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 primary, meanwhile, digested a massive $1.12 billion bond offering from New York Power Authority. The entire deal was structured to mature later than 2045 and a good portion of it was designated green bonds.
By Lynne FunkApril 29 -
The market isn't facing 50-basis-point swings, but its footing is still off as participants grapple with the long-term effects of the pandemic. New deals are getting pulled and New York Power is about to issue bonds maturing in 2060.
April 28 -
Rate volatility is still evident on the buy side of the municipal market as bid wanted lists reflect redemptions or portfolio restructuring by investors, analysts said.
By Lynne FunkApril 24 -
The historic nature of how ratings for municipal issuers play out in times of severe volatility is under scrutiny from various market participants.
By Kyle GlazierApril 23 -
The secondary market took a backseat to the primary Thursday with yields holding steady while Lipper reported $833 million of inflows, the first since February 26.
April 16 -
ICI reported nearly $3 billion of outflows, which is foretelling that coronavirus-driven volatility still lingers even if the muni market has rallied by at least 60 basis points since early-April high yields.
By Lynne FunkApril 15 -
Technical and fundamental concerns surrounding credit and supply could present challenges for the market going forward but participants tepidly welcomed signs of stability.
By Lynne FunkApril 14 -
Confidence in the municipal market among participants has been boosted by the Fed purchase program, but some expect that if equities dive amid more coronavirus fears or re-test March lows, munis could be rattled once again.
April 13 -
By trading electronically — the international standard — and providing regulatory reporting support as a result, the firm said it broadens the ability for foreign investors to buy munis.
By Lynne FunkApril 13 -
The Fed will help the muni market navigate the short-term pain caused by coronavirus via direct purchases of bonds on the short end. However, the Fed will effectively hand off the responsibility to choose winners and losers to state officials, a move the market generally greeted positively.
By Lynne FunkApril 9