MBIA says it isn't responsible for what its subsidiaries did.
The risk of contagion to the rest of the high-yield market is limited, investors said.
The Middle East conflict sent oil prices higher, potentially benefitting energy producing states, although heightened inflation risks could hit budgets.
Market support for taxables, particularly those from active issuers, remains firm. Taxables are seeing gains of 1.08% year-to-date, or 50 basis points above a UST index gain, said Kim Olsan, senior fixed income portfolio manager at NewSquare Capital.
The market is experiencing a "calm before a potential storm," said Chris Brigati, managing director and CIO at SWBC.
Megan Kilgore is leaving the Columbus, Ohio, city auditor post to launch a technology consulting firm, BKC Group, with Gregg Bienstock.
