Finance

Municipals were stronger again on the day, though, and new-issues were repriced to lower yields.

Buyers appeared to return to the market the past two sessions after the January correction moved yields and ratios higher. Secondary trading was up again on Wednesday and new deals were well-received.

Washington plans to sell the GOs by competitive bid on Feb. 8 to fund various projects.

S&P said the action reflects the Orlando International Airport's financial resilience during the pandemic and its strong passenger recovery trends.

Triple-A benchmark curves were bumped two to five basis points outside of five years as markets calmed to start February.

Like peers with big endowments and strong student demand, the private university in Chicago has managed through the pandemic with its ratings intact.

Market volatility has led to munis seeing the worst performance to start the year since 2018 and the biggest monthly losses since March 2020.

Loop acquired an investment advisory firm from BMO.

January issuance declined by 14.7% year-over-year amid a rising-rate and volatile environment.

Short-end muni yields have risen more than 30 basis points on some triple-A scales over the past five trading sessions.

Returns are deep in the red with the Bloomberg Municipal Index at negative 1.85%, while high-yield sits at negative 1.81%.

The statement offered no surprises, but Fed Chair jerome Powell's refusal to denounce more hawkish scenarios hurt market sentiment.

Mark Miller will replace a retiring Jeff Freese at the helm of the KeyBanc's central team while Cain bolstered its healthcare team with Chris Whitley.

Triple-A benchmarks were cut two to six basis points across the curve with the largest moves concentrated again on bonds inside 10 years, underperforming Treasuries once again.

The Texas attorney general’s office is seeking more information on Citigroup’s gun policies as the bank stages a comeback in the state’s municipal bond market.

John Hallacy of John Hallacy Consulting LLC sits down with Chip Barnett to talk about what the municipal bond market will face in 2022. He discusses inflation, new issuance volume, and the future of infrastructure this year amid the lingering effects of COVID and Omicron. (19 minutes)

Munis are expected to underperform for another few weeks as markets remain volatile and investors reevaluate allocations.

The Marshall Fire burned 6,000 acres in 24 hours and destroyed more than 1,000 homes in suburban Boulder County between Denver and Boulder.

The combination of steady supply, heavy secondary selling and inconsistent demand have moved yields to their highest levels since May 2020.

Refinitiv Lipper reported $238.926 million of outflows, but $182.035 million of inflows to high-yield, reversing last week's outflows. New-issues faced concessions.