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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Without the primary in play and a mostly muted secondary, triple-A yield curves were little changed, coming nowhere near the moves in UST with the 10- and 30-year falling five and six basis points as equities saw their worst day since May.
By Lynne FunkSeptember 20 -
Municipals have been distracted by the robust primary market and that trend will continue next week when another large new-issue calendar greets investors.
By Lynne FunkSeptember 17 -
Several strategists estimate the municipal market will be 50% taxable in five years if a direct-pay bond option makes its way into law.
By Lynne FunkSeptember 17 -
Refinitiv Lipper reported $1.3 billion of inflows and an increase in high-yield flows, marking the 28th consecutive week the fund complex saw inflows.
By Lynne FunkSeptember 16 -
While falling to the lowest amount of inflows since June 2, the total for the year according to ICI at $72 billion, is still on pace to come close to or break the record, $93.2 billion, hit in 2019.
By Lynne FunkSeptember 15 -
Large new issues from California, New York utilities and airport deals were repriced to lower yields and remained the focus for the municipal market, again ignoring a swing by U.S. Treasuries.
By Lynne FunkSeptember 14 -
Market participants welcomed the municipal-related provisions in the reconciliation bill but are hesitant to start making bets on its passage.
By Lynne FunkSeptember 13 -
A larger new-issue calendar greets investors with a lot of cash on hand and strategists expect municipal yields to rise as the calendar builds.
By Lynne FunkSeptember 10 -
The fund focuses on investment-grade state and local government debt funding sustainable development, including affordable housing, green spaces and hospitals.
By Lynne FunkSeptember 10 -
Refinitiv Lipper reported $1.1 billion of inflows into municipal bond mutual funds, with high-yield falling to $144 million. Even with the lower reported inflows, funds still raked in record billions so far in 2021.
By Lynne FunkSeptember 9