The Metropolitan Transportation Authority pledged in a legal settlement to devote nearly 15% of its capital plan to make more of its facilities accessible.
The general bias toward muni rates is that they would be a bit higher with technicals "being a little less supportive than they were in August, plus what we heard with from the Fed 'higher for longer,' and potentially another hike," said Jeff MacDonald, head of Fixed Income Strategies at Fiduciary Trust International.
The private equity firms accused the bank of concealing key changes to a credit agreement, in part because it wanted to win future muni bond business from Brightline Holdings.
Submissions must be received no later than Friday, Oct. 20 for consideration for Deal of the Year awards; for the Freda Johnson awards, the deadline is Friday, Sept. 29.
A U.S. federal judge on Thursday said American cities may pursue class-action claims accusing eight large banks of driving up interest rates they paid on a popular municipal bond.
On September 20, 2023, KBRA assigned a long-term rating of AA- to the Metropolitan Pier and Exposition Authority McCormick Place Expansion Project Refunding Bonds, Series 2023A and McCormick Place Expansion Project Refunding Bonds, Series 2023B. To access rating and relevant documents, click here. Click here to view the report.
A U.S. federal judge on Thursday said American cities may pursue class-action claims accusing eight large banks of driving up interest rates they paid on a popular municipal bond.
Carl Katerndahl to join new team as Chief Operating Officer First Eagle Investments today announced that it has established a new High Yield Municipal Credit team. ?At First Eagle, we want to be a gravity well for superb talent. Miller has spent nearly three decades in the municipal bond arena, with more than 23 years managing portfolios on behalf of clients.
CUSIP Global Services today announced the release of its CUSIP Issuance Trends Report for August 2023. North American corporate requests totaled 5,517 in August, which is down 6.4% on a monthly basis. Municipal request volume rose sharply this month after slowing in July.
As was expected, the FOMC held rates in a range between 5.25% and 5.50%, but the dot plot in the Summary of Economic Projections showed 12 of 19 members expect another 25-basis-point rate hike this year.
On September 19, 2023, KBRA assigned long-term ratings of AA with Positive Outlooks to the Chicago Park District's General Obligation Limited Tax Park Bonds Series 2023B; General Obligation Limited Tax Refunding Bonds, Series 2023C; General Obligation Unlimited Tax Refunding Bonds, Series 2023D; and General Obligation Unlimited Tax Bonds, Series 2023F.
The website now shows Bloomberg's yield curve with hourly updates between 9 a.m. and 4 p.m. The move changes EMMA's usual practice of displaying yield curve data from the day before.
Public finance and public trust must go hand-in-hand and that is where ESG and impact investing can play a role moving forward ? it's the data, not the label.
Fund flows "should be moving along a more positive trajectory, but they have yet to do so with munis unable to break free of the Treasury market's tight grip," Oppenheimer's Jeff Lipton said.
With a light new-issue calendar ahead of the FOMC meeting, "secondary flows may benefit from greater attention," said Kim Olsan, senior vice president at FHN Financial.
The GOP stopgap funding measure may only kick the can down the road for a month, but how this bill passes will have implications for how Congress feels about additional spending measures.
A constitutional amendment on the Nov. 7 ballot would deposit $1 billion in a Texas Water Fund with at least 25% earmarked to increase the drought-prone state's water supply.
"We believe investors should take advantage of the current high rates environment: investors should pick and choose bonds selectively in the coming weeks in anticipation of this tightening cycle's end after November," BofA strategists said.
"Last year's successful social bond issuance has proven that there is growing investor demand for socially conscious investments and I am thrilled that we are able to offer this opportunity again," said City Comptroller Lander said.
Loop Capital Markets CEO Jim Reynolds, Jr. said he would gladly pay a bit more for a muni bond that tackled gang violence in Chicago during a debate on ESG factors among market veterans at The Bond Buyer's infrastructure conference this week.
Refinitiv Lipper reported $116.737 million was pulled from municipal bond mutual funds for the week ending Wednesday after $798.474 million of outflows from the funds the previous week.
There hasn't been a huge return of capital in the muni market so far this year, with fund flows being rather anemic, said Chad Farrington, co-head of municipal bond strategy at DWS Group.
The state in 2010 sold $1.5 billion of bonds backed by payments from a master settlement agreement with tobacco firms and used the proceeds to pay overdue bills.
"In the coming weeks, we will be taking a much closer look?at?the?challenges we face and how we will address those challenges?reasonably and responsibly," said Mayor Brandon Johnson.
The Local Government Commission approved issues for Charlotte's airport and arena and other projects around the state while returning fiscal control to Robersonville.
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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