Friday's story about Investment Grade Municipal Income Fund Inc. mischaracterized a proposal that failed to command enough shareholder votes. The proposal was for a new management contract with UBS Global Asset Management as adviser, not to renew the existing contract. The fund's board has the right to retain UBS as adviser even if the proposal to modify the contract failed.
Next week's issuance is slated to be "substantial" — an estimated $13.1 billion — although that is expected to be met with "solid" November reinvestment capital, J.P. Morgan strategists said.
States have spent weeks preparing for how they would cover the $8 billion shortfall in food stamps for the month of November.
The rating agency expects the school to post an operating deficit this year.
City Manager Oliver Chi unveiled a plan to invest $60 million to change the city's current trajectory.
"Illinois is just pure mismanagement," Ryan Frost, managing director of the Reason Foundation's Pension Integrity Project, said.
Issuance year-to-date is $493.063 billion, up 9.3% from $451.079 billion over the same period. With issuance estimated at $13.118 billion in the first week of November, 2024's $500-plus billion record should fall within the next week or two.
