Buy side

Municipal market buyers aren't waiting for the rating agencies -- they're already trading Illinois paper at junk bond levels.

In the week ended June 8, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index fell four basis points to 4.03% from 4.07% the previous week. The BB40 Index is based on the price of 40 long-term bonds.

A muni-focused asset manager is offering its clients social impact investing options.

Chicago is offering stronger rated utility-backed bonds but like its GO they face credit strain from pensions.

Analysts see discrepancies in the quality of disclosure across different sectors of the market.

Assured Guaranty, National Public Finance Guarantee, and Financial Guaranty Insurance Co. challenged diversion of special revenue bond collateral that secures $4.1 billion of Puerto Rico Highways and Transportation Authority bonds.

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices fell four basis points to 4.07% from the previous week's 4.11%.

Illinois received two downgrades Thursday, bringing it closer to a junk bond rating.

June, July, and August are projected to set a new record for redemption season, generating more than $100 billion of proceeds from called and maturing bonds.

The Bond Buyer presents a special Memorial Day podcast with three U.S. military veterans who are now working in munis. Matthew Murawski of Drexel Hamilton, Steve Kay of Academy Securities, and Jonathan Herrick of Mischler Financial Group talk about their lives and careers, their introduction into the world of public finance and their advice for service men and women looking to enter municipal finance field. Hosted by Chip Barnett.