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Nuveen's marquee fund has seen the worst performance among the largest high-yield funds so far this year.
December 11 -
The new-issue calendar comes in just over $3 billion, of which is $847 million of state personal income tax revenue bonds from the Empire State Development in three competitive sales.
December 8 -
LSEG Lipper reported Thursday that investors pulled $144.5 million from muni mutual funds for the week ending Wednesday after outflows of $58.9 million the week prior.
December 7 -
Municipal mutual fund losses continued last week as the Investment Company Institute Wednesday reported investors pulled $475 million from the funds in the week ending Nov. 29 after $97 million of outflows the previous week.
December 6 -
"This week's new issue calendar should be well received," said Anders S. Persson, Nuveen's chief investment officer for global fixed income, and Daniel J. Close, Nuveen's head of municipals.
December 5 -
This week's $9.4 billion calendar "should easily be absorbed as it is set to be the last full primary calendar of the year, given the Fed meeting the following week and then Christmas and New Year's holidays," Birch Creek Capital strategists said in a weekly report.
December 4 -
Pennsylvania leads the new-issue calendar with $2.1 billion of GOs in four series via the competitive market while the New York City TFA will bring another $1.4 billion of exempts and taxables.
December 1 -
Triple-A yields have fallen up to 95 basis points on the month, supply is up 7.8% year-over-year for November and the month is posting positive returns, which has, in turn, led to well over 3.50% returns year-to-date.
November 30 -
The continued drop in yields has been "buoyed by a broad rate rally and intra-market fundamentals that simply have created more buyers than sellers," noted Kim Olsan, senior vice president of municipal bond trading at FHN Financial.
November 29 -
While the muni market faces some headwinds, such as rich relative yields, near-term returns "are likely to be favorable for munis," said Cooper Howard, a fixed-income strategist at Charles Schwab.
November 28