Finance

ICI reported nearly $3 billion of outflows, which is foretelling that coronavirus-driven volatility still lingers even if the muni market has rallied by at least 60 basis points since early-April high yields.

Starting on March 10, ETF prices consistently diverged from benchmark indices and were underpriced for about 10 trading days before converging again.

Technical and fundamental concerns surrounding credit and supply could present challenges for the market going forward but participants tepidly welcomed signs of stability.

S&P shifted its outlook the Illinois public universities it rates to negative as questions abound over how the state will manage revenue losses.

Due to the coronavirus, a plant in Indiana may not be able to make its bond payments.

Volume is down sharply across the Port Authority of New York and New Jersey's transportation assets since the March COVID-19 outbreak.

The rating agency affirmed its A3 rating of the state's general obligation bonds; the outlook revision affects $35.9 billion of debt.

Confidence in the municipal market among participants has been boosted by the Fed purchase program, but some expect that if equities dive amid more coronavirus fears or re-test March lows, munis could be rattled once again.

By trading electronically — the international standard — and providing regulatory reporting support as a result, the firm said it broadens the ability for foreign investors to buy munis.

The municipal bond market is taking it slow when it comes to new issuance as buyers and sellers move cautiously in the shadows of COVID-19.

Banks, asset managers, and other financial institutions need liquidity. This has created an unprecedented buying opportunity, with yields not seen since the financial crisis and then only seen for a short period of time.

Amid the market mayhem and work-from-home requirements, Hilltop Securities is adopting new tools to keep clients current on coping strategies.

Fitch follows Moody's in revising the Empire State's debt to negative from stable.

Moody’s revised its outlook on Illinois’ Baa3 rating to negative from stable; a university study warns of a worst-case $28 billion multi-year revenue hit.

The Fed will help the muni market navigate the short-term pain caused by coronavirus via direct purchases of bonds on the short end. However, the Fed will effectively hand off the responsibility to choose winners and losers to state officials, a move the market generally greeted positively.

Christopher Philips, CFA, head of Vanguard Institutional Advisory Services, discusses the importance of asset allocation during uncertain times as the coronavirus hits investors’ portfolios. He talks about looking at the fundamentals while distancing from the day-to-day value fluctuations. John Hallacy hosts this podcast, which was recorded March 20.

The market appears to be moving toward some semblance of normal conditions as the new-issue pricings and moderating bid volume create a more stable tone.

The review by Moody's Investors Service comes as the district is working on new money and refinancing deals.

Tax-exempt and taxable deals priced as dealers opened up their balance sheets to new issues while the market still awaits word from the Fed on coronavirus-led purchase programs.

Tuition revenue headwinds made worse by the COVID-19 pandemic cost New Jersey’s Rider University its investment grade rating.