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Issuers have increased their debt sale in recent weeks, as issuance has come in above $70 billion year-to-date, according to LSEG data
March 11 -
Market participants said it is yet to be seen whether issuers will pull back their BABs refundings due to concerns after several bondholders sent a letter to the trustee on a Regents of the University of California deal, saying it was "prohibited" from executing the redemption.
March 11 -
High-yield and taxable munis continue to outperform, supply grows but concentrates in larger deals led by $3 billion of state personal income tax revenue bonds from the Dormitory Authority of the State of New York next week.
March 8 -
The market is being led more by supply and demand than ratios or even rates. As ratios sit at extremely tight levels, there are buyers engaging at these levels, but large amounts of cash continue to sit on the sidelines.
March 7 -
Costanzo is only the fourth woman to lead a municipal banking division. Huntington has hired Citi's entire Midwest public finance banking group, and Costanzo said the firm intends to further grow its footprint in the municipal space.
March 7 -
Cabrera Capital Markets is welcoming three new public finance hires who are joining the firm from UBS: Shawn Dralle, Shawnell Holman and Chris Bergstrom.
March 7 -
It was a good day for munis with larger deals clearing the primary and secondary trading showing a more constructive tone with triple-A yields falling a few basis points amid a stronger session for all markets.
March 6 -
Harvard and Princeton coming to market is a "huge sign of confidence," said Clare Pickering, a Barclays strategist.
March 6 -
Large deals were repriced to lower yields while the secondary market was lightly traded, leading to little changed triple-A yield curves and underperformance to Treasury market gains. Despite a growing calendar, the supply demand imbalance remains with much cash on the sidelines.
March 5 -
The rating agency cited the university's structural budget imbalance and management turnover among factors that drove the outlook revision to negative from stable.
March 5