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The statement offered no surprises, but Fed Chair jerome Powell's refusal to denounce more hawkish scenarios hurt market sentiment.
January 26 -
Triple-A benchmarks were cut two to six basis points across the curve with the largest moves concentrated again on bonds inside 10 years, underperforming Treasuries once again.
January 25 -
Munis are expected to underperform for another few weeks as markets remain volatile and investors reevaluate allocations.
January 24 -
The combination of steady supply, heavy secondary selling and inconsistent demand have moved yields to their highest levels since May 2020.
January 21 -
Refinitiv Lipper reported $238.926 million of outflows, but $182.035 million of inflows to high-yield, reversing last week's outflows. New-issues faced concessions.
January 20 -
The Investment Company Institute reported a large drop of inflows into municipal bond mutual funds at $142 million in the week ending Jan. 12, down from $1.413 billion in the previous week.
January 19 -
The 2-, 5- and 10-year UST is higher than before the pandemic began as investors factor in a rate hike as soon as March.
January 18 -
The largest deal of the week comes from the New York City Transitional Finance Authority with $950 million of exempts and $250 million of taxables.
January 14 -
For investors in the municipal bond market, 2021 proved to be a year of hurdles. This is likely to change, particularly for investors in the municipal bond market.
January 14Cannon Advisors -
The primary led Thursday's firmer tone while Chicago schools faced 10 to 20 bp penalties compared to price talk, signifying investors are being more selective and demanding more in the new higher-yield range.
January 13