The Municipal Bond Index for Tuesday, Nov. 4, has been revised because Standard & Poor's Securities Evaluations Inc. priced one of the bonds incorrectly. The Long Island Power Authority's 6% bond due May 1, 2033, should have been priced at 100.385. As a result, the index for Nov. 4 is now 97-23, the average dollar price is 95.32, the average yield to par call is 6.23%, and the average yield maturity is 5.94%.
The muni new-issue market got a breather after a heavy supply day on Tuesday, according to Franklin Templeton's Jennifer Johnston.
Spirit's ceasing operations after a failed $500 million bailout comes as the airport sector remains resilient despite ongoing geopolitical tensions, with spreads compressing compared to other transportation sectors despite rising fuel costs, Barclays strategists said.
Artificial intelligence will help maintain the nation's global competitiveness, according to a panel of political and tech leaders at the Milken Institute's Global conference.
Senior bonds most recently traded for 30 cents on the dollar.
The District of Columbia Water and Sewer Authority is applying for a reimbursement from the federal government for repair costs to a broken water line that flooded the Potomac River with raw sewage.
After Gov. JB Pritzker released his BUILD plan to lower housing costs, the Illinois Municipal League unveiled its proposal: the REAL Housing Act.
