Sparse secondary trading and the long holiday weekend allowed municipals to outperform U.S. Treasuries and corporates Friday as the dearth of primary issuance has kept investors engaged without demanding as much concession despite volatility. Triple-A yields were slightly cheaper on the short end while UST yields rose up to nine basis points on the short

The Financial Industry Regulatory Authority has censured and fined Morgan Stanley $1.6 million for failing to close out 239 inter-dealer transactions within twenty days, as well as for failing to obtain physical possession of 247 short positions. In doing so, the banking giant violated MSRB Rule G-12(h) on uniform industry practices, MSRB Rule G-27 on

The Puerto Rico Oversight Board has brought on David Brownstein, who spent more than three decades at Citi with a focus on derivatives, distressed issuers and debt restructurings, as a restructuring advisor on its plan of adjustment for the Puerto Rico Electric Power Authority. Brownstein’s new boutique restructuring advisory firm, BGC Partners Advisory LLC, entered

The secondary market was active and trading showed strong prints across the curve, pushing triple-A yields lower following a stronger U.S. Treasury market. Triple-A yields fell two to four basis points while UST yields fell two to three basis points. Municipal bond mutual funds saw the second week of outflows, with LSEG Lipper reporting $142.2

Bellevue, Nebraska, plans to issue $60 million of municipal bonds to build a 100,000-square-foot indoor water park as a draw for visitors and their money. Inspired by a Texas water park and managed by the same company that runs that park, American Resort Management, the new water park will form part of an entertainment district

Munis were steady to a touch firmer in spots and new-issues fared well in the primary, while U.S. Treasury yields fell and equities ended the trading session up as markets further digested inflation data and its effects on future Fed moves. Triple-A yields fell a basis point or two, depending on the curve, while USTs

A hotter-than-anticipated inflation report spurred a selloff in U.S. Treasuries and equities, and municipals could not ignore the broader markets and closed weaker on the day. Triple-A yields rose up to six basis points but largely outperformed UST losses that touched 17 to 20 basis points on the short end. Expectations for a Fed rate

The number of distressed charter schools rose to a record in the beginning of 2024 as the sector struggles with the end of pandemic assistance and rising costs. So far this year, five charter schools have become impaired, meaning a borrower has defaulted on their debt, broken a covenant or used some emergency means to