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.
-
The muni market is recovering from tariff turmoil, and is more resilient than the day-to-day volatility suggests, Jamie Doffermyre of Truist Securities said.
May 14 -
Even with Monday's U.S.-China tariff truce and Tuesday's inflation print, the market has felt better over the past several weeks, said Jamie Iselin, managing director and head of municipal fixed income at Neuberger Berman.
May 13 -
Munis yields followed UST yields higher Monday, rising one to four basis points, depending on the scale, but the asset class outperformed USTs.
May 12 -
"In our view, the worst for munis is behind us, at least for now; tax-exempts might continue to outperform, but only to a degree as technicals will remain somewhat challenging," Barclays strategists said.
May 9 -
The recent firmness in the market has been "much appreciated," said Shannon Rinehart, senior portfolio manager of municipal debt at Columbia Threadneedle Investments.
May 8 -
Muni yields remain attractive, said Tom Kozlik, managing director, head of public policy and municipal strategy at HilltopSecurities.
May 7 -
Following the Federal Reserve's meeting this week, where the Fed is expected to hold rates, Chairman Jerome Powell will try to serve up a "nothingburger," said Cooper Howard, a fixed income strategist at Charles Schwab.
May 6 -
Focus was on the primary market last week, with Birch Creek reporting that one dealer estimated that 90% of the focus earlier in the week was on new issues.
May 5 -
Hilltop currently ranks 19th year-to-date among managing underwriters of municipal bonds, underwriting $1.2 billion in 53 issues.
May 5 -
"For munis, a strong jobs report should reverse recent credit spread widening, while a weak jobs report should keep credit spreads around current levels," said BofA strategists.
May 2 -
April's volume was revised upward to $45.825 billion in 727 issues, up 2% from $44.945 billion in 707 issues in the same period in 2024, according to revised LSEG data.
May 1 -
The muni market is coming out of oversold conditions, said David Litvack, a tax-exempt strategist at BofA.
April 30 -
Compensation played a role in the departures, sources said.
April 30 -
April's volume was $41.178 billion in 660 issues, down 8.4% from $44.945 billion in 707 issues in the same period in 2024, according to LSEG data. This is still above the 10-year average of $35.436 billion.
April 30 -
The well-known muni strategist said he's pursuing "more market-related opportunities."
April 29 -
Some of the issuance stems from project finance largely "drying up" because of where rates are, said Jennifer Johnston, senior vice president and director of research, municipal bonds, for Franklin Templeton Fixed Income.
April 29 -
The market has seen seven consecutive weeks of outflows. "This is not surprising given that retail investors tend to follow performance," said Daryl Clements of AllianceBernstein.
April 28 -
"Easing tariffs, a slowing economy and an improved supply/demand outlook for munis in May and onward should drive muni market pricing going forward," BofA strategists said.
April 25 -
Investors pulled $397.4 million from municipal bond mutual funds in the week ended Wednesday, following $1.258 billion of outflows the prior week.
April 24 -
The escalating dispute between the prestigious issuer and the White House is spooking some bond holders and creating opportunities for others.
April 24
