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The $7 billion portfolio consists of highly rated, lower-coupon muni debt. It is unlikely to be a single auction and the firm is currently circulating the list on the Street to gauge interest.
April 20 -
The Investment Company Institute reported investors added $229 million to mutual funds in the week ending April 12, after $83 million of outflows the previous week.
April 19 -
Municipal outperformance to UST ended Tuesday as triple-A yields rose 12 to 20 basis points as several new issues began pricing.
April 18 -
Muni yields were cut four to eight basis points, depending on the scale, while UST yields rose seven to nine basis points. Muni outperformance and rich ratios continue.
April 17 -
S&P raised Massachusetts' general obligation long-term credit rating to AA-plus from AA.
April 14 -
For long-term muni bonds, BofA strategists noted that macro market and supply/demand conditions "are dominating the picture, pushing the high-grade muni market to a relatively rich valuation versus Treasuries."
April 14 -
For the week ending Wednesday, outflows intensified as Refinitiv Lipper reported $255.794 million was pulled from municipal bond mutual funds after $91.713 million of outflows the week prior. High-yield saw inflows.
April 13 -
Strong demand in the primary market is leading to the oversubscription of many new issues. Municipals and USTs were better again as macroeconomic concerns pressure equities.
April 12 -
Brian Wynne joins Jefferies as co-head of the municipal syndicate, while Morgan Stanley continues to see turnover in its muni ranks.
April 12 -
The second half of 2023 may see a slowdown, perhaps even a mild recession, said Daniel Close, the newly named head of municipals at Nuveen.
April 11