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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Citi's exit may have aggravated illiquidity last week, but even the traditional leader in times of stress wouldn't have been able to calm the wild market moves.
April 16 -
If the muni market "stays here at these new relationships, we'll find its footing," said John Flahive, head of fixed income at BNY Wealth.
April 15 -
Friday saw munis sell off once more with yields cut 17 to 28 basis points, pushing muni-UST ratios higher but not quite reaching Wednesday's levels.
April 11 -
Yields rose significantly for the fourth time this week as the aftereffects of President Donald Trump's tariffs continue to plague the financial markets.
April 11 -
"The discussion about policies regarding tariffs will drive performance in bonds over the next three to six months," said Michael Pietronico, CEO of Miller Tabak Asset Management.
April 10 -
Triple-A muni yields plummeted up to 50 basis points Thursday in a dramatic reversal from the week's earlier collapse. Speaking live at The Bond Buyer's Texas Public Finance event, market leaders painted a picture of extreme volatility, impaired liquidity, and an uncertain path forward.
April 10 -
"The equity market is looking at this more positively, but bonds are still thinking, 'Well, these tariffs still have to be resolved,'" said Kim Olsan, a senior fixed income portfolio manager at NewSquare Capital.
April 9 -
Municipal AAA yield curves were cut up to another 42 basis points, depending on the curve, as of noon, pushing yields to multi-year highs and long-end muni to UST ratios above 100%. Muni yields have risen up to nearly 100 basis points in spots since the bond market rout began.
April 9 -
Weakness in the muni market has been partly amplified by ETF selling; high-grade yields rose more than 60 basis points on parts of the curve over two sessions.
April 8 -
"The changing momentum on what the market is looking for on tariffs and the volatility in the equity market is spilling over into the Treasury market, and munis can only fight the Treasury market for so long," said Pat Luby, head of municipal strategy at CreditSights.
April 7
