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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Outflows continued, with Refinitiv Lipper reporting investors shed $1.503 billion from municipal bond mutual funds in the week, following outflows of $2.136 billion in the previous week. High-yield saw small inflows.
March 24 -
More outflows from municipal bond mutual funds were reported as bid lists surpass $1 billion 22 times in 2022.
March 23 -
For investors who want a customized portfolio and a greater ability to control taxable events, SMAs may be the product they're searching for.
March 23 -
The triple-A 10-year yield is above 2% on all scales, the highest since March 2020.
March 22 -
Assured Guaranty Municipal Corp. and Assured Guaranty Corp. both resolved their exposure to its insured Puerto Rico debts leading to the upgrade to A1.
March 22 -
Muni performance has been strong as of late, and spreads have actually corrected after a month of gradual widening.
March 21 -
Next week's potential volume is slated to be $7.7 billion. The largest deal of the week comes from New York City with $891 million of tax-exempt general obligation bonds. Recent New York paper traded up Friday.
March 18 -
Outflows continued, rising significantly in the latest week, with Refinitiv Lipper reporting $2.136 billion coming out of municipal bond mutual funds, following outflows of $661.675 billion in the previous week.
March 17 -
The Investment Company Institute on Wednesday reported $2.258 billion of outflows in the week ending March 9, down from $3.502 billion of outflows in the previous week.
March 16 -
Bond investors are understandably cautious in response to recent market volatility and ahead of what is expected to be a Fed rate hike Wednesday, participants say.
March 15 -
The market is being driven by the prospect of higher long-term inflation and the potential that the Federal Reserve may have to raise rates further than expected.
March 14 -
DASNY leads the calendar with $2.3 billion of exempt personal income tax bonds and $662.32 million of taxables. Potential volume is slated to be $5.11 billion, with $4.392 billion of negotiated deals and $718.1 million of competitive loans.
March 11 -
Outflows continue but dropped significantly in the latest week with Refinitiv Lipper reporting $662 million of outflows from municipal bond mutual funds following $2.823 billion the week prior.
March 10 -
The Investment Company Institute on Wednesday reported another round of large outflows, this week at $3.502 billion, up from $2.647 billion of outflows in the previous week.
March 9 -
Secondary trading showed weaker prints, moving triple-A yields higher by three to seven basis points, outperforming larger losses in UST. California priced $2.2 billion of GOs for retail.
March 8 -
As municipals continue to underperform the moves in U.S. Treasuries, current ratios are attractive and present a buying opportunity.
March 7 -
Market volatility has risen significantly, particularly in the last several weeks, with daily Treasury yield swings of 10 basis points or more becoming the norm with municipals struggling to stabilize.
March 4 -
ETFs pulled in just more than $2 billion in February while muni mutual funds saw $8.5 billion of outflows.
March 4 -
Ongoing turmoil in the Ukraine is roiling markets, municipals included. Refinitiv Lipper reported more outflows, with high-yield seeing $818.218 million pulled out in the latest week.
March 3 -
In a Bond Buyer survey, 57% of participants believe issuance will be less than $475 billion. Additionally, 47% said ESG would have the greatest impact on the public finance industry in 2022.
March 2
