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The negative rating outlook comes less than a week after Gov. Gavin Newsom announced a budget shortfall of $31.5 billion.
May 18 -
"Steep corrections occurring inside 10 years on the curve reflect an ongoing process to reduce a deep inversion," said Kim Olsan, senior vice president of municipal bond trading.
May 18 -
The Investment Company Institute reported investors pulled another $290 million out of municipal bond mutual funds in the week ending May 10.
May 17 -
The market is seeing a supportive environment for munis, said Nisha Patel, managing director of SMA Portfolio Management at Parametric.
May 16 -
"With rates volatility seemingly subsiding in the past few weeks, we could start to see outflows decrease and demand flow back into munis," according to AmeriVet Securities' Jason Wong.
May 15 -
The system's turnaround efforts include using proceeds of a proposed $710 million deal to sell hospice and home health assets to pay off direct placement debt.
May 15 -
A change by the IRS increases the Permanent School Fund's capacity by nearly 86%, allowing its triple-A school bond guarantee to be widely available again.
May 15 -
Investors will be greeted Monday with a new-issue calendar estimated at $6.018 billion with a few bellwether, triple-A names coming from Loudoun County, Virginia, Frederick County, Maryland, and Columbia University with sizable deals.
May 12 -
Banks reduced their quarterly muni holdings during the first quarter at the fastest rate in 20 years, per Municipal Market Analytics.
May 12 -
Outflows were seen again from municipal bond mutual funds, though they lessened this week as Refinitiv Lipper reported $101.664 million was pulled as of Wednesday.
May 11