Jessica Lerner is a senior markets reporter for Bond Buyer where she writes the daily market column, the monthly volume story and longer trend stories. Prior to this, she worked as a beat reporter in Connecticut at the New Haven Register and the Journal Inquirer. She earned her master's in business and economics reporting from the Craig Newmark Graduate School of Journalism and her bachelor's in journalism and statistics from the University of Connecticut.
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Inflows returned to muni mutual funds as investors added $200.3 million for the week ending Wednesday after $1.474 billion of outflows, according to LSEG Lipper.
April 25 -
"Each party in this deal benefits in some way," said Seema Mohanty, founder of Mohanty Gargiulo.
April 25 -
The "impressive" investor appetite for tax-exempts has been "holding steady all quarter despite expensive valuations, supply surges and periods of low reinvestment demand," said GW&K Investment Management strategists in a report.
April 24 -
Along with UBS' departure from the negotiated underwriting space, various firms have hired talent from both firms to increase their primary and secondary market presence. Many hope for some positive effects in both competition and secondary market liquidity as a result.
April 24 -
"Bifurcated demand reflects the persistent bid strength from [separately managed accounts] and retail investors, not to mention more accounts marshaling cash and liquidity up front while the Fed perspective evolves," said MMA's Matt Fabian.
April 23 -
The new-issue calendar will be a "good test to see if the higher absolute yields can pull buyers off the sidelines or if underwriters need to widen spreads significantly enough to reprice the entire market to clear the deals," according to Birch Creek strategists.
April 22 -
"Folloing recent yield moves, a generic muni index is now down 1% on the month with no real sub-sector showing much deviation from that result," said Kim Olsan, senior vice president of trading at FHN Financial.
April 18 -
Despite higher yields, muni to UST ratios remain rich. Ratios look "progressively richer" moving into the five- to 10-year part on the curve, with the 10-year spot "still far more attractive in taxables versus tax-exempts," J.P. Morgan said.
April 17 -
"April has been one of the worst-performing months over the past five years, which we believe warrants continued caution," BlackRock strategists said.
April 16 -
The firm said Saporito's hiring is among several other additions made to beef up Wells Fargo's commitment to munis.
April 16
