Markets

Midwest bond sale volume peaked in the third quarter of 2024.

Muni prices continue to "show relative resilience" despite a nearly record pace of issuance, said Matt Fabian, a partner at Municipal Market Analytics.

Last week, "there was no meaningful economic data to digest and yields were slightly lower," said Daryl Clements, a portfolio manager at AllianceBernstein.

The unpredictable nature of legislating leads most to holding off on disclosure changes until a bill becomes a law.

Native American Tribes are working their way through Congressional committees looking for support on legislation that would allow the tribes to issue municipal bonds using the same rules as state governments.

Most states and sectors in the region beat their 2023 issuance by wide margins in 2024. 

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.