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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Matthew Gastall and Daryl Helsing of Morgan Stanley delve into how municipals are performing versus other asset classes, where taxable munis fit and how they see the market performing heading into the summer reinvest. Jessica Lerner hosts. (36 minutes)
June 13 -
Elevated new issues, Federal Deposit Insurance Corp. sale lists, and heavy reinvestment cash "helped to offset each other [last] week and keep the muni market stable," said Birch Creek strategists.
June 12 -
Federal Reserve data shows that retail ownership of municipals rose $58.8 billion, or 3.7% quarter-over-quarter, to $1.67 trillion. Bank ownership fell in the first quarter by $13.3 billion.
June 12 -
"How fund flows end up shaping up this week is going to be very meaningful for how we start the summer," said Tom Kozlik, managing director and head of public policy and municipal strategy at HilltopSecurities.
June 8 -
The Investment Company Institute reported investors pulled another $374 million out of municipal bond mutual funds in the week ending May 31, after $671 million of outflows the previous week
June 7 -
Gambone, who has 30 years of experience in the municipal finance industry, replaced retiring head of public finance Eileen Solla-Diaz.
June 7 -
"June started out fairly strong for the municipal market as the relative cheapness attracted investors looking for an opening to start buying bonds at higher yields," said Roberto Roffo, managing director and portfolio manager at SWBC Investment Company.
June 6 -
Last week, munis underperformed the Treasury market "across the curve through Thursday with yields lower just 13bps," according to Birch Creek strategists. However, they said Friday's rally "in the front end helped pull shorter maturity munis ahead."
June 5 -
For the coming week, investors will be greeted with a new-issue calendar estimated at $8.213 billion.
June 2 -
Outflows continue as Refinitiv Lipper reported investors pulled $1.345 billion from municipal bond mutual funds for the week ending Wednesday.
June 1 -
Strength that began on Tuesday and continued Wednesday marked the first sessions since early May for positive performance after a hefty selloff, noted Kim Olsan, senior vice president at FHN Financial.
May 31 -
Total volume for the month was $26.062 billion in 677 issues, down from $36.583 billion in 928 issues a year earlier, according to Refinitiv data.
May 31 -
Despite the firmer tone Tuesday, May performance has put munis on track for their worst May since 1986.
May 30 -
The Investment Company Institute reported investors pulled another $137 million out of municipal bond mutual funds in the week ending May 17, after $290 million of outflows the previous week.
May 24 -
"It's good news/bad news for fixed-income markets," said Nuveen strategists Anders S. Persson and Daniel J. Close.
May 23 -
Since the 52-week low on April 12, yields have risen by an average of 46 basis points.
May 22 -
"Ultimately, the case for fixed income generally, and munis specifically, is much stronger today than it was a year ago," said Nick Vendetti, municipal bond fund portfolio manager with Allspring Global Investments.
May 22 -
For the week, triple-A muni yields rose between 11 and 29 basis points, according to MMD, while UST yields rose 11 to 32 basis points.
May 19 -
"Steep corrections occurring inside 10 years on the curve reflect an ongoing process to reduce a deep inversion," said Kim Olsan, senior vice president of municipal bond trading.
May 18 -
The Investment Company Institute reported investors pulled another $290 million out of municipal bond mutual funds in the week ending May 10.
May 17
