Finance

Thirty-day visible supply drops to $13.54 billion with still a large chunk of new issues to be priced Wednesday and Thursday.

The municipal market is poised to absorb the late-year burst of supply as market technicals are expected to remain positive through year end.

The weaker-than-expected employment report sent U.S. Treasury yields lower and equities sold off. Munis did what they've been doing — mostly ignored it.

Revenues from the Bay Area Toll Authority's seven bridges are recovering more slowly than many other U.S. toll roads, but it enjoys strong credit fundamentals.

Refinitiv Lipper reported a significant drop in municipal bond mutual fund inflows at $36 million in the latest week, a signal the volatility of other markets may be creeping in. High-yield saw $53 million of inflows.

Even short government shutdowns create uncertainty and risks for city leaders.

The Investment Company Institute reported $974 million of inflows into municipal bond mutual funds in the week ending Nov. 23, down from $1.430 billion in the previous week.

States, on the front lines of implementing the new $1.1 trillion infrastructure program, want clear, flexible federal rules and the ability to tap private investment.

Powell says the FOMC will consider ramping up tapering when more information about Omicron and its impacts are known, further flattening the UST yield curve.

Economists appear to be less concerned about Omicron, with some saying that even if the variant causes another pandemic wave, it is more likely to "slow rather than interrupt" the global economic recovery.

Municipal yields fell as much as three basis points on Friday as Treasuries soared in a flight-to quality bid as stocks plunged on fears about the emergence of a new COVID variant.

ICI reported $1.43 billion of inflows into municipal bond mutual funds in the week ending Nov. 17, down from $1.61 billion in the previous week.

Michelle Wu's election was an exception at the local level as voters rejected hard-left candidates and initiatives.

With the leadership questions mostly answered, the Fed must figure out what to do about inflation. The markets expect the Fed will have to raise rates sooner than planned, and perhaps speed up taper to do so.

This week will be all about the secondary market given that the majority of issuance was priced earlier in the month while Dec. 1 coupon payments should make secondary offerings look attractive.

The two are in sync, said New York City's incoming comptroller, who will take office Jan. 1.

The Thanksgiving holiday-shortened week, next-to-no supply and few economic data releases should keep munis steady.

Citing lingering questions about the bank's policies on financing of firearms manufacturers, the Bond Commission chose Wells Fargo for the refinancing deal.

Month over month, the municipal market is in a much better position, as heavy demand and flows continue to drive it.

The state will take a fresh dose of good rating news into the market when it competitively sells $400 million to fund pension buyouts and capital expenditures.