Municipals felt the pressure of a U.S. Treasury market selloff, but outperformed their taxable counterparts, after better economic data sent investors flocking to equities in a risk-on trade. Triple-A yields rose two to four basis points, depending on the yield curve, while UST saw losses of up to 15 basis points on the short end,

The Biden Administration is taking unprecedented steps to address the rising heat in what many are already deeming the hottest year on record by releasing its National Heat Strategy, a 37-page strategy document outlining how the Administration will work with federal agencies and state and local governments to address the growing threat of extreme heat.

Municipal bonds improved Wednesday as attention turned to the primary market with Chicago coming off the sidelines to price its delayed general obligation bond deal along with deals from the Triborough Bridge and Tunnel Authority, the Pennsylvania Turnpike Commission and the Las Vegas Valley Water Department. U.S. Treasuries and equities closed the session mixed following

The Financial Industry Regulatory Authority has fined Morgan Stanley $24,000 for failing to disclose mark-ups and mark-downs on 19,000 municipal securities transactions, part of a $400,000 total penalty the latest in a string of recent actions FINRA has taken to prosecute mark-up disclosure failures. Morgan Stanley, which neither admitted nor denied FINRA’s findings, also failed

Municipal yields fell Tuesday as the primary kicked into gear, while munis underperformed an improved U.S. Treasury market as equities rallied after inflation data came in softer than expected. Triple-A municipal curves saw bumps of two to four basis points with the better performance on the short end while Treasuries improved by four to eight

The Financial Data Transparency Act (FDTA) passed by Congress in December 2022 mandated the use of a common, non-proprietary legal entity identifier for municipal issuers. Although Congress’ legislative intent continues to be a matter of debate, we argue that any implementation of this new mandate will have to satisfy a basic market need: the correct

Hawaiian Electric Industries Inc. pegged losses from estimated accrual of liabilities stemming from one of the worst wildfires in US history at $1.7 billion and issued a going-concern warning.  Hawaiian Electric said Aug. 2 that it had agreed to pay almost $2 billion as part of a $4 billion settlement to resolve hundreds of lawsuits

Puerto Rico Electric Power Authority bondholder’s lien rights are narrow, the Puerto Rico Oversight Board and the Official Committee of Unsecured Creditors argued in filings late Friday with the U.S. Appeals Court for the First Circuit. In June a panel of three judges ruled PREPA bondholders have a lien on the authority’s net revenues. The