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Despite the outperformance this week, and while the asset class had "a stellar December, which rounded out a very solid year," Barclays PLC strategists said the high-grade muni market has become "quite rich."
January 5 -
The muni market enters this year from a relative position of strength, said Jeff Lipton, managing director and head of municipal research and strategy at Oppenheimer.
January 4 -
This year has favorable potential for 1Q activity, noting an unusually large scheduled reinvestment potential in January and February, including $19 billion of maturities plus calls in January and $24.9 billion in February, noted MMA's Matt Fabian.
January 3 -
"Buyers went all in on revenue-sector names, with that category earning 6.8% and beating out GOs by 127 basis points," said FHN Financial's Kim Olsan. "Sub-sectors within the revenue category pointed to a risk-on theme into year-end."
January 2 -
This performance is a dramatic rebound from 2022's losses.
December 29 -
LSEG Lipper reported Thursday that investors pulled $463.7 million from muni mutual funds for the week ending Wednesday after inflows of $147 million the week prior.
December 28 -
Late-month volumes are "waning as it appears the year's tax-loss harvesting was accomplished leading up to the holiday period," said Kim Olsan, senior vice president of municipal bond trading at FHN Financial.
December 27 -
Cooper Howard, director and fixed income strategist for the Charles Schwab Center for Financial Research, shares his thoughts on the intermediate duration with Investors & Investing reporter Christine Albano
December 27 -
Munis' strong performance from November continued into December, said Miguel Laranjeiro, a portfolio manager at abrdn.
December 26 -
The year is ending on a strong note, said Joshua Perry, a partner, portfolio manager and municipal credit analyst at Brown Advisory.
December 22