In the latest development in the investment landscape, BlackRock has announced the conversion of its $1.7 billion BlackRock High Yield Municipal Bond Fund into an active exchange-traded fund (ETF). This transition reflects a seminal shift in investor preferences, as many are increasingly favoring ETFs over traditional mutual funds. Such strategic changes by major financial institutions
Bonds
The municipal bond market is currently experiencing fluctuations that reflect broader economic trends, specifically in the context of recent interest rate movements and investor behaviors. This article delves into the current state of municipal bonds, emphasizing key developments and strategic insights that could impact future prospects for investors and issuers alike. On a recent Thursday,
In a significant move that underscores the evolving landscape of municipal credit assessments, S&P Global Ratings has initiated a comprehensive reevaluation of its rating methodology for state and local government issuers. More than 400 such issuers have been placed under criteria observation, indicating a potential recalibration in how these entities are rated. The updates introduced
As we navigate through 2024, the bond issuance market is experiencing a remarkable surge that positions it to potentially set new historical records. Data from LSEG reveals that September marked yet another impressive month in the market, highlighted by a 44.5% increase in issuance compared to the previous year. This growth can largely be attributed
The bond market has recently witnessed an unprecedented surge in activity, particularly in the high-yield sector. Investor enthusiasm is palpable, with a significant increase in oversubscriptions and a rush to acquire tax-exempt debt. This dynamic has been driven by various factors, including economic trends and fiscal policies, that continue to influence both the supply and
The recent deferral of a pivotal $1.5 billion bond measure by the Chicago City Council underscores the complexities and challenges faced by the city in navigating its ongoing financial obligations. This article delves into the implications of the council’s decision, the concerns articulated by various stakeholders, and the broader context of the city’s credit rating
The bond insurance landscape has shown remarkable resilience and growth throughout the first three quarters of 2024. This dynamic market, crucial for municipal debt financing, witnessed a staggering year-over-year increase of 26.8% in the amount of debt secured with bond insurance. As municipal bond insurers embraced a newfound demand, the total wrapped amount reached an
In a response to the increasing financial needs of charter schools across the United States, the Equitable School Revolving Fund LLC. is set to launch a groundbreaking bond offering next week amounting to $300 million in A-rated social bonds. Established in 2017, this initiative stands as a unique loan pool specifically designed to support public
In the evolving landscape of the municipal bond market, recent trends reveal a complex interplay among municipal yields, U.S. Treasury rates, and local economic factors. As the fourth straight session of slight weakening hits the municipal bond sector, analysts are scrutinizing the underlying mechanisms that drive these fluctuations and the implications they hold for investors
The University of Arizona (U of A) has embarked on a significant venture in the municipal bond market to recuperate from financial adversities that have impacted its credit rating. This move comes at a critical juncture, as the institution grapples with a negative outlook from respected credit rating agencies, including Moody’s and S&P Global Ratings.