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Supply is beginning to roll in and the primary action on Wednesday provided more direction. ICI reports $1.4 billion of inflows.
January 12 -
Federal Reserve Board Chair Jerome Powell would not commit to timing for liftoff, stressing decisions would be data-based and the Fed will not allow inflation to become entrenched.
January 11 -
Pressures from inflation concerns and broader rising rates weigh on munis in the second week of 2022.
January 10 -
Munis followed UST weaker while stocks sold off after the employment report, which offered many messages. Analysts believe the bottom line is the Fed will liftoff in March.
January 7 -
The Federal Reserve expects Omicron to fizzle in weeks, and while pandemic-related risks remain, the economy is strong and the Fed needs to address inflation and could liftoff as soon as March, Bullard says.
January 6 -
ICI reported $1.101 billion of inflows into municipal bond mutual funds for the last week of 2021. Refinitiv Lipper figures on Thursday may give a sense of investor sentiment for week one of 2022.
January 5 -
The U.S. Treasury selloff caught up to tax-exempts with two to three basis point cuts to scales, but munis still outperform.
January 4 -
Municipals triple-A benchmarks continue the trend of ignoring other markets to start 2022. The new year will likely usher in slower growth and continued inflationary pressures, analysts said.
January 3 -
Municipal volume is estimated at $1.13 billion for the opening week of 2022. Persistently strong net supply challenges will bias credit spreads tighter, credit discipline weaker in the next few years, analysts say.
December 30 -
Net supply pressure among tax-exempts is expected to worsen in January compared to last year and the move toward richer tax-exempts is unlikely to reverse. "Dealers seem to be acknowledging this looming challenge," MMA notes.
December 29