Markets

The governor, in the final year of his term, asked lawmakers to approve reforms that would fix the Virgin Islands Water and Power Authority's balance sheet.

"Markets are reading this as a strategic pause, not a policy shift," said Gina Bolvin, president of Bolvin Wealth Management Group.

Downgrades of three private universities in the Northeast reflect enrollment pressures facing the higher education sector, particularly in that region.

The muni market has rebounded from the technical pressures of the first half of last year — a result of surging issuance — said John Miller, head and CIO of First Eagle's municipal credit team.

The city's Department of Water and Power, which saw spreads widen after last year's deadly wildfires, upsized a revenue bond deal amid strong investor interest.

Chicago general obligation bond prices have dropped sharply since the start of the year, according to the Center for Municipal Finance's muni indices.

The top two municipal bond insurers wrapped over $41.828 billion in 2025, up from $41.166 billion in 2024, data shows.

After Ken Paxton's opinion said giving preferences based on sex or race is unconstitutional, his office set a new certification requirement for bond issuers.

Munis were steady Monday following the large cuts the asset class saw last week, specifically on Tuesday, Jan. 20.

Subordinate bondholders will likely be wiped out.