Christine Albano is a reporter in the Investor’s & Investing beat, which she has covered for the past two decades. She has a wide range of buy side sources in the municipal market and has covered trends affecting retail investors, institutions, municipal mutual funds, tax-exempt money market funds, and the high-yield beat. She has also written about some of the industry’s biggest issues, such as historic defaults in Orange County, Calif., Puerto Rico, and Jefferson County, Ala., as well as the collapse of the variable-rate demand market. In addition, she reported on the subsequent 2008 financial crisis, and the death of municipal bond pioneer Jim Lebenthal. She provided next day coverage of the impact on the municipal bond market of the Sept. 11 terrorist attacks on the World Trade Center, and recently interviewed The Vanguard Group Inc. founder, former chief executive officer, and investment guru John C. Bogle about the best investing advice for the municipal market.
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The Investment Company Institute on Wednesday reported $2.533 billion of inflows into municipal bond mutual funds, the highest since February.
June 16 -
Yields on top-quality munis were flat on the AAA scales Friday; yields were seven to nine basis points lower on the week.
June 11 -
Trading showed firmer prints, with Georgia general obligation bonds, Maryland GOs and Los Angeles Department of Water and Power bonds trading up.
June 10 -
The mutual fund company targets more yield and duration opportunities with its Municipal Intermediate Fund, which will invest primarily in investment-grade bonds across municipal sectors.
June 7 -
As most participants await Friday's jobs report, the municipal market Thursday sustained a firm tone as rates remained on a gradual path of decline.
June 3 -
ICI's report marks the 12th consecutive week of inflows bringing the total for 2021 to more than $40 billion. Lower- and non-rated deals saw 20 to 30 basis point bumps in repricings as any paper with yield is massively oversubscribed.
June 2 -
The fundamentals of the muni market have investors stuck in a low-rate environment without much of an alternative. Refinitiv Lipper reported $1.466 billion of inflows into municipal bond mutual funds with $813.8 million into high-yield.
May 27 -
Municipals saw little activity on Monday as the market prepped for the bulk of the week's $7B primary calendar arriving Tuesday and Wednesday.
May 24 -
PNC's Nicholas Falgione was a veteran banker remembered as an innovator among his peers.
May 21 -
Price indexes in the latest New York manufacturing survey came in higher than expected, furthering inflation concerns.
May 17 -
While the pressure was on municipal yields, which rose two to four basis points, the Investment Company Institute reported another week of inflows, with $928 million coming into municipal bond mutual funds and another $285 million into ETFs.
May 12 -
Tighter spreads and richer ratios are likely to continue, particularly as looming tax increases amplify the value of the tax-exemption, but analysts are hesitant to predict how much lower rates can go before investors balk.
May 10 -
Refinitiv Lipper reported $584 million of inflows, $341 million of which went to high-yield, as investors pull back on reinvesting to pay tax bills with the May 17 tax filing deadline looming.
May 6 -
Pennsylvania's competitive GO deal saw its yields fall further from recent trading while the North Texas Tollway Authority benefited from positive credit news on the transportation sector and repriced 25 basis points lower. ICI reported another round of $2-billion-plus inflows.
May 5 -
The municipal market largely ignored the FOMC news that it would hold rates steady. New Jersey was 20 times oversubscribed and ICI reported $2.5 billion of inflows into long-term municipal bond mutual funds.
April 28 -
Data released Tuesday show an improving economy, which continues to stoke fears of impending inflation. Muni investors await New Jersey's $1.57 billion transportation deal.
April 27 -
After swallowing nearly $10 billion of new supply on the week, the market was quiet Friday ahead of the $5.5 billion calendar coming up.
April 23 -
High-grade scales were little changed as ICI reports the sixth week in a row of inflows to the tune of $2.29 billion into municipal bond mutual funds.
April 21 -
The municipal market was steady Monday as the investors gear up for three separate billion-dollar deals heading to market from California, New York, and Connecticut issuers.
April 19 -
Four out of the six economic indicators released on Thursday surpassed expectations, with consumers tapping their savings to quench pent-up demand. U.S. Treasuries made gains but municipals stood on their own in an impressive two-day rally with insatiable demand.
April 15
