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Paltry supply will force the secondary to handle the rest of 2020; New York City taxable general obligation bonds trade up by nearly 20 basis points on intermediate bonds.
December 18 -
The entire municipal exempt yield curve is seeing consolidation with a 125 basis point spread between one and 30 years, and sub-1% yields are holding firm inside of 15 years.
December 17 -
This was the inaugural issuance under the “No Place Like Home” program, the first large municipal bond program created to invest in homeless housing infrastructure and secured directly by taxes on high-income residents.
December 16 -
ICI reported another $2.3 billion of inflows, new deals continue the march to lower yields and benchmarks rose a basis point seven years and out for the first time since the beginning of December.
December 16 -
Even with COVID-19-related shutdowns — a New York City lockdown may be imminent — issuers are pricing bonds into an extremely low-rate environment.
December 14 -
The LBJ Infrastructure Group, operator of managed lanes on a Dallas highway, will sell $1.2 billion of bonds through a conduit issuer.
December 14 -
Munis firmed Friday, only the second time in December they weren't flat, and more than a few participants are waiting on yields to rise before getting involved, particularly given the rich muni/treasury ratios and low absolute yields.
December 11 -
Bid list volume is trending higher into the end of the year, but its share as measured against overall high demand does not pose much of a threat, analysts say. Refinitiv Lipper reports $992 million of inflows.
December 10 -
COVID-19 brought the primary to a standstill in March and April. The municipal market is now set to eclipse $450 billion of issuance in 2020, a record.
December 10 -
Munis are likely to lag Treasuries in some fashion once year-end empathy settles in mid-month and ratios become a factor.
December 1