraud, theft of government funds and purchasing illegal machine guns.

  3. More supply surges into market; Refinitiv Lipper reports $612M inflow
    SourceMedia Bond Buyer | 09/17/20 03:28 PM EDT

    The new-issue market saw deals from Houston, the Illinois Finance Authority and the City and County of San Francisco, Calif., hit the screens.

  4. Disagreement on the role of the Fed's Municipal Liquidity Facility
    SourceMedia Bond Buyer | 09/17/20 02:51 PM EDT

    During a Congressional Oversight Commission hearing, the Fed's Kent Hiteshew said the MLF is working as is, despite having made loans to only two issuers.

  5. COVID-19 is breeding infrastructure postponements as states, cities slash budgets
    SourceMedia Bond Buyer | 09/17/20 01:07 PM EDT

    Congressional inability to agree on further stimulus aid means issuers are unlikely to see budgetary relief that would free up dollars for infrastructure at least until after the November election.

  6. Data shows slower economic improvement
    SourceMedia Bond Buyer | 09/17/20 12:11 PM EDT

    Jobless claims declined, but remain elevated, housing starts and building permits also slid, while manufacturing in the Philadelphia region expanded at a slower pace.

  7. Los Angeles braces for more coronavirus-driven budget cuts
    SourceMedia Bond Buyer | 09/17/20 11:48 AM EDT

    City leaders are evaluating layoffs, raise deferrals, leasing city assets and postponing construction projects.

  8. S&P places Oregon city, school district on CreditWatch
    SourceMedia Bond Buyer | 09/17/20 09:56 AM EDT

    The towns of Phoenix and Talent have been decimated, losing 2,350 homes.

  9. Biden calls for less Puerto Rico austerity
    SourceMedia Bond Buyer | 09/16/20 06:04 PM EDT

    The presidential candidate said Puerto Rico's debt should be audited and that some of it may have to be declared illegal and thus void.

  10. Illinois governor sounds budget alarms
    SourceMedia Bond Buyer | 09/16/20 05:52 PM EDT

    Gov. J.B. Pritzker warns of thousands of layoffs across illinois governments and a $1 billion hit to education funding if the federal government does provide relief.

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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