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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The primary market remained mostly on the sidelines with issuers slow to jump back into coronavirus-driven volatility while also awaiting Fed engagement.
March 31 -
A more measured tone settled in on Monday as new deals begin to price in a coronavirus-weary marketplace. Municipal credit is beginning to come into focus.
March 30 -
The municipal bond market is poised to begin digesting larger primary issuance in the coming week after a massive rally in recent days.
March 27 -
Benchmark yields fell another 50 to 60 basis points, dropping them more than 1.5% in just four days. Meanwhile, a $450 million taxable new-issue came to market and was eight times oversubscribed.
March 26 -
Municipal benchmark yields were lowered by 60 to 80 basis points across the curve. Some trades pointed to nearly a 1% bump on short-term paper while state and local governments grapple with downgrades and revenue shortfalls.
March 25 -
The short end in particular was rebounding after Fed announced it would include variable rate demand obligations and short-term paper to its balance sheets.
March 24 -
The Fed today added in variable rate demand notes to other short-term municipal debt to a list of assets eligible to be used as collateral by financial institutions, which contributed to some stability in the secondary market.
March 23 -
A big New York State Empire Development Corp. private placement is likely to be followed by more until the municipal primary starts functioning again.
March 23 -
The municipal bond market again sold off as much as a half percentage point across the curve.
March 20 -
Lipper reported a whopping $12.2 billion of outflows from municipal bond funds. Out of that huge number, $5.3 billion were from high-yield funds. The $12 billion figure of outflows in one week equates to about 3% of annual municipal volume.
March 19
