Finance

"Folloing recent yield moves, a generic muni index is now down 1% on the month with no real sub-sector showing much deviation from that result," said Kim Olsan, senior vice president of trading at FHN Financial.

The finance team is "marketing slices of risk" to raise money to refinance its debt, investors said.

Jeffrey Scruggs, Managing Director and Head of Public Sector and Infrastructure Group at Goldman Sachs, sits down with Bond Buyer Executive Editor Lynne Funk on the state of the muni industry.

Despite higher yields, muni to UST ratios remain rich. Ratios look "progressively richer" moving into the five- to 10-year part on the curve, with the 10-year spot "still far more attractive in taxables versus tax-exempts," J.P. Morgan said.

The growing federal debt level may pressure lawmakers to retract or reduce the tax-exemption for munis to generate revenue, some market participants argue.

"April has been one of the worst-performing months over the past five years, which we believe warrants continued caution," BlackRock strategists said.

Barclays' Mikhail Foux talks shifting demand, BABs refundings, election effects and what it means for the asset class in a volatile market.

The firm said Saporito's hiring is among several other additions made to beef up Wells Fargo's commitment to munis.

April continues to be "harsh" for munis as the asset class has given up roughly 72 basis points in the first two weeks of the month, said Jason Wong, vice president of municipals at AmeriVet Securities.

Duluth-based St. Luke's affiliation with Aspirus Inc. has lifted the prospects for its speculative-grade bonds; S&P placed the hospital on CreditWatch positive.