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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The January employment report headline number disappointed while stimulus news lifted equities and U.S. Treasuries rose on both counts. Municipals ignored those moves ahead of another week of less-than-ample supply.
By Lynne FunkFebruary 5 -
No rate hikes in sight as employment continues to struggle and inflation should rise this year, but not enough to force the Fed to raise rates.
By Lynne FunkFebruary 4 -
Lumesis' president, COO and co-founder Tim Stevens talks about how AI complements the company’s pricing and scales software to predict the shape of a deal-specific municipal yield curve based on the structural and credit-characteristics and to use that predicted shape to fill-in portions of a yield curve that cannot be built from traditional means. Lynne Funk hosts. (35 minutes).
By Lynne FunkFebruary 4 -
ICI reports a third week of $3-plus billion of inflows. Couponing is becoming as much a factor in inquiry as credit and issuers move to lower coupons in both competitive and negotiated deals.
By Lynne FunkFebruary 3 -
Rich ratios focus buyers' eyes on a primary market that simply doesn't have enough supply to keep up with demand.
By Lynne FunkFebruary 2 -
High-yield continues to be sought after as high-grade paper is yielding about 0.70% in 10 years and 1.40% or lower in 30 years and credit spreads continue to tighten in nearly every sector. Ratios are near 20-year record lows.
By Lynne FunkFebruary 1 -
It is most certainly an issuers' market as rates are low, credit spreads continue to tighten, money pours into municipal bond mutual funds at record levels and a net negative supply of more than $11 billion.
By Lynne FunkJanuary 29 -
Issuance dropped 26.7% in January, tax-exempt issuance fell 32.6% while refundings and taxables saw smaller declines. Part of the drops were due to the typical nature of lighter January issuance but also issuer anticipation of potential federal aid to combat the pandemic.
By Lynne FunkJanuary 29 -
Chicago Board of Education bonds were repriced to lower yields by as much as 37 basis points, showing just how far investors will go for any incremental yield.
By Lynne FunkJanuary 28 -
Climate change should be the focus for investors and issuers in 2021 as the need for addressing the problems it causes is more pressing than ever. Sean Kidney, CEO of Climate Bonds Initiative, lays out the case. Lynne Funk hosts. (35 minutes).
By Lynne FunkJanuary 28