Markets

The number of credit rating upgrades for states was nearly double the number of downgrades in 2015, according to an annual report released by Standard & Poor’s Tuesday.

Stability in key sectors of the municipal bond market, as well as low volatility, low risk, and a mild potential for capital appreciation will fuel solid demand for the asset class in 2016, according to John Miller, who manages or co-manages about $20 billion of munis at Nuveen Asset Management.

New Jersey is experiencing a deterioration of its credit quality with spreads widening in state-issued debt, according to Janney Capital Markets.

Axis Trading Solutions, Inc. said trading will resume on MuniAxis, under a new partnership with RBC Capital Markets LLC, in the first quarter of this year.

Falling tax assessments on Energy Future Holdings power plants could strain local budgets in six Texas counties as the company tries to emerge from the nation's largest corporate bankruptcy.

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, was one basis point higher to 4.05% from 4.04% for the previous week.

Post-recession yield ratios should continue to favor munis for the foreseeable future, investment strategists say.

The many sectors and subsectors of municipal bonds experienced widely varied rates of growth or decline in 2015.

After 16 consecutive quarters of positive tax receipts received by state and local governments, municipal experts said it's no surprise that the need for short-term municipal note issuance has been steadily declining in recent years.

A Financial Industry Regulatory Authority arbitration panel in San Juan ordered UBS AG to pay an investor about $1.45 million in compensation for losses suffered by investments in its Puerto Rico closed-end bond funds.