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 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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Markets are "tilting to a risk-off posture as participants brace for the chance of Trump tariff-sparked turbulence in the coming hours and days," said José Torres, senior economist at Interactive Brokers.
July 7 -
UST yields rose across the curve in response to the employment report with the two-year rising nearly 10 basis points while municipals largely ignored the moves and ratios fell as a result.
July 3 -
The growth of the muni market comes as issuance surges, with the first half of the year seeing $280.64 billion of supply, up 14.3% year-over-year, according to LSEG.
July 3 -
MFS Investment Management predicts "compelling opportunities for muni investors" in the second half of the year.
July 2 -
Issuance this year has been "relentless" since the start of the year, while historically the "new-issue machine" takes a while to get rolling, said Scott Diamond, co-head of AM Municipal Fixed Income at Goldman Sachs.
July 1 -
This week has the July 4th holiday, with only $2.5 billion on tap in the primary bond market, though investors have tens of billions in reinvestment cash.
June 30 -
Issuance for the week of June 30 is estimated at $2.495 billion, with $2.039 billion of negotiated deals and $456.3 million of competitive deals on tap, according to LSEG.
June 27 -
Investors added $79.6 million to municipal bond mutual funds in the week ended Wednesday, following $110 million of inflows the prior week, according to LSEG Lipper data.
June 26 -
"The trend of heavy issuance that began last year has continued in the first half of 2025, surpassing even our rather optimistic expectations," said Barclays strategists Mikhail Foux, Grace Cen and Francisco San Emeterio.
June 24 -
The selloff highlights the lack of accurate pricing and credit information across the speculative-grade muni market.
June 24
