Investments

The Investment Company Institute on Wednesday reported $2.258 billion of outflows in the week ending March 9, down from $3.502 billion of outflows in the previous week.

The Municipal Securities Rulemaking Board has closed its second comment period on Rule G-46, collecting three responses.

Bond investors are understandably cautious in response to recent market volatility and ahead of what is expected to be a Fed rate hike Wednesday, participants say.

Puerto Rico completed the exchange of more than $33 billion of existing bonds and other claims into $7 billion of new bonds plus cash and CVIs on Tuesday.

Half of the infrastructure funding is going to the states, and cities should talk to their governors to ensure they see some of that funding, White House Infrastructure Advisor Mitch Landrieu told the National League of Cities Tuesday.

The enrollment controversy hasn't affected the nine-campus University of California system's bond ratings.

As 2022 unfolds, a confluence of challenges has affected pricing, trading and fund flows in the muni market.

Washington state's future highway bonds would be bolstered by an additional revenue stream if the governor signs a bill approved by lawmakers.

The market is being driven by the prospect of higher long-term inflation and the potential that the Federal Reserve may have to raise rates further than expected.

This month the University of Michigan sold $1.2 billion and Michigan State University sold $500 million of taxable 100-year bonds.

Supported by the American Rescue Plan Act, signed into law almost exactly a year ago, cities "have come roaring back," the President said.

Restructured muni debt has "typically outperformed the broader muni market, as issuers emerge from bankruptcy with higher debt-servicing capacity and the debt re-enters the municipal high-yield index," noted PIMCO.

Next month’s Easter holiday in the U.S. is poised to create cash-flow headaches for the Federal Reserve and investors in Treasury debt.

Lloyd Nemerever will lead portfolio management for the firm's municipal bond-focused separately managed accounts.

DASNY leads the calendar with $2.3 billion of exempt personal income tax bonds and $662.32 million of taxables. Potential volume is slated to be $5.11 billion, with $4.392 billion of negotiated deals and $718.1 million of competitive loans.

The legislation would allow tax-exempt financing for the replacement of privately owned lead service lines.

The Municipal Securities Rulemaking Board’s request for information on ESG is an attempt to bring politics into capital markets, Marlo Oaks said.

The American Rescue Plan Act helped cities avoid insolvency after the pandemic struck, some mayors said.

The ruling means the restructuring set for Tuesday will proceed.

The U.S. Department of Transportation's budget swells to $140 billion from $80 billion with the omnibus and Infrastructure Investment and Jobs Act dollars.