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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Summer redemption season ends Tuesday when issuers return $9 billion of matured or called bond principal, said CreditSights strategists Pat Luby and Sam Berzok.
August 15 -
The top two municipal bond insurers wrapped $15.571 billion in the first half of 2023, a 12% decrease from the $17.689 billion of deals done in the first half of 2022, according to Refinitiv data. Insurance was up in Q2.
August 15 -
Late summer is "rarely a good time for our asset class," Barclays strategists said, noting the municipal investment grade index lost money in August three years in a row, and 2023 seems to follow this trend.
August 4 -
"The limited scope of muni debt affected suggests a marginal impact on the muni market, if any," BofA strategists said.
August 4 -
Municipal bond mutual fund saw outflows return with Refinitiv Lipper reporting investors pulling $989.852 billion from funds for the week ending Wednesday, led by ETFs and long-end funds.
August 3 -
The Investment Company Institute reported investors added $427 million to municipal bond mutual funds in the week ending July 26, after $453 million of inflows the previous week.
August 2 -
While it's still relatively early to tell how much — if at all — the muni market will be impacted, Kara South, portfolio manager at GW&K Investment Management, said downgrades of certain municipal bonds are likely to follow.
August 2 -
J.P. Morgan held a one-day retail order for $1.65 billion of revenue bonds from the Dormitory Authority of the State of New York, while Minnesota sold $1.02 billion of GOs in the competitive market in five deals.
August 1 -
This week kicks off a flip of calendar to the final month of the summer reinvestment season and one of the larger new-issue calendars of the year.
July 31 -
July's total volume was $25.939 billion in 542 issues, down from $28.258 billion in 619 issues a year earlier, the smallest percentage drop in monthly issuance year-over-year in 2023, according to Refinitiv data.
July 31
