Markets News from Bond Buyer

Market activity has been somewhat "subdued," and USTs yields have been "relatively well-behaved," though the 10- to 30-year rates have slightly underperformed, moving up three to five basis points, said Barclays strategist Mikhail Foux.

The Trump administration singled out the Las Vegas-Los Angeles bullet train for praise Thursday, the same day the deal priced.

Investors added $546.3 million to municipal bond mutual funds in the week ending Wednesday, following $238.5 million of inflows the prior week, according to LSEG Lipper data.

The bonds are to be sold competitively in April.

White Lake Township, Michigan, is facing legal action on two fronts: one of them related to the hack of its bond deal closing last year, the other a civil suit. 

KBRA raised the airport's outlook to positive last week, citing its improving financial profile and very strong traffic.

The Investment Company Institute reported outflows of $336 million for the week ending Feb. 12, following $852 million of inflows the previous week.

Senior Vice President Tamika Reed will staff a new Montgomery, Alabama, office, and Vice President Narineh Panosian joins the firm in Los Angeles.

Women in Public Finance has announced the 2025 members of its board of directors and plans to expand its offerings as it nears its 30th anniversary.

Municipals were narrowly mixed to start the holiday-shortened week, but the lighter supply should buoy the market.

Most federal lease debt has large bullet maturities that require refinancing, asset sales or a new lease to avoid default.

"This week's rate volatility made muni trading challenging as Treasury rates have been moving up and down abruptly on the back of inflation releases and tariff news," said Barclays strategist Mikhail Foux.

Sweetwater Union High's rocket-fast transformation from an accounting practices bad apple to ratings upgrades and positive outlooks is expected to boost its bond program.

Investors added $238.5 million to municipal bond mutual funds in the week ending Wednesday, following $1.124 billion of inflows the prior week, according to LSEG Lipper data.

The legislation comes as the municipal market industry fends off threats to tax-exempt municipal bonds.

Portfolio managers seem more sanguine about threats to the tax exemption from Congress.

Inflation is front and center this week, with the consumer price index report released on Wednesday and the producer price index on Thursday.

Municipals were cut up to four basis points, depending on the scale, while UST yields rose up to four basis points out long.

BlackRock's move comes as money continues to flow out of muni mutual funds into ETFs and SMAs.

Munis continue to outpace USTs as ratios on the front end continue to richen relative to USTs, Jason Wong said.