Lynne Funk is Senior Director, Strategy and Content, Live Media - Municipal Finance. She leads and shapes The Bond Buyer's six major events, serving as host, moderator, thought leader and brand ambassador. Lynne also is charged with creating innovative live media formats, including new conferences, virtual summits and podcasts to help serve our municipal finance community. Lynne has nearly two decades of experience in the public finance industry. She was most recently Executive Editor of The Bond Buyer. Previously, she was a director at Municipal Market Analytics, Inc., and in the Policy and Public Advocacy for the Municipal Securities Division at the Securities Industry and Financial Markets Association.
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Municipals have not tracked directly with the UST moves, where the 10- and 30-year UST has risen 24 and 26 basis points, respectively, from Wednesday. Municipals have seen yields rise by 16 and 11 basis points.
September 28 -
Month-to-date returns for municipals are in the red with the Bloomberg Fixed Income Indices municipal index returning -0.12%, high-yield at -0.15% and taxables at -0.32%.
September 24 -
U.S. Treasuries sold off by double digits while municipals cut levels by one to three basis points. Refinitiv Lipper reported another $1.55 billion of inflows for the 29th consecutive week.
September 23 -
Municipals continue to stay in their own lane. ICI reported $1.4 billion of inflows in the 28th consecutive week.
September 22 -
Without the primary in play and a mostly muted secondary, triple-A yield curves were little changed, coming nowhere near the moves in UST with the 10- and 30-year falling five and six basis points as equities saw their worst day since May.
September 20 -
Municipals have been distracted by the robust primary market and that trend will continue next week when another large new-issue calendar greets investors.
September 17 -
Several strategists estimate the municipal market will be 50% taxable in five years if a direct-pay bond option makes its way into law.
September 17 -
Refinitiv Lipper reported $1.3 billion of inflows and an increase in high-yield flows, marking the 28th consecutive week the fund complex saw inflows.
September 16 -
While falling to the lowest amount of inflows since June 2, the total for the year according to ICI at $72 billion, is still on pace to come close to or break the record, $93.2 billion, hit in 2019.
September 15 -
Large new issues from California, New York utilities and airport deals were repriced to lower yields and remained the focus for the municipal market, again ignoring a swing by U.S. Treasuries.
September 14
