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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Primary deals are now coming at tighter spreads to the secondary than they have recently. Cooler heads are appearing on the institutional side, but ICI reports $1.7 billion pulled from muni market mutual funds.
May 6 -
A premarketing wire indicated the deal could price at spreads 300 basis points north of benchmark yields. In Monday's trade, the rally begun last week continued.
May 4 -
Taxable munis hold the distinction as being the largest positive sector year-to-date, up 2.81%. High-yield has been hammered, losing 10%.
May 1 -
A range of technical issues — from month-end accounting and financing to spread widening, price volatility and the coronavirus impact on businesses and the economy — spurred a tone of relative quiet in Thursday's trade.
April 30 -
The primary, meanwhile, digested a massive $1.12 billion bond offering from New York Power Authority. The entire deal was structured to mature later than 2045 and a good portion of it was designated green bonds.
April 29 -
The market isn't facing 50-basis-point swings, but its footing is still off as participants grapple with the long-term effects of the pandemic. New deals are getting pulled and New York Power is about to issue bonds maturing in 2060.
April 28 -
Rate volatility is still evident on the buy side of the municipal market as bid wanted lists reflect redemptions or portfolio restructuring by investors, analysts said.
April 24 -
The historic nature of how ratings for municipal issuers play out in times of severe volatility is under scrutiny from various market participants.
April 23 -
The secondary market took a backseat to the primary Thursday with yields holding steady while Lipper reported $833 million of inflows, the first since February 26.
April 16 -
ICI reported nearly $3 billion of outflows, which is foretelling that coronavirus-driven volatility still lingers even if the muni market has rallied by at least 60 basis points since early-April high yields.
April 15
