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The municipal market was hammered Wednesday by the COVID-19 pandemic with a more than quarter point correction in AAA benchmarks, issuers pulling deals off the shelves and more reports of pricing and evaluation confusion.
March 11 -
Uncertainty continues to hang over financial markets due to COVID-19. Stocks rebounded somewhat Tuesday while muni yields rose as much as 16 basis points — Tuesday saw a correction of sorts.
March 10 -
The municipal bond market will see a slew of supply price this week as issuers and investors buffeted by uncertainty, volatility and outright panic. California is selling $2.2 billion of GO bonds, which investors will seek out as a safe haven in these unstable times.
March 9 -
As fear and uncertainty over COVID-19 rapidly grow, it has sent yields for both municipals and Treasuries to never before seen low levels — begging the question if we could see zero or negative yields here in the States?
March 6 -
The world remains on edge about the rapidly spreading COVID-19 and those fears once again have Treasury yields digging down even deeper. COVID-19 fears have now impacted fund flows, as municipals suffers outflows for the first time in 60 weeks.
March 5 -
It was a busy day in the primary, as the markets continue to deal with crosscurrents of COVID-19 and election results.
March 4 -
The Federal Open Market Committee cut the fed funds rate 50 basis points to a range between 1% and 1.25%. The decision to cut rates was unanimous.
March 3 -
The municipal bond market is in for another action-packed week, with above-average issuance and COVID-19 still spreading rapidly.
March 2 -
Taxable bonds and COVID-19 are two of the main catalysts that helped February municipal bond volume ascend to its highest level since at least 1986.
February 28 -
Municipal market technicals were already driving performance and so the strong quality bid has deepened the rally across the curve as the asset class really didn’t need to grab the U.S. Treasuries coattails all that tightly.
February 27