Markets

Moody's raised the Chicago Board of Education's rating by one notch to Ba2.

Ongoing turmoil in the Ukraine is roiling markets, municipals included. Refinitiv Lipper reported more outflows, with high-yield seeing $818.218 million pulled out in the latest week.

The MSRB’s annual fact book, released on Wednesday, shows that par amount trading volume was down 28% in 2021 when compared with 2020.

The University of Michigan follows Michigan State this month in joining the club of universities offering 100-year bond maturities.

The restructuring is on track to occur March 15, officials said.

The 18-member group will be headed by Eric Scroggins, co-head of debt advisory and restructuring, and Bill Reisner, head of public finance investment banking.

The Investment Company Institute on Wednesday reported $2.637 billion of outflows in the week ending Feb. 23, down from $3.120 billion of outflows in the previous week.

Moody's said the upgrade reflects continuing strong revenue and liquidity trends, completion of a debt-reduction program and increased pension contributions.

The Russian invasion of Ukraine could slow interest rate hikes and has led the market to pull back on the chances of a 50-basis-point liftoff.

North Carolina Treasurer Dale Folwell talks with The Bond Buyer's Chip Barnett about how the state's economy has remained in financially good health despite dealing with the COVID-19 pandemic as well how the state deals with troubled municipalities. As chair of the debt affordability commission, he chats about bond issuance. He also discusses the ways to reform healthcare and increase transparency. (15 minutes)