Finance

Ahead of the state's $1.2 billion sale next week, S&P revised its outlook on the AAA rated state to negative

Municipal yields fell as much as three basis points on the long end of the AAA curves.

The drop in tourism amid the coronavirus pandemic has resulted in a downgrade of Hawaii's ratings by Moody’s Investors Service affecting $9 billion in outstanding debt ahead of the state’s plans to price $900 million of taxable bonds Wednesday.

Municipal bonds were little changed on Monday ahead of this week's new-issue calendar.

The rating agency affirmed the U.S. at AAA but said the outlook cut reflects ongoing deterioration in U.S. public finances.

Municipal bonds finished out the month on a strong note, with yields dropping by as much as two basis points on Friday.

Municipal issuers continue to swarm the muni market with taxable muni deals, as July accounted for $42.6 billion — the highest total for the month since at least 1986.

Fintechs are facing unique challenges in the pandemic. There might be a resurgence in funding on the horizon, but startups are looking to see what they can do now to weather the storm.

Muni yields fell by as much as three basis points, according to readings on the AAA muni scales. However, some traders and analysts said this market is too tight given COVID-19 threats. Lipper reported $1.8 billion of inflows in the latest week.

Mayor Bill Peduto warned of significant cuts to next year's budget if the city does not receive adequate rescue assistance.

The Metropolitan Pier and Exposition Authority named underwriters and a team to sell up to $200 million of bonds to manage pandemic-driven revenue losses.

Municipals were little changed as all eyes focused on the primary.

Their suit against 11 bond underwriters will be heard in a local, rather than federal, court, the lead judge said Wednesday.

Fitch Ratings cut Pioneers Memorial Healthcare District in Imperial County to BB from BBB-minus.

Municipals held firm as more new deals swarmed into the marketplace.

The lack of a significant new-issue calendar is encouraging some investors to purchase ahead of the first of the month, but others are putting buying off until the arrival of Aug. 1 redemptions.

Major deals that produced record savings have enhanced the firm's credentials among municipal bond senior managers in Texas.

Municipal bonds finished steady on Friday ahead of next week's $7.8 billion new-issue slate while high-grade paper trades up in the secondary. Investors are looking for stability.

Municipals finished mostly stronger on Thursday as retail investor confidence remained high for the 11th straight week. Taxable 'social' bonds for nonprofits are making their mark in the municipal space.

Cyberattacks are increasingly likely as more government employees work from home due to the coronavirus pandemic, analysts said.