Bond Buyer Indexes Are Narrowly Mixed
The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, rose two basis points to 3.90% from 3.88% in the previous week.
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Tennessee's general obligation bonds got a boost to AAA Thursday by S&P Global Ratings, which cited the state’s sound operations and improving economy.  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 »
Dana Lach has returned to Foley & Lardner’s healthcare finance, public finance and finance and financial institutions practices, the law firm announced on Thursday. She will be working out of the firm’s Milwaukee office.  more »
Top-rated municipal bonds finished steady to weaker in quiet activity on Thursday, traders said, as the primary market wound down in the last full trading session of the week. The U.S. bond markets will close early on Friday ahead of Memorial Day. Markets will remain closed on Monday before trading resumes on Tuesday.  more »

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.

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