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With the reset in yields in the rear view, valuations — especially relative to Treasury — will likely support continued robust demand.
March 5 -
Refinitiv Lipper reported $600 million of outflows from municipal bond mutual funds as the market correction caught up. High-yield funds lost a massive $722 million after $330 million a week prior.
March 4 -
The Beige Book suggests the economy is recovering, with optimism for 6-12 months ahead, while economists don't envision inflation rising enough for the Fed to take action any time soon.
March 3 -
Institutional pricing of New York City and competitive deals from Baltimore and Cambridge, Mass., should help give a sense of where yields are heading, while Ohio offers up GOs for a market that's been little changed for three days after a large sell-off.
March 2 -
The sell-off in the back half of February brought negative 1.59% returns for the month and a negative 0.96% return for the year so far. Taxables and high-yields fared slightly better.
March 1 -
The market took a much-needed breather Friday and U.S. Treasuries pared Thursday's losses to see the 10-year fall 12 basis points to 1.42% and the 30-year 17 basis points to 2.11%. Municipals were steady at 1.14% in 10 years and 1.82% in 30.
February 26 -
Municipal bond mutual funds took notice of rate movements with Refinitiv Lipper reporting $37 million of inflows after 15 weeks of multi-billion inflows, the lowest since Dec. 2. High-yield funds took a big hit with $330 million of outflows.
February 25 -
In a wide-ranging conversation, Manulife Investment Management Global Chief Economist & Global Head of Macroeconomic Strategy Frances Donald discusses the COVID pandemic, inflation, how the markets may be misreading the Fed, why economic indicators may not be telling economists what they need to know, ESG and green spending, and the economy. Gary Siegel hosts. (35 minutes)
February 25 -
Global bond yield move suggests financial markets are much more optimistic about the economy than the Fed.
February 24 -
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