Takeaways by Bloomberg AI
- Nuveen has sold major holdings of Chicago’s cash-strapped school district bonds, trading out of debt positions it has held for close to a decade.
- The asset manager’s flagship high-yield fund sold nearly $315 million of its Chicago Board of Education municipal bonds in September, according to data compiled by Bloomberg.
- The trades come as Chicago’s school district is struggling financially, with a $734 million deficit and pressure to make a pension payment to the city, and has tapped credit lines, including drawing down $400 million from agreements with PNC Bank and Bank of America Corp.
Bloomberg Markets
By Shruti Singh
October 17, 2025