Markets

In the week ended Feb. 18, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index rose three basis points to 4.04% from 4.01% in the previous week. The BB40 Index is based on the price of 40 long-term bonds.

Investors eager to buy triple tax-exempt debt have been turning to the Pacific Ocean territories of Guam and American Samoa, where limited tax bases and large debt loads create some risks reminiscent of Puerto Rico.

Verity Health System of California agreed to repay its $278.6 million in junk-rated revenue bonds at a higher interest rate in exchange for relaxed debt service coverage requirements.

Standard & Poor's made nearly twice the number of upgrades as downgrades in United States Public Finance in 2015.

Demand for municipal mutual funds has increased as investors rebalanced holdings to shelter themselves from domestic and overseas volatility, says Jeffery Elswick of Frost Investment Advisors.

In the week ended Feb. 11, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index fell four basis points to 4.01% from 4.05% in the previous week. The BB40 Index is based on the price of 40 long-term bonds.

The head of the agency that accredits Illinois' state universities issued a warning to state leaders as the schools struggle in the absence of state funding because of a continued budget stalemate.

Thomas Schuette has been promoted to Partner and Co-Head of Portfolio Management at Gurtin Fixed Income Management LLC, the firm announced on Monday. Schuette's promotion is aimed at bringing the credit research and portfolio management teams closer together.

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, was 11 basis points lower to 4.05% from 4.16% for the previous week.

Investors should be wary of riskier market sectors, while increasing liquidity and credit quality as they position their portfolios for the year ahead, Warren Pierson, senior portfolio manager at Baird Advisors said.