Reasons to Fall in Love With Municipal Bonds Right Now. How to Invest.

Nuveen Municipal Credit Opportunities Fund (NMCO) raised ~$113M via a rights offering, issuing ~13.7M shares at $8.25 each. The offering is preliminary, with shares expected to be issued around Oct. 15, 2026. The fund did not disclose NAV impact, deployment of proceeds, or any effect on distribution policy or discount to NAV.

Chevron (CVX) announced senior leadership changes effective January 1, 2027. Mark Nelson will focus on strategy and business development, Eimear Bonner will lead Oil, Products & Gas, Jeff Gustavson will become CFO, and Brent Gros will head New Energies and AI strategy. CEO Mike Wirth praised the new leaders' expertise and commitment.

Ultragenyx Pharmaceutical (NASDAQ: RARE) agreed to sell a rare pediatric disease priority review voucher for $210M, nearly half its cash reserves. The deal, subject to regulatory approval, follows the FDA's August approval of its Genglycos gene therapy. Shares rose 2.97% on the news. Ultragenyx plans to use proceeds to advance rare disease therapies and support profitability. The price is within the range of recent voucher transactions, such as Rocket Pharmaceuticals' $180M deal.

SLB (SLB) secured multi-year energy contracts with Aramco and ExxonMobil, expanding its backlog in onshore and deepwater infrastructure. Analysts project $43.0b revenue and $5.5b earnings by 2029, with potential upside. The company's focus on digital and data center solutions is seen as a driver for higher revenue.

Constellation Energy (CEG) signed a deal with Alphabet's Google to supply 890 MW of nuclear power, highlighting its role in powering AI growth for tech giants. CEG operates outside regulated utilities, offering direct power sales to companies like Microsoft, Meta, and Amazon. Its scale, diverse energy portfolio, and long-term contracts support growth, though its stock remains 25% below 2025 highs.

PG&E proposed to underground nearly 500 miles of power lines on the Central Coast by 2037, part of a $11.4B plan to reduce wildfire risk and improve service. The company estimates $117B in long-term benefits and $6B in customer savings. Residents are divided on the plan's cost-effectiveness.