Finance

Strong demand in the primary market is leading to the oversubscription of many new issues. Municipals and USTs were better again as macroeconomic concerns pressure equities.

Brian Wynne joins Jefferies as co-head of the municipal syndicate, while Morgan Stanley continues to see turnover in its muni ranks.

The second half of 2023 may see a slowdown, perhaps even a mild recession, said Daniel Close, the newly named head of municipals at Nuveen.

Illinois' public universities continue to reap ratings and aid benefits from the state's positive rating trajectory and healthy near-term revenue landscape.

Municipals are coming off a rally and yields were better in spots Monday, but ratios are a cause for pause.

Moody's Investors Service ran a series of stress tests on $38 billion in state highway revenue bonds it rates to gauge the risk to fuel-tax backed bonds.

New Jersey received a Moody's Investors Service upgrade to A1, citing the state's approach to pension funding and debt defeasement.

For the week ending Wednesday, outflows lessened as Refinitiv Lipper reported $91.713 million was pulled from municipal bond mutual funds after $194.097 million of outflows the week prior.

Detroit's return to investment grade is within reach if it stays on track after Moody's put a positive outlook on the Ba1 rating following an upgrade from Ba2.

Outflows continued with the Investment Company Institute reporting investors pulled $128 million from mutual funds in the week ending March 29, after $693 million of outflows the previous week.