Speculative grade bonds

The fund's sell-off in June shows the challenges of accurate pricing in the high-yield muni market.

Once considered as a promising prospect for investors, "green" bonds have been plagued by defaults, a concern for those who study the underlying technologies.

Prices for some bonds issued for Florida's express train have fallen sharply since Friday.

The Public Service Commission said it will reconsider rates at its August meeting.

The U.S. territory is struggling with debt and pension liabilities as its economy remains weak and federal aid is cut back.

The first public bond issue from Everglades College, Inc., will finance projects on the institution's Keiser University flagship campus in West Palm Beach.

The selloff highlights the lack of accurate pricing and credit information across the speculative-grade muni market.

The rock-bottom prices show the risks of a high-yield market where liquidity is famously limited.

The U.S. Virgin Islands WAPA said the Public Service Commission's reduction of electric rates jeopardizes its ability to pay bills and provide electric service.

"The broader themes from the demand perspective are that it's choppy and people are not necessarily jumping into high-yield munis with both feet," said First Eagle's John Miller.