| Government Securities Prices | 10-year: 104 26/32 to yield 2.93, down 16/32 30-year: 107 13/32 to yield 3.95, down 15/32 |
|---|---|
| Municipal Bond Index | 116 7/32, unch |
| The Bond Buyer's 30-Day Visible Supply (as of 07/23) | Total: $11.037 billion, up $2.090 billion Competitive: $3.759 billion, down $555.1 million Negotiated: $7.278 billion, up $2.645 billion |
| The MuniCenter List | Offering total: $7.816 billion, down $552.2 billion |
A combination of a "stronger-than-expected economy, higher Treasury rates, robust supply, and rich valuations resulting in choppy markets" have made the trading environment in H124 "quite difficult," according to Barclays.
Two rating agencies upgraded Los Angeles Unified School District's bond ahead of multi-billion dollar refunding.
The Basel III Endgame proposal to restructure capital holding levels comes under fire.
Friday price talk for the unrated tax-exempt paper was between 11% and 15%.
The board approved that step at its second quarter board meeting held this week.
The Inflation Reduction Act, affordable housing and clean energy were among the topics discussed at Baker Tilly's DevelUP conference in Chicago this week.
