Chip Barnett

Municipals firmed Friday, with yields falling by as much as two basis points, as coronavirus threats grow and a flight-to-safety resumes.

Municipal bonds strengthened Thursday as yields fell by as much as four basis points on AAA curves but coronavirus vaccine rally in stocks slowed and UST, munis regained ground.

John Hallacy, founder of John Hallacy Consulting LLC, and Andrew Coen, Bond Buyer Northeast regional reporter, talk about next week’s $4 billion COVID-19 emergency GO and taxable social bond sale by New Jersey. Chip Barnett moderates the discussion on what it means for the state and whether the issue will become muni bond market benchmarks with an extra appeal to international investors. (15 minutes)

Light primary easily absorbed while secondary trading showed a steadier market as it closes for Veterans Day. Massachusetts announces $1.4 billion of GOs for next week.

Municipal yields rose as much as five basis points on the long end, but the losses were not as pronounced as UST. Light dealer inventories and scarce secondary trading let munis outperform Treasuries.

As the week drew to a close, municipal bond market participants looked ahead to a smaller-than-usual supply slate dominated by revenue bond deals.

To little surprise, the Federal Reserve left interest rates unchanged. Refinitiv Lipper reported tax-exempt muni bond funds lost about $954 million.

Top-rated muni yields fell by as much as 10 basis points on the AAA curves on Wednesday the largest move better for the market since late April, early May. ICI reported $1.2B of muni bond fund inflows.

The only major deal slated on the calendar, the Maine Turnpike Authority, came to market on Tuesday.

Michael Roth, managing partner at Next Street, talks with Chip Barnett about how Black and Brown businesses are doing during the coronavirus pandemic. He looks at what our industry can do to help, from capital delivery to investment; beyond the usual solutions so small businesses and entrepreneurs in communities of color can succeed in an inclusive economy. (22 minutes) For more on this topic, see: Arizent's 'Access Denied' podcast series.

Municipals were weaker in the 10-year range by as much as one basis point on Monday as all eyes fixate on election results.

From feast to famine, ahead of the elections, the new-issue slate dries up while the secondary held steady.

Stanford Ladner of Butler Snow has been listed in the 2020 edition of “New York Metro Super Lawyers."

New Jersey said it expects to issue up to $4.5 billion of tax-exempt and taxable bonds the week of Nov. 18 under the COVID-19 Emergency Bond Act.

The comptroller report said New York City's reserves mitigate the need for bond financing to fund operations as the city has more in reserve funds than pre-Great Recession and Sept. 11-related recession figures.

Taxables march on while ICI reports billions of inflows and secondary trading shows long-end strength.

Municipal bonds were steady to stronger on Tuesday. Taxable issuance continues its record growth, putting overall issuance on pace to be the largest year on record.

Municipals were in a holding pattern ahead of this week's $15.8 billion new-issue slate as issuers pour debt into the market and investors remain cautious ahead of election results.

Municipals held firm Friday as the market gets set for another week of hefty supply. Citi anticipates $550 billion in 2021, led by surge in taxable issuance.

Municipals were little changed on Thursday as the supply surge continued ahead of the U.S. elections.