Markets

Assuming the taxable and tax-exempt rates are highly correlated (and in fact they are), we can show that the expected cost of a fairly priced callable bond exceeds that of an optionless bond.

Last year the university's investment portfolio grew by 47%, a factor contributing to the university's triple-A ratings.

Despite compelling yields and ratios, buyers continue to be selective. Even if rates stabilize, municipal investors will likely be cautious for some time, waiting for fund outflows to abate, strategists said.

The Regional Transportation Authority, Chicago Transit Authority and many state universities have drawn positive rating actions as the state's ratings improved.

Fitch Ratings revised its outlook on the city's AA-minus rating to positive ahead of a $1.08 billion general obligation bond sale.

The new relationship allows RIAs to access BondLink's hosted investor relations pages without having to leave InspereX's BondNav platform.

Investors pulled more from municipal bond mutual funds in the latest week, with Refinitiv Lipper reporting $2.446 billion of outflows, though that was down from $2.669 billion of outflows in the previous week.

Valuations look increasingly attractive relative to other fixed income asset classes, even as rising interest rates continue to weigh on the market, strategists say.

The Illinois Sports Facilities Authority's hotel taxes are on the rebound but Chicago is on the hook for a $28 million debt service gap this year.

Outflows continue with the Investment Company Institute reporting $6.167 billion pulled from muni bond mutual funds in the week ending May 4, up from $5.371 billion of outflows in the previous week.