Fayetteville, Arkansas, Voters OK $335.5 Million of Bonds
Fayetteville voters approved a $335.5 million municipal bond, keeping a 1 % special sales tax in place to service the debt. The package earmarks funds for water, sewer, parks, animal services, pedestrian infrastructure, recycling, fire‑safety projects, and allocates $61.9 million to build an aquatic recreation center. It also includes refinancing up to $40 million of existing capital‑improvement bonds and extends the sales‑tax financing mechanism. The city expects to issue the new debt through Stephens Inc. by May 15, following a prior $226 million bond approval in 2019.
OXLCI: The Common Equity Is Tricky, The Bonds Are Not
Oxford Lane Capital Corp.'s common equity has slumped sharply, yet its OXLCI baby bonds remain resilient. The bonds carry an 8.75% coupon, delivering a yield‑to‑maturity near 8%, and are backed by coverage ratios above 340%, far exceeding the 300% regulatory...
Amazon Reportedly Targeting Up To $42 Billion In Bond Sale
Amazon filed a preliminary prospectus to raise between $37 billion and $42 billion in a mixed‑currency bond offering, the largest since its $15 billion sale in November. The proceeds are earmarked for Amazon’s aggressive AI push, including massive data‑center construction and a recently...
Busting the Myth of Treasuries as a Haven
Recent market episodes, including the US‑Iran war and the 2022 rally, showed stocks and Treasuries moving together, challenging the notion that Treasuries act as a safe haven in bear markets. Bloomberg’s analysis of data back to 1926 finds near‑zero correlation...
UBS AM Lists New Sustainable Corporate Bond ETF on LSE
UBS Asset Management has listed the UBS BBG MSCI Global Liquid Corp Sustainable UCITS ETF on the London Stock Exchange. The fund tracks the Bloomberg MSCI Global Liquid Corporates Sustainable Bond Index, which excludes the lowest‑rated 20% of securities on...
Seven Developments Shaping US Treasury Clearing
The SEC’s upcoming Treasury clearing mandate is set to make central clearing mandatory for U.S. Treasury securities, prompting firms to re‑engineer trading, risk, and operational frameworks. The Fixed Income Clearing Corporation (FICC) is responding with seven new initiatives, including expanded...
Flexential Seeking $1.4bn in ABS, Backed by 28 Data Center Sites
Flexential is pursuing a $1.4 billion asset‑backed securities (ABS) issuance. The notes, structured in two series across four classes, will be secured by its 28 data‑center sites spanning 14 markets and roughly 1.8 million sq ft of floor space. Proceeds will cover closing costs...
Mayo Clinic to Issue $750 Million of Bonds
Mayo Clinic announced a $750 million bond issuance slated for early to mid‑April, comprising a blend of 30‑year notes and intermediate‑term debt ranging from seven to 15 years. The proceeds will finance the nonprofit’s expansive "Bold. Forward. Unbound." capital program, which...
Bond Supply, Issuance on the Upswing in 2026
The Bond Buyer’s 2026 Predictions report forecasts municipal bond issuance to surpass $500 billion, with many respondents arguing $750 billion or more is required to fund looming infrastructure needs. Overall supply, tax‑exempt and revenue bonds are all expected to grow, driven by...
Fixed Income Electronic Trading Platform Trumid Achieves New Average Daily Volume Milestone in February
Trumid’s electronic fixed‑income marketplace posted a record $10.2 billion average daily volume in February, a 37% year‑over‑year increase and the first time it breached the $10 billion mark. Market share rose 13% YoY, while its RFQ tool surged 148% to a $1.6 billion...
Valero Offers $850MM Debt Instrument Sale
Valero Energy priced an $850 million senior note offering due 2036 with a 5.15% coupon, set to close Tuesday. The net proceeds will refinance higher‑cost 2026 debt, including 7.65% debentures and 3.4% senior notes. In 2025 the refiner achieved a record...
Government Borrowing Costs Mount on Fears of Inflation Spike
Government gilt yields spiked on Monday as oil prices surged nearly 30%, reigniting fears of higher inflation and prolonged interest‑rate hikes. The 10‑year gilt rose 14 basis points, while the two‑year jumped over 23 basis points, reflecting market expectations that...
AVK: This CEF Offers A Better Way To Invest In Bonds Than Most Other Funds
The Advent Convertible and Income Fund (AVK) delivers an 11.63% distribution yield by blending convertible securities with high‑yield junk bonds. Leverage sits at 37.07%, amplifying returns while keeping principal volatility moderate. The fund trades at a 6.86% discount to NAV,...
Municipality Finance Issues DKK 1 Billion Notes Under Its MTN Programme
Municipality Finance Plc (MuniFin) issued DKK 1 billion senior notes on 10 March 2026 with a fixed 2.288 % annual coupon and a maturity of 10 March 2031. The issuance is part of MuniFin’s EUR 50 billion medium‑term note programme and is being underwritten by Skandinaviska Enskilda Banken...
Iran Conflict Could Increase Challenges for Emerging Market Sovereigns: Fitch
Fitch Ratings warns that the ongoing Iran‑Israel conflict could create new credit risks for emerging‑market sovereigns. Disruptions to Gulf oil supplies may push energy import costs higher, strengthening the US dollar and tightening debt markets, especially for speculative‑grade issuers. Countries...
Consider Credit--Fundamental Ratings Monthly Briefing March 2026
Morningstar DBRS released its March 2026 Consider Credit—Fundamental Ratings Monthly Briefing, presenting a Credit Rating Actions Dashboard that spans sovereign, public‑finance, banking and corporate sectors. Most ratings were confirmations, with a handful of trend upgrades, a single bank downgrade, and upgrades for...
Zambia and UK Sign Debt Restructuring Deal Under G20 Framework
Zambia and the United Kingdom have signed an amendment that reduces Zambia's outstanding debt to the UK from $291 million to about $277 million and pushes the final repayment deadline from 2032 to 2043. The deal is part of Zambia’s broader debt‑restructuring...
PTY Has Struggled, But The Income Is Compelling And It Can Rebound
PIMCO Corporate & Income Opportunity Fund (PTY) trades at an 11.24% distribution yield, delivering $1.43 per share despite a recent price decline. The fund’s net asset value remains resilient, indicating solid portfolio quality, while the discount stems mainly from premium...
CLOZ: Price Decline Presents An Opportunity
The Eldridge BBB‑B CLO ETF (CLOZ) currently offers an attractive 8% yield, but its share price has slipped as credit spreads tighten and market volatility rises. The fund’s income stream relies heavily on elevated interest rates, so a continued decline...
Are EM Bonds the Most Obvious Trade in the World?
Emerging‑market (EM) bonds are delivering roughly double the yield of developed‑market debt while their volatility has fallen below that of traditional safe‑haven assets. The structural advantage stems from EM governments carrying about half the debt‑to‑GDP ratios of their developed counterparts,...
Stocks Sell Off, Yields Rise, Energy Surges on War in Middle East (253)
The Feb. 28 outbreak of war in the Middle East sparked a broad equity sell‑off during the March 2‑6 week, while energy stocks were the only sector to post gains, rising about 1 %. Treasury yields climbed across the curve, except for a...
Jackson Hospital Bondholders Offered Less than 19% Recovery
Jackson Hospital & Clinic in Alabama has filed Chapter 11, offering bondholders an estimated 18.7% recovery on par, or 22.9% for the broader secured class. The $87.5 million secured claim pool will be paid via a $2.5 million cash injection, $7.5 million senior unsecured...
IDB Invest and Banco Bolivariano Launch Ecuador’s First Biodiversity Bond
IDB Invest has committed $50 million to Ecuador’s inaugural biodiversity bond, part of a $120 million issuance also backed by the International Finance Corporation and Dutch development bank FMO. The bond, issued through Banco Bolivariano, will fund projects under its Biodiversity Financing Framework,...
Aqua Finance Prepares to Sell $381.3 Million in ABS
Aqua Finance is re‑entering the securitization market with a $381.3 million asset‑backed security backed by loans for water‑treatment equipment, home‑improvement projects, marine craft and recreational vehicles. Originations through Q4 2025 jumped 30.6% year‑over‑year, fueled by new partnerships that lifted borrower quality to...
Priority 1 Issuer Logistics DAC – Q4 FY25 Investor Update and Management Accounts
Priority 1 Issuer Logistics DAC has published its consolidated management accounts and interim management report for the three‑month period ended 31 December 2025. The Q4 FY25 investor update is now accessible via the company’s investor portal and Oslo Børs NewsWeb. The filing...
Brightline Florida Hit with Another S&P Downgrade
Brightline Trains Florida LLC saw S&P Global Ratings downgrade its $2.2 billion Opco debt and $1.19 billion East bonds to CCC‑minus, deepening its junk‑status. The downgrade follows a series of rating cuts by KBRA and Fitch, all warning of a possible default...
Gateway Re 2026-2 a Testament to Transparency and Performance of SageSure’s Platform: CEO
SageSure successfully issued the $175 million Gateway Re Series 2026‑2 catastrophe bond, meeting its target size while pricing Class A notes below initial guidance and Class B notes within range. The multi‑peril bond provides reinsurance for Auros Reciprocal and Interboro across storm, earthquake, wildfire, severe...
SEC Reaches Partial Settlement with Consultant of Failed Bond-Financed Arizona Sports Park
The SEC reached a partial settlement with Jeffrey Puzzullo, the construction consultant who helped fabricate financial projections for the $284 million Legacy Cares municipal bond offering in Arizona. Puzzullo pleaded guilty to conspiracy, securities fraud, wire fraud and aggravated identity theft,...
California School Bonds Retain Resilience Despite Headwinds
California school‑district municipal bonds remain a solid risk‑adjusted investment despite mounting headwinds such as declining enrollment and exposure to child‑sex‑abuse lawsuits. Strong state backing via Proposition 98 and first‑lien tax claims underpin the sector’s credit quality, with most districts holding A‑rating...
BlackRock Launches Flexible Income Bond iShares ETF on London Stock Exchange
BlackRock introduced the iShares € Flexible Income Bond Active UCITS ETF on the London Stock Exchange on 6 March 2026. The GBP‑hedged, accumulating share class carries a 0.42% expense ratio and gives investors exposure to a globally diversified bond portfolio. The fund can allocate...
Eclipse Re Issues Its First Private Cat Bond of the Year, $100m Series 2026-1A
Eclipse Re Ltd., a Bermuda‑based special purpose insurer, issued its first private catastrophe bond of 2026 – a $100 million Series 2026‑1A note listed on the Bermuda Stock Exchange. The bond, likely covering property catastrophe reinsurance or retrocession, matures on December 31 2027, making...
Agency Market Phones It In, Rate Refis Slow in February
Agency mortgage market showed tepid activity in February, with rate‑refinance volumes remaining sluggish. GSE credit‑risk‑transfer (CRT) issuance fell to its lowest level since 2013, while overall loan originations modestly increased across most product lines. Delinquency rates at large servicers rose...
Nexstar Moves Forward With TEGNA Tender Offer Following FCC Visit
Nexstar Media Group announced a cash tender offer to repurchase its 5% senior notes due 2029, a move directly tied to the pending acquisition of TEGNA. The offer, managed by BofA Securities, J.P. Morgan, and Goldman Sachs, will remain open...
Loomis Sayles Core Plus Full Discretion: A Differentiated Approach
Loomis Sayles introduced its Core Plus Full Discretion strategy as a response to the 2022 yield reset that ended a long low‑rate era. The approach diverges from traditional domestic core fixed‑income by employing active, discretionary management to capture income and total‑return opportunities....
States Struggle to Get a Grip on Growth of Prediction Markets
Prediction‑market trading is booming, with 2025 activity surpassing $44 billion and state officials racing to regulate the sector. The CFTC, under Michael Selig, argues federal jurisdiction, while dozens of states file lawsuits claiming gambling violations. Florida’s bond finance chief Ben Watkins...
Navigating Euro Credit: Fundamentals, Valuations & Technicals
Pim van Mourik Broekman outlines the Euro credit market’s current landscape, highlighting overweight financials and utilities versus underweight industrials. He warns that geopolitical tensions and divergent central‑bank policies—particularly the ECB’s dovish stance against the Fed’s tightening—could steepen the yield curve. Valuations...
Aptiv Subsidiaries Begin $1.5bn Notes Offering for EDS Spin-Off
Aptiv’s subsidiaries have launched a $1.5 bn private senior notes offering tied to the planned spin‑off of its Electrical Distribution Systems (EDS) unit. The notes, due in 2031 and 2034, will be held in escrow until the separation is finalized. In...
India Bonds Firm on RBI Buying Hopes, Stronger Rupee
Indian government bonds rallied on Thursday after a record ₹202 billion (≈$2.19 billion) of bonds were net‑bought by the RBI and institutional investors on Wednesday. The 10‑year benchmark yield steadied around 6.66%, reversing a brief rise, while the rupee strengthened to ₹91.61...
Bond Traders See Increasing Chance Of No Fed Cuts This Year
Bond options traders are increasingly betting the Federal Reserve will not cut rates this year. The probability of a no‑cut scenario rose to 25% by Wednesday, up from 17% before the Iran‑Israel conflict escalated. Higher oil prices from the Middle‑East...
Corporates Pivot to Banks as Primary Funding Source Amid Bond Market Volatility
Corporate bond issuance in India fell more than 20% year‑on‑year in February 2026, marking the weakest three‑year level. Meanwhile, banks reclaimed dominance, with their share of total commercial‑sector funding rising to about 63% in FY26, up from 51% a year...
CLO-and-ABS-Trends-From-SFVegas
At the annual SFVegas conference, industry leaders examined the latest CLO and ABS market dynamics. Panelists highlighted a rebound in fourth‑quarter CLO issuance, driven by a wave of resets and expanding private‑credit activity. Deutsche Bank warned that CLO equity will...
Mortgage Rates Dipped Below 6% in February Amid Treasury Rally
Mortgage rates slipped further in February, with the 30‑year fixed‑rate mortgage averaging 6.05% and briefly dipping below the 6% mark, while the 15‑year rate fell to 5.43%. The 10‑year Treasury yield held near 4.18% for most of the month before...
California Trial Set in Rate-Rigging VRDO Case Against Banks
A California judge set a June 8 trial for a False Claims Act case accusing major Wall Street banks of conspiring to rig interest rates on variable‑rate demand bonds (VRDOs). The lawsuit, filed by municipal advisor Johan Rosenberg on behalf of...
XFLT: No, 20% Yield Is Not A Signal To Buy
Roberts Berzins warns that XAI Octagon Floating Rate & Alternative Income Trust (XFLT) remains a high‑risk vehicle despite a headline 20.9% yield. The trust’s portfolio is dominated by ultra‑high‑risk CLO equity and private‑credit positions, which have suffered repeated dividend cuts and...
Fidelity Total Bond ETF Q4 2025 Commentary
Fidelity Total Bond ETF delivered a 7.58% NAV return for 2025, edging the Bloomberg U.S. Aggregate Bond Index’s 7.30% performance. The Federal Reserve’s additional rate cuts in October and December lowered the target range to 3.5%‑3.75%, supporting bond prices. The...
Andover Companies Aims to Upsize New Locke Tavern Re Cat Bond to as Much as $300m
Andover Companies, a long‑standing mutual insurer in the Northeast, is seeking to upsize its upcoming Locke Tavern Re cat‑bond to between $250 million and $300 million. The new Series 2026‑1 issuance will feature two tranches—Class A and Class B—each expanded to $125‑150 million, with price guidance...
Europe Bonds Extend Declines on Inflation Risk From Energy Spike
European sovereign bonds slipped for a third consecutive session as surging oil and natural‑gas prices revived inflation concerns. The rally in energy commodities coincided with a U.S. initiative to secure a key Middle‑East shipping lane, which failed to calm markets....
Indonesia’s Rating Outlook Takes Further Blow as Fitch Cuts View
Fitch Ratings lowered Indonesia's credit outlook to negative, citing rising policy uncertainty. The agency kept the long‑term foreign‑currency issuer default rating at BBB, an investment‑grade level. This follows Moody's February decision to downgrade the outlook amid concerns over governance under...
Cat Bond Issuance Price Pressure Flattens Market Yield, Widening Less Pronounced: Plenum
Catastrophe‑bond yields stayed flat in February 2026, ending at 8.91% versus 8.87% in January. Primary issuances were priced roughly 30% lower than recent historical levels, generating price pressure that muted the expected seasonal spread widening after the hurricane season. Strong...
Beazley CEO on Cyber ILS: Next Step Is Securitisation, Transformation, ILS Fund Launch in 2026
Beazley’s CEO Adrian Cox announced that the insurer will move beyond issuing cyber catastrophe bonds to full‑scale securitisation and transformation of cyber risks. A dedicated cyber insurance‑linked securities (ILS) fund is slated for launch in 2026, built on the company’s...