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The pandemic was strikingly different than Sept. 11, financial meltdowns and other disasters, according to Robert Mujica.
July 29 -
Low ratios, low yields and massive demand are leading to a market that is mostly on its own. Refinitiv Lipper reported $1.7 billion of inflows.
July 22 -
Municipal triple-A benchmarks were pushed to lower yields by one to three basis points across the curve, with the bigger moves out long, but still vastly underperformed the 10-plus basis point moves in UST.
July 19 -
Supply, however, is still less than the massive amounts of cash on hand. Bond Buyer data shows 30-day visible supply at $12.53 billion.
July 16 -
Fund inflows are a demand component unlikely to slow during the heavy reinvestment season, keeping the yield environment squarely in issuers' favor.
July 8 -
U.S. Treasury 10- and 30-year yields hit February lows. Large blocks of high-grades in secondary trading led triple-A benchmarks to lower yields by two to four basis points across the curve.
July 6 -
With better-than-expected payrolls, economists still caution full recovery is a ways away. Muni participants are closely following how the Fed's action — or inaction — will affect the municipal market going forward.
July 2 -
The broader market awaits Friday’s nonfarm payrolls report, but Thursday brought some helpful labor news — unemployment claims dropped to the lowest since before the pandemic-caused economic shutdowns and layoffs plunged in June.
July 1 -
Gilt-edged munis fell as much as two basis points Wednesday as the month ended and the first half stats were put into the record books.
June 30 -
The Board of Elections acknowledged a major error in Tuesday's update. Outgoing Mayor Bill de Blasio and the City Council, meanwhile, are finalizing a $98.7 billion FY22 budget.
June 30