Municipal bond underwriters did the majority of business during the first two months of the year, before COVID-19 swept the country with sickness and severe spreading. The top underwriters accounted for $87.84 billion of bonds throughout 2,119 transactions, compared to $75.84 billion in 1,809 deals in first quarter of 2019.
High-yield funds saw outflows of $413.6 million compared to the previous week's outflows of $71 million.
Six Texas cities sued the state comptroller over a rule that altered where sales taxes would be collected on certain online purchases.
The battle over ESG investing is spreading in the Midwest, with the recent passage of an Ohio law and a decision by the Indiana Public Retirement System.
Analysts are unsure what the Federal Open Market Committee will do with monetary policy in 2025. The panel projects two rate cuts, but some analysts expect more, and others see fewer.
A new law and constitutional amendment will restrict how fast property tax bills can rise on homestead properties, impacting local governments.
In the remaining days of this year, "taxable rates continue to be pressured but munis are finding a stable, even supportive, bidside," said Kim Olsan, a senior fixed income portfolio manager at NewSquare Capital.
