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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Bids wanteds have been elevated, municipal bond mutual fund outflows large and consistent and the short end of the U.S. Treasury curve continues its march upward, moves that muni investors cannot ignore.
By Lynne FunkSeptember 26 -
A whopping 91% of Bond Buyer California Public Finance Conference survey respondents expect municipal interest rates will end the year higher than current rates and 73% said rates will have the largest impact on the public finance industry in the next two quarters
By Lynne FunkSeptember 14 -
Don't expect much new information to come from Jackson Hole this year analysts say, as the data-dependent FOMC will rely on incoming economic numbers in September to decide the proper size rate hike.
By Lynne FunkAugust 23 -
Losses for August climbed last week, with month-to-date returns in the red at negative 1.40% on the Bloomberg muni index, high-yield seeing 0.99% losses, taxables at 2.01% losses and the impact index losing 1.70%.
By Lynne FunkAugust 22 -
New-issue volume grows to $10.7 billion led by a $2.7 billion taxable Massachusetts ESG deal, $1.35 billion of Oklahoma natural gas taxables, $1.25 billion from the Regents of the University of California and $1.1 billion from New York City.
By Lynne FunkAugust 12 -
Pressure on the short end of the muni curve is being exacerbated by a 3.24% two-year Treasury note, from a correction to floating rate notes and dealer positions.
By Lynne FunkAugust 11 -
The Investment Company Institute reported investors poured in $1.589 billion into muni bond mutual funds in the week ending August 3, the highest level since November.
By Lynne FunkAugust 10 -
Several large new issues priced. Municipal yields were little changed, U.S. Treasuries were weaker on the short end and stocks ended in the red ahead of the much-anticipated July inflation figure.
By Lynne FunkAugust 9 -
Weekly supply is holding below $5 billion, reinvestment needs are still in effect from large redemptions and fund flows are leaning more positive, noted FHN Financial's Kim Olsan.
By Lynne FunkAugust 8 -
With the Fed committed to fighting inflation with aggressive rate hikes, fewer issuers want to take the risk with taxable advance refundings.
By Lynne FunkJuly 27