Markets

Fitch released revised criteria about how it rates tax-supported state and local government credits.

For the 28th week in a row, municipal bond funds reported inflows, according to Lipper data released Thursday.

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, dropped four basis points to 3.94% from 3.98% in the previous week.

A spike in the SIFMA municipal swap index is making the short-end of the municipal bond yield curve unusually attractive.

New Jersey Senate President Steve Sweeney, D-Gloucester, floated an alternative proposal aimed at saving Atlantic City from insolvency that sets additional benchmarks for the distressed gambling hub before his previously-proposed state intervention would take effect.

UMB Bank N.A., the bond trustee for Texas Pellets, accelerated the outstanding debt on $186.5 million of bonds due to a default at the company owned by German Pellets, which filed for insolvency in February.

The Associated Press and Municipal Bond Information Services, a national consortium of municipal interdealer brokers, announced Monday that it has created a new muni bond index.

In the week ended April 7, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index fell five basis points to 3.98% from 4.03% in the previous week. The BB40 Index is based on the price of 40 long-term bonds.

Samson Capital Advisors and Wilkinson O’Grady Inc. will now officially operate under the name Fiera Capital Inc., as of April 4, and are the backbone of the Montreal-based money manager’s U.S. division.

Municipal managers are optimistic the price volatility and outflows associated with the April 15 tax deadline and spring redemption season will bring additional buying opportunities.