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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Total October volume was $24.951 billion in 510 deals versus $41.811 billion in 1,068 issues a year earlier, according to Refinitiv data.
October 31 -
The upcoming Federal Open Market Committee meeting on Tuesday and Wednesday has led to a lighter new-issue calendar with $2.72 billion on tap.
October 28 -
Municipal to UST ratios have risen this week with the 10-year approaching 90% and the 30-year topping 100%.
October 27 -
Outflows continued as investors pulled $3.876 billion from mutual funds in the week ending Oct. 19 after $4.532 billion of outflows the previous week, according to the Investment Company Institute.
October 26 -
While muni performance has turned negative for October, "the asset class is significantly outperforming UST," said Jeff Lipton, managing director of credit research at Oppenheimer Inc.
October 25 -
The top two municipal bond insurers wrapped $22.897 billion in the first three quarters of 2022, a 21.1% decrease from the $29.028 billion of deals done in the first nine months of 2021.
October 25 -
The top bond counsel firms combined for a total of $292.177 billion in 6,406 transactions during the first three quarters of the year, down from the $343,709 billion in 9,139 deals over the same period in 2021.
October 25 -
"Municipal market performance has improved, but the bumpy road continues as investors remain uncertain about the interest rate environment," said Nuveen's Head of Municipals John Miller.
October 24 -
Selling pressure was on the rise again this week. Thursday's $2.919 billion of bonds out for the bid was only surpassed on March 19, 2020, when they hit $4.115 billion. A larger calendar closes out October.
October 21 -
Corporate CUSIPs can reach a different, broader set of investors than even taxable munis and offer more issuing flexibility for well-known universities.
October 21 -
"The curve slope has undergone a massive flattening this year and recent trends suggest demand pockets are developing in specific ranges," said Kim Olsan, senior vice president of municipal bond trading at FHN Financial.
October 20 -
Outflows continued as investors pulled $4.532 billion from mutual funds in the week ending Oct. 12 after $5.172 billion of outflows the previous week, according to the Investment Company Institute.
October 19 -
Triple-A curves were a touch firmer in spots as secondary trading took a backseat to the larger primary activity with Connecticut and Massachusetts pricing general obligation bonds, a large CommonSpirit healthcare and several competitive issues led by Rhode Island GOs.
October 18 -
Volume rebounds eightfold this week with a new-issue calendar of $8.5 billion, including several billion-dollar deals.
October 17 -
"Despite a pick-up in volatility in the rates market, municipals have been performing relatively well in October," according to Barclays PLC.
October 14 -
Refinitiv Lipper reported $2.262 billion of outflows from municipal bond mutual funds for the week ending Wednesday after $2.057 billion the week prior.
October 13 -
The Investment Company Institute reported $5.128 billion of outflows for the week ending Oct. 5 after $5.374 billion of outflows the previous week.
October 12 -
Most top 10 issuers are from New York and California, with New York issuers overtaking the Golden State year-over-year.
October 11 -
Minor shuffling among the top municipal underwriters characterized the year-over-year differences, with the same underwriters remaining in the top 10.
October 11 -
Munis are in the black so far in October and some participants see signs of continued improvement.
October 11
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