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"The market seems to be coalescing around the view that these historically rich ratios can be sustained through February, but that the market technical becomes far less favorable in March and April," said Birch Creek Capital strategists in a report.
January 29 -
BofA expects muni yields to continue to move up and credit spreads to narrow "in a slow and gentle fashion" in February.
January 26 -
The inflows into muni mutual funds mark a reversal from 2022 and 2023.
January 26 -
LSEG Lipper reported Thursday that investors added $210.6 million to municipal bond mutual funds for the week ending Wednesday — the third consecutive week — after inflows of $898 million the week prior.
January 25 -
As ridership remains low, investors are closely watching for new funding streams and credits like the MTA's planned congestion tax-backed bonds.
January 25 -
Despite fixed-income seeing losses this month, Jeff Lipton, managing director of credit research at Oppenheimer, believes "a performance sea change is nearing."
January 24 -
After the year-end rally, "2024 bond investors have been reluctant buyers, prices creeping lower perhaps until the data and the Fed's next steps are more clear," said Matt Fabian, partner at Municipal Market Analytics.
January 23 -
This week's heavy new-issue calendar of tax-exempt supply "could lead to a modest cheapening of ratios," said Vikram Rai, head of municipal markets strategy at Wells Fargo.
January 22 -
Growing new-issue supply is "adding to bidders' 'wait-and-see' mentality with a variety of credits coming to market at favorable spreads," said FHN Financial's Kim Olsan. Next week's calendar hits $8.4 billion.
January 19 -
Muni yields rose up to eight basis points, depending on the scale, while UST yields rose up to six basis points at 30 years.
January 18