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Making it a summer Friday, munis were quiet. Participants contemplate why the market underperformed taxables to the degree they did when fundamentals are objectively strong and little has changed since before the FOMC.
June 25 -
Municipal bond issuers in the State of New York accounted for half of the top 10, while issuers from California held two of the top four spots.
April 9 -
The Investment Company Institute reported outflows from municipal bond mutual funds but inflows into exchange-traded funds. The February consumer price index came in as expected, while the core was below expectations, and analysts expect bigger rises ahead.
March 10 -
Munis were stronger across the curve as secondary trading was constructive and bellwether credits moved yields lower.
March 9 -
With the reset in yields in the rear view, valuations — especially relative to Treasury — will likely support continued robust demand.
March 5 -
High-grade deals priced and secondary trading showed bonds exchanging hands at yields higher than triple-A benchmarks in some cases, but a healthy two-way flow was evident, even if there are signals that yields have not yet hit a ceiling.
February 23 -
Muni yields rose another five basis points on the 10- and 30-year, bringing the total cuts to scales to 18 and 17 basis points, respectively, from Tuesday as the asset class moved closer to UST movements after lagging that market since the start of the year.
February 19 -
Munis are likely to lag Treasuries in some fashion once year-end empathy settles in mid-month and ratios become a factor.
December 1 -
After volume in November came in around $19 billion, the lowest since 1999, investors look to December.
November 30 -
The Investment Company Institute reported municipal bond funds saw $2.675 billion of inflows in the latest reporting week.
November 25