Jessica Lerner is a senior reporter and buy-side specialist 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 at two Connecticut newspapers. 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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The 75 basis point hike, prompted partly by hotter-than-expected inflation data, is the largest since 1994.
June 15 -
The market veteran with more than 30 years of experience will lead the origination of municipal debt on the firm’s blockchain platform.
June 15 -
Triple-A yield curves rose five to eight basis points. Volatility somewhat eased Tuesday as investors took pause ahead of the Federal Open Market Committee meeting.
June 14 -
The 25-basis-point move to higher yields is the largest one-day change in triple-As since March 2020 when COVID began roiling markets. Munis could not ignore a continued selloff in UST led by inflation and recession concerns.
June 13 -
Ahead of the FOMC meeting, municipal issuers pull back. Investors will be greeted Monday $2.880 billion of new-issue supply.
June 10 -
More firms are revising issuance projections downward due to lower refunding and taxable volumes. Many participants say it is unlikely the market will hit issuance records reached in 2021 and 2020.
June 10 -
Refinitiv Lipper reported $2.094 billion of outflows, reversing the $1.216 billion of inflows from the mutual fund complex.
June 9 -
The Investment Company Institute reported investors added $1.090 billion from muni bond mutual funds in the week ending June 1, up from $4.367 billion of outflows in the previous week.
June 8 -
Positive momentum and supply scarcity are themes for the near future, which should bode well for the market.
June 7 -
The selloff in Treasuries and the continued strength of municipals have done their part to richen muni-UST ratios.
June 6 -
Investors will be greeted Monday with an increase in supply with the new-issue calendar estimated at $6.488 billion, led by $1 billion-plus of GOs from Maryland in the competitive market.
June 3 -
High-yield raked in the majority of the flows helped by Nuveen reopening two of its high-yield funds to new investors. Participants remain cautious as macroeconomic effects still hang over the market.
June 2 -
Municipals posted gains for the first time in 2022 in May, outperforming U.S. Treasuries on the month. The Bloomberg Muni Index posted a 1.49% return in May bringing losses down to 7.47% year to date.
June 1 -
June redemptions will be the highest of the year at $50.6 billion. New-issue supply — 30-day visible is currently at $15.5 billion — is unlikely to keep up.
May 31 -
Total May volume was $31.167 billion in 750 deals versus $35.358 billion in 1,295 issues a year earlier. In a continuing trend, new-money issuance was up 14.2% in May year-over-year.
May 31 -
Investors will be greeted Tuesday with a decrease in supply with the new-issue calendar estimated at $2.691 billion in $1.786 billion of negotiated deals and $904.9 million of competitive loans.
May 26 -
Municipals improved for the fifth session in a row with 10- and 30-year triple-A yields falling 30 basis points since Thursday. Connecticut priced $1 billion-plus of GOs and saw yields lowered in a repricing.
May 25 -
Several major technicals are beginning to improve in the muni market, said Burt Mulford, portfolio co-manager of fixed and strategic income at Eagle Asset Management.
May 24 -
Fixed-income markets have had a tough 2022 but municipal bonds have been among the ones that have struggled the most.
May 23 -
Given the volatility of risk assets is likely to remain high, and the focus on the flight to safety increases, all fixed-income assets could benefit as a result, including municipals, Barclays strategists say.
May 20
