Gary Siegel is a journalist with more than 35 years of experience. He started his professional career at the Long Island Journal newspapers based in Long Beach, N.Y., working his way up from reporter to Assistant Managing Editor. Siegel also worked for Prentice-Hall in Paramus, N.J., covering human resources issues. Siegel has been at The Bond Buyer since 1989, currently covering economic indicators and the Federal Reserve system.
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Municipal volume is estimated at $1.13 billion for the opening week of 2022. Persistently strong net supply challenges will bias credit spreads tighter, credit discipline weaker in the next few years, analysts say.
By Lynne FunkDecember 30 -
Net supply pressure among tax-exempts is expected to worsen in January compared to last year and the move toward richer tax-exempts is unlikely to reverse. "Dealers seem to be acknowledging this looming challenge," MMA notes.
By Lynne FunkDecember 29 -
Investors will also receive $139 billion of interest payments in 2022, about $593 million more than in 2021, according to a report from CreditSights.
December 28 -
Until supply comes, market participants appear to be content to sit back and let the calendar flip to a new year without making any big moves.
By Lynne FunkDecember 27 -
Municipals are sitting out the ups and downs in equities and UST, with $12 million scheduled for the primary in the final week of 2021.
By Lynne FunkDecember 23 -
Tax risks continue to linger as they are preserved as a potential offset for whatever level of spending all 50 Democratic senators can agree to, but potential approval of the legislation remains a question mark.
By Lynne FunkDecember 22 -
The Build Back Better in its current form essentially has been killed by Sen. Joe Manchin, likely limiting the potential for tax hikes in the coming year.
By Lynne FunkDecember 20 -
Despite outside pressures, municipal fundamentals are strong with improving credit pictures, issuers flush with federal cash and the ongoing supply-demand imbalance.
By Lynne FunkDecember 16 -
It marked the 40th straight week of positive flows into the long-term funds and brought the total inflows for this year near $82 billion. Exchanged-traded funds saw $168M of inflows.
By Lynne FunkDecember 15 -
Triple-A yield curves were unchanged on the day and mostly have not budged but a basis point in spots since the end of November.
By Lynne FunkDecember 14