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U.S. Treasuries saw more losses and municipal to UST ratios fell on the day's moves with the long bond valuation below 100%.
October 6 -
Bids wanteds are on the rise, but a constructive secondary market showed a steady to firmer market in the past two sessions. ICI's latest outflows figure is the highest since June.
October 5 -
Triple-A yields rose more than three-quarters of a point on the front end and nearly half a point out long in September as munis posted 3.84% losses.
September 30 -
For the first three quarters, total issuance sits at $308.440 billion, down from $361.932 billion in 2021. Taxables are down 48.0% to $45.724 billion from $87.979 billion.
September 30 -
In the competitive market Thursday, the New York Urban Development Corp. sold $1.443 billion of tax-exempt personal income tax revenue bonds.
September 29 -
A larger new-issue slate led by large deals from the Texas Water Development Board and state of Illinois took focus away from the secondary.
September 28 -
Retail investors may be moving out of municipal bond mutual funds and into separately managed accounts, largely due to the headline shock of the massive outflows from the funds, participants say.
September 23 -
Munis were little changed while long UST improved and equities ended in the red after the FOMC raised the fed funds rate target 75bps to a range of 3% to 3.25% and members are leaning toward a rate of 4.4% by yearend.
September 21 -
Municipals saw more cheapening on the short end Friday as selling pressure persisted all week.
September 16 -
"Everyone is trying to figure out when the outflow cycle is over," said Craig Brandon, co-director of municipal investments at Eaton Vance.
September 15