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Late summer is "rarely a good time for our asset class," Barclays strategists said, noting the municipal investment grade index lost money in August three years in a row, and 2023 seems to follow this trend.
August 4 -
The 1998 Master Settlement Agreement from the Big Tobacco companies offers a template, but experts say the structure of the opioid settlement differs in key ways when it comes to state and local governments spending the money.
August 4 -
Municipal bond mutual fund saw outflows return with Refinitiv Lipper reporting investors pulling $989.852 billion from funds for the week ending Wednesday, led by ETFs and long-end funds.
August 3 -
J.P. Morgan held a one-day retail order for $1.65 billion of revenue bonds from the Dormitory Authority of the State of New York, while Minnesota sold $1.02 billion of GOs in the competitive market in five deals.
August 1 -
This week kicks off a flip of calendar to the final month of the summer reinvestment season and one of the larger new-issue calendars of the year.
July 31 -
For the coming week, investors will be greeted with a larger new-issue calendar led by large New York and Texas ISD issuers, along with gilt-edged Minnesota selling competitively.
July 28 -
Municipal bond mutual fund saw inflows with Refinitiv Lipper on Thursday reporting investors added $552.219 million to funds for the week ending Wednesday following $1.040 billion of outflows the previous week.
July 27 -
The Investment Company Institute reported investors added $453 million to municipal bond mutual funds in the week ending July 19, after $111 million of inflows the previous week.
July 26 -
The offered side "has continued to pack the primary market with value to manage their (and the market's) potential downside if disruption did occur; this also helps the context for muni buyers headed into the Fed," said Matt Fabian, partner at Municipal Market Analytics.
July 25 -
"Longer-dated bonds look attractive, as investors are locking in long-term rates before the expected decline in 2024," while "a tremendous amount of money is also invested in the short end of the curve," Nuveen strategists said.
July 24