Lynne Funk is Executive Editor at The Bond Buyer. She leads markets coverage, is The Bond Buyer's Arizent Research Team liaison and contributes to Bond Buyer Conferences, Leaders and podcasts. Lynne previously worked on policy and markets at Municipal Market Analytics and in the Policy and Public Advocacy at the Securities Industry and Financial Markets Association.
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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 -
2022 volume projections are clouded by many uncertainties. What is not murky is that demand for municipals is unlikely to fade.
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 -
U.S. Treasuries saw losses pushing municipal to UST ratios on the 10- and 30-year lower again.
By Lynne FunkDecember 21 -
The board has long maintained that if the pension laws are allowed to stand, the Plan of Adjustment would not be implemented, scuttling the entire bankruptcy deal.
By Lynne FunkDecember 21 -
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