Chip Barnett

Municipal bond funds reported inflows for the second week in a row, according to Lipper data released on Thursday. Weekly reporting funds experienced $520.807 million of inflows in the week ended Oct. 14, after inflows of $714.012 million in the previous week, Lipper said.

Even as funding ratios for U.S. state pensions stabilize, state and local government workers are retiring at a higher rate than new employees are being hired and this is putting additional pressure on their pension systems, Fitch Ratings said in a report released on Thursday.

Richard Raphael, Managing Director and head of U.S. Public Finance at Fitch Ratings, will retire from the firm Oct. 30 after almost 27 years. Jessalynn Moro has been named to succeed him. Laura Porter takes over from Moro as head of the local government team and will also remain head of the state ratings group.

Interactive Data announced on Tuesday the launch of its Liquidity Indicators Service for municipal and corporate bonds. The service will let subscribers access a series of security- and portfolio-level “Liquidity Indicators,” which are aimed at helping companies manage liquidity risk in any type of economic cycle, the company said.

Prices of top-rated municipal bonds were stronger at mid-session, traders said, with yields on some maturities weakening by as much as three basis points. In the primary, traders saw some new deals from issuers in California and Washington state hit the screens.

Chicago Mayor Rahm Emanuel brought the case for a budget proposal that hikes property taxes to fund police and firefighter pensions before the municipal bond market on Monday. Speaking in Manhattan to the Municipal Forum of New York, Emanuel said that the only alternative to his budget is to make massive cuts in the city’s workforce and services.

Prices of top-quality municipal bonds finished stronger on Monday, according to traders, with yields on some maturities weakening by as much as three basis points. Traders were eyeing the week's hefty new supply, which began coming to market on Monday.

Prices of top-quality municipal bonds were stronger at late morning dealings, according to traders with yields on some maturities weakening by as much as two basis points. Traders were eyeing the week’s hefty new supply, which began coming to market on Monday.

Municipal bond funds reported inflows for the first time in four weeks, according to Lipper data released on Thursday. Weekly reporting funds experienced $231.252 million of inflows in the week ended Sept. 23, after outflows of $411.069 million in the previous week, Lipper reported.

Prices of top-rated municipal bonds were stronger at mid-session, according to traders, with yields on some maturities weakening by as much as four basis points.

Prices of top-rated municipal bonds were stronger in early trading, according to traders, with yields on some maturities weakening by as much as three basis points.

Prices of top-quality municipal bonds were steady at mid-session, traders said, as bond dealings were very slow due to the Jewish high holy day of Yom Kippur.

Wasmer, Schroeder & Co. will be opening an office in New York City next month, the firm announced on Wednesday. Matthew J. Kuss has been named as a Managing Director on the firm’s relationship management team and he will work out of the new office starting in October.

Municipal bond funds saw outflows for the fourth straight week, according to Lipper data released on Thursday. Weekly reporting funds experienced $411.069 million of outflows in the week ended Sept. 16, after seeing outflows of $95.986 million in the previous week, Lipper reported.

Richard “Rick” Bellinger died in Suffern, N.Y. on Sept. 10, 2015. He was 65. Bellinger worked at Lehman Brothers for more than 30 years and reached the level of Senior Managing Director at the firm. He was an accomplished municipal bond broker who was well known for his fairness and integrity.

Siebert Brandford Shank continued its hiring spree and announced on Friday that it named Wei-Li Pai as National Head of its Quantitative Solutions Group and Philip Wasserman as a Senior Vice President. Both Pai and Wasserman will work out of Siebert’s New York City office.

Municipal bond funds again saw outflows in the latest week, according to Lipper data released on Thursday. Weekly reporting funds experienced $95.986 million of outflows in the week ended Sept. 9, after seeing outflows of $586.481 million in the previous week, Lipper reported.

Fitch Ratings released a draft on Thursday detailing changes to its U.S. tax-supported bond rating criteria. The rating agency said it expects less than 10% of the ratings covered would be affected.

Siebert Brandford Shank has hired Rasheia R. Johnson to head its Philadelphia office. She will hold the title of Senior Vice President.

Prices of top-shelf municipal bonds closed out the week unchanged to stronger, traders said, as the market moved into holiday mode on Friday after the release of the August employment report.