Finance

Public finance bankers predicted that 2022 could be another strong one for muni bond issuance at the Bond Buyer's California Public Finance conference.

Triple-A benchmarks saw one basis point cuts in spots inside 10 years while the five-year U.S. Treasury hit a high of 1.154%.

Friday’s data suggested inflation remains a problem, as the voices calling for Federal Reserve action increase.

Municipals have mostly held steady as bid-wanteds have risen, but so have yields and ratios, making for a more satisfactory range for investors getting into the market at these new higher levels.

Another round of inflows was reported from the Investment Company Institute — the 31st consecutive week — but they came in at $308 million for the week ending Oct. 6, the lowest since outflows in March.

A proposal from the Ohio Treasury would provide a new enhancement for state-purchased public university debt and offer a backstop for hospitals' VRDOs.

Volatility in the U.S. Treasury market continues to pull on municipal bond valuations, despite little trading volume.

Municipals outperformed the move in taxables Friday but weakness hangs over the market as fund flows lessen and supply increases. Taxable munis may be keeping exempt rates from moving higher.

For 31 consecutive weeks investors put cash into municipal bond mutual funds but saw just $36.87 million of inflows in the latest reporting period while high-yield funds saw $460 million of outflows after $103 million of outflows a week prior.

ICI reported $704 million of inflows, a $1.1 billion drop from the week prior, bringing the total to $76 billion year to date.

The firm’s distribution capabilities across major and mid-size institutional accounts, professionally managed retail accounts, and high net worth individual accounts is a throwback to founder Archibald Bullock Roosevelt’s vision.

The increase in yields and spread widening across municipal sectors has given some pause to high-yield investors after months of stagnation.

Challenges abound in meeting the needs of both investors and issuers in incorporating environmental, social and governance factors into the municipal market. Jasper Cox, Fixed Income Analyst at the PRI, Principles for Responsible Investment, gives insights into how the market can adapt. Lynne Funk hosts. (23 minutes)

Municipals took a breather Monday, largely ignoring stock market volatility and softer U.S. Treasuries, ahead of a solid $9 billion new-issue week.

The finance team expects the mixed taxable and tax-exempt deal will attract ESG-minded investors.

Developers are using unrated bonds to finance a golf course-centered resort in fast-growing southern Utah.

A $430 million collaborative transaction featured the university, two asset management firms, and the New Jersey Educational Facilities Authority.

Ratios have moved into a higher, more favorable range, especially in the belly of the curve. The municipal calendar is building, led by taxables and refundings, after they dropped significantly in September.

Keith A. Wakefield's alleged unauthorized and speculative trading at the former IFS Securities Inc. and his attempts to cover it up drew charges Thursday from the SEC and U.S. Attorney's office.

The lower inflows and high-yield outflows can be tied to the correction over the past week and may point to uncertainty from retail investors over broader market volatility.