The rule establishes the standards to which registered solicitor municipal advisors should adhere and includes amendments to Rule G-8 on books and records.
Fitch Ratings affirmed Illinois GO bonds at BBB-plus and lifted the rating outlook as the state prepares to sell up to $2.5 billion of general obligation debt.
Outflows continued as Refinitiv Lipper reported $194.097 million was pulled from municipal bond mutual funds in the week that ended Wednesday after $427.082 million of outflows the week prior.
BNY Mellon Investment Adviser, Inc. announced today that BNY Mellon Municipal Income, Inc., BNY Mellon Strategic Municipal Bond Fund, Inc. (DSM) and BNY Mellon Strategic Municipals, Inc. (LEO) have declared a monthly distribution for each Fund's common shares as summarized below.
Outflows continued, with the Investment Company Institute reporting investors pulled $693 million from mutual funds in the week ending March 22, after $684 million of outflows the previous week.
Massive transit projects have funding momentum, and traditional road and bridge projects are advancing as well despite political opposition and some shaky funding.
The publicly offered tax-exempt debt product is new for the firm and the collateralized debt obligation structure may be one of the first for the market since the 2008 financial crisis.
Munis are directionally trading with USTs but underperforming in days where USTs rally and outperforming in days where USTs sell-off, said Greg Gizzi, head of U.S. fixed income and head of municipal bonds at Macquarie Asset Management.
Federal funds bankrolling development of Vermont's broadband infrastructure will run dry next year, according to an investigation by the state auditor's office.
The Investing in Our Communities Act, introduced by House members Kustoff, R-Tenn., and Ruppersberger, D-Md., would reinstate tax-exempt advance refunding.
The state, through its established conduit issuer, is eyeing new financing products to promote climate goals as its pursues $1.2 billion of federal funds.
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.
Employee-owned Baird announced that the Baird Strategic Municipal Bond Fund has received a 2023 Refinitiv Lipper Fund Award. The Baird Strategic Municipal Bond Fund is co-managed by Lyle Fitterer, CFA, Duane McAllister, CFA, Erik Schleicher, CFA, Joe Czechowicz, CFA and Gabe Diederich, CFA.
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.
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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