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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The Fed meets this week, but the probability of another cut at Wednesday's meeting seems low amid elevated inflation and growth data, said Matt Fabian, a partner at Municipal Market Analytics.
January 28 -
Tech stocks suffered on "worries that Beijing is becoming increasingly competitive in the high-stakes artificial intelligence race," said José Torres, senior economist at Interactive Brokers.
January 27 -
Issuance for next week falls to an estimated $5.151 billion, with $3.959 billion of negotiated deals and $1.193 billion of competitive deals on tap.
January 24 -
Investors added $2.028 billion to municipal bond mutual funds in the week ending Wednesday, following $251.7 million of outflows the prior week, according to LSEG Lipper data.
January 23 -
Issuance was led by a $2 billion retail pricing from the University of California in the negotiated market and a $1.2 billion competitive deal from Washington.
January 22 -
There are eight municipal bond interval funds, three of which launched last year, promising fewer liquidity constraints and the potential for higher returns.
January 22 -
Underperforming since the calendar turned, "munis have continued to cheapen over the past three weeks as Treasury returns are about flat for the year while munis are down 0.31%," said Jason Wong, vice president of municipals at AmeriVet Securities.
January 21 -
The Regents of the University of California leads the negotiated calendar with $2 billion of general revenue refunding bonds.
January 17 -
Munis "responded in part to a better UST session [Wednesday] but weren't in a position from a supply standpoint to attempt to match the 10-15 basis point rally in taxables," said Kim Olsan, a senior fixed income portfolio manager at NewSquare Capital.
January 16 -
Municipals are underperforming USTs month-to-date, with the Bloomberg Municipal Index showing losses of 1.02% versus 0.92% for USTs as of Tuesday, but both are outperforming losses in corporates that are seeing 1.23% losses in January.
January 15
