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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An elevated new-issue market is on the horizon with $14.87 billion, per The Bond Buyer's 30-day visible supply.
October 23 -
The new-issue muni calendar is estimated at $8.522 billion next week with $6.075 billion of negotiated deals on tap and $2.446 billion on the competitive calendar, according to Ipreo and The Bond Buyer.
October 20 -
LSEG Lipper data Thursday showed $297 million of outflows from municipal bond mutual funds for the week ending Wednesday after $780.1 million of outflows the week prior.
October 19 -
Municipal mutual fund losses continued last week as the Investment Company Institute reporting investors pulled $2.645 billion from the funds in the week ending Oct. 11. ETFs see more inflows, though.
October 18 -
Munis are now following along with broader Treasury market weakness, and "at the same time are also attempting to manage some of the healthiest issuance that we've seen this year," said Morgan Stanley's Matthew Gastall.
October 17 -
The top two municipal bond insurers wrapped $22.814 billion in the first three quarters of 2023, a slight dip of 0.5% from the $22.929 billion of deals done over the same period in 2022, according to Refinitiv data.
October 17 -
"The combination of higher yields and this week's heavier new-issue calendar will attract attention from income-focused individual investors as well as from institutional investors who are underweight munis," said CreditSights strategists Pat Luby and Sam Berzok.
October 16 -
As valuations got richer after muni outperformance this week, Barclays strategists expect munis to be "truly tested in the next several weeks, with supply picking up."
October 13 -
A higher inflation figure sent UST yields higher, complicating Central Bank policymaking and reversing a flight-to-safety bid amid ongoing geopolitical turmoil in Israel.
October 12 -
Minutes from the September Federal Open Market Committee meeting were "not much of a market mover" Wednesday, said Scott Anderson, chief U.S. economist and managing director at BMO Economics.
October 11
