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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Supply is slightly lower this week at nearly $10 billion but not by much, with the pace of supply suggesting $500 billion of issuance for the year could still happen, said Tripp Kaiser, a managing director at Municipal Market Analytics, Inc.
October 8 -
Mutual funds saw inflows to the tune of $1.88 billion last week, marking 14 consecutive weeks of positive fund flows, according to LSEG Lipper. This brings year-to-date inflows to nearly $17 billion.
October 8 -
Muni yields were cut up two to five basis points, depending on the curve, while UST yields rose five to seven basis points, pushing the 10-year UST yields above 4%.
October 7 -
This surge in demand "is no coincidence — it's the result of weeks of relentless inflows, further amplified by the Federal Reserve's recent rate cut," said 16Rock Asset Management CIO James Pruskowski.
October 3 -
Through the integration, Investortool's clients can calculate analytics based on predictive trade levels, filter the live market based on "what's rich or what's cheap" compared to the predictive price and power automation, said James Morris, senior vice president at Investortools.
October 2 -
The larger supply calendar should be "taken down well given the persistent inflows into our market and investors are still sitting on plenty of cash," said Daryl Clements, a municipal portfolio manager at AllianceBernstein.
October 1 -
September volume came in over $44 billion leading volume year-to-date to hit more than $380 billion, just shy of 2023's full-year total issuance.
September 30 -
High-yield muni issuance totals $20 billion year-to-date, "reflecting normalization from relatively depressed levels in 2023 ($7.6 billion over the comparable period), and now virtually equal to the trailing five-year average for the period ($20.1 billion)," said J.P. Morgan strategists, led by Peter DeGroot.
September 26 -
The Investment Company Institute reported $1.329 billion of inflows into municipal bond mutual funds for the week ending Sept. 18 after $1.402 billion of inflows the week prior. Exchange-traded funds saw $55 million of inflows after $1.048 billion of inflows the previous week.
September 25 -
Demand for munis looks "fairly stable" for now, particularly after the 10- to 25-basis-point rally ended in the 30 days before the Federal Reserve cut rates last week, Municipal Market Analytics, Inc. said, noting the "bull-steepening adjustment" looks like the 30-day move before the beginning of the Fed's last cutting cycle, at the end of July 2019.
September 24
