Quantcast
Avoiding Puerto Rico “has been extremely helpful,” said John Miller, co-head of fixed-income at Nuveen Asset Management.
The Nuveen High Yield Municipal Bond Fund outperformed its benchmark by 10% over the last five years by keeping duration a bit longer and adding value through security and sector selection.
The Metropolitan Water Reclamation District of Greater Chicago lost a triple-A rating because of the financial woes of governments like Chicago that share its tax base.  more »
Puerto Rico’s inflation-adjusted gross national product declined by 0.6% in 2015 from 2014.  more »
Dealer groups are asking the Municipal Securities Rulemaking Board for more flexibility with exceptions to its rule preventing dealers from buying or selling bonds below issuers’ prescribed minimum denominations.  more »
The advantages a hot municipal bond market creates for issuers were on display this week when the Los Angeles County Metropolitan Transportation Authority priced a refunding deal.  more »
Amount
Issuer
St
Description
Sale Date
Sale Time
$567,960
San Diego PFFA
CA
Revenue bonds
05/25/16
9am ET
$545,135
Pennsylvania Tpk
PA
Revenue bonds
05/24/16
9am ET
$500,00
Connecticut
CT
GOs
05/24/16
9am ET
$348,315
Chicago
IL
Revenue bonds
05/25/16
9am ET
$340,000
Massachusetts EFA
MA
Revenue bonds
05/24/16
9am ET
Index
Current
Previous
High
Low
Rev. Bond
3.48%
3.48%
5.40%
3.48%
20-Bond
3.26%
3.26%
5.03%
3.26%
11-Bond
2.78%
2.78%
4.75%
2.79%
 
Current
Previous
High*
Low*
BB40 Index
131-27
131-27
132-16
107-01
Average Price
111.20
111.20
111.76
84.90
Yield to Par Call
3.00
3.00
6.35
2.93
Yield to Maturity
3.90
3.90
5.34
3.87

(* for calendar year)

Amount
Issuer
St
Description
Sale Date
Sale Time
$46,085
Moore Co
NC
GOs
05/31/16
11am ET
$19,025
Ann Arbor
MI
Revs
05/31/16
1:30pm ET
$9,285
Needham
MA
BANs
05/31/16
11am ET
$6,770
Needham
MA
GOs
05/31/16
11am ET
$5,720
Scituate
MA
BANs
05/31/16
11am ET


Daniel Berger, Senior Market Strategist at Municipal Market Data, talks about the recent rally in municipal bonds which has brought long-term yields down to record lows. He talks about continuing demand from retail investors in light of the upcoming Summer redemption season and he discusses the allure that the American tax-exempt market has for overseas buyers. He outlines the recent spread compression in quality credits and also looks at some of the market's outliers -- Puerto Rico and Chicago.

Our legislation would preserve money market funds as a source of liquidity and capital for public the infrastructure needs of our citizens.

Upcoming Events

Career Zone

Jobs
Already a subscriber? Log in here
Please note you must now log in with your email address and password.