The secondary market continues to show lighter trading and steady yields as the last deals of size were priced, and muni mutual funds experienced small inflows. The muni-to-UST ratios have remained mostly stable, with various ratios showing a consistent percentage relative to U.S. Treasuries. Experts note that munis have recovered well compared to USTs in
Bonds
The municipal bond market has been experiencing steady trading in the secondary market, with a strong emphasis on heavy new issuance. While U.S. Treasury yields fell and equities experienced an upward trend, the primary market was particularly active, highlighted by substantial deals and repricings. This article aims to delve into the current landscape of municipal
In a move to further enhance market transparency, the Municipal Securities Rulemaking Board (MSRB) recently announced the addition of the Tradeweb AAA Municipal Curve to its Electronic Municipal Market Access (EMMA) website. This addition marks a significant step in the board’s ongoing efforts to consolidate data on EMMA, offering investors access to crucial market indicators
The municipal market has been experiencing firmness ahead of an expected uptick in issuance next week. This comes as U.S. Treasury yields have seen a slight decline and equities have ended on a mixed note. Barclays strategists Mikhail Foux and Clare Pickering have pointed out that the rally in USTs has been supported by softer
The municipal bond market showed signs of strength on Thursday, with firmer municipals following a robust U.S. Treasury session. Equities, however, closed with mixed results. Triple-A yields experienced a decline of one to five basis points, while USTs saw gains of seven to nine basis points. This movement led to a slight increase in muni
The municipal bond market showed stability on Tuesday as investors anticipated the upcoming Federal Open Market Committee meeting and Consumer Price Index report. This was accompanied by a decline in U.S. Treasury yields and mixed performance in the equity markets towards the end of trading. Vikram Rai, head of municipal markets strategy at Wells Fargo,
The municipal market showed little movement on Monday, outperforming Treasuries, which saw slight losses, as equities ticked up towards the close of the day. Refinitiv Municipal Market Data reported muni-to-Treasury ratios hovering in the mid-60% range for most tenors, indicating relative stability within the market. Despite a recent period of negative performance, spurred by elevated
The Municipal Bond market experienced a surge in issuance in May, surpassing $40 billion for the first time since 2016. The current volume of $43.957 billion in 866 issues represents a significant increase of 46.9% from the previous year. This surge in issuance can be attributed to several factors, including Federal Reserve policy uncertainty, pent-up
The Metropolitan Washington Airports Authority is gearing up to bring $829.4 million of airport system revenue and refunding bonds to the market. This strategic move comes as part of their yearly plan to either take advantage of refunding opportunities or meet new money requirements. Senior Vice President for Finance and CFO, Andrew Rountree, highlighted that
The municipal bond market experienced a significant sell-off, mirroring losses in U.S. Treasuries and equities. This correction comes as the summer reinvestment season approaches, with outflows from municipal bond mutual funds for the second consecutive week. Notably, high-yield bonds continued to perform well amidst the overall market decline. Analysts suggest that the primary reason behind