Finance

Refinitiv Lipper reported $1.3 billion of inflows and an increase in high-yield flows, marking the 28th consecutive week the fund complex saw inflows.

While falling to the lowest amount of inflows since June 2, the total for the year according to ICI at $72 billion, is still on pace to come close to or break the record, $93.2 billion, hit in 2019.

Ridership on the RTA's three service boards remains sharply below pre-pandemic levels but it benefits from coronavirus relief and stellar sales tax performance.

Large new issues from California, New York utilities and airport deals were repriced to lower yields and remained the focus for the municipal market, again ignoring a swing by U.S. Treasuries.

Market participants welcomed the municipal-related provisions in the reconciliation bill but are hesitant to start making bets on its passage.

The Long Island utility intends to sell electric system general revenue bonds in three tranches.

A larger new-issue calendar greets investors with a lot of cash on hand and strategists expect municipal yields to rise as the calendar builds.

Refinitiv Lipper reported $1.1 billion of inflows into municipal bond mutual funds, with high-yield falling to $144 million. Even with the lower reported inflows, funds still raked in record billions so far in 2021.

The 16-year public finance veteran has concentrated much of his career on aviation-related financings.

The Federal Reserve said Wednesday in its Beige Book report that U.S. economic growth slipped to a more moderate pace between early July and the end of August.

Altru's deal drew a downgrade from Fitch Ratings and a raised outlook from Moody's Investors Service.

As the market prepares for a smaller primary calendar in the holiday-shortened week, fund flows again are worth exploring as a strong demand component for 2021.

Moody's moved its outlook to positive on Minnesota's Aa1 rating, and S&P went to stable from negative on its AAA rating ahead of the state's annual bond sale.

Analysts cited long-term structural balance and high reserves in lifting S&P's outlook on the Golden State's AA-minus rating.

Refinitiv Lipper reported just over $1 billion of inflows into municipal bond mutual funds, an $800 million drop from a week prior, moving the four week moving average to $1.6 billion.

The New York City convention center's bonds are backed by hotel tax revenues that have been slow to recover from COVID-19.

ICI reported $1.99 billion of inflows into municipal bond mutual funds, bringing the total to $69 billion for 2021.

Moody's Investors Service upgraded St. Louis to A3 from Baa1 citing a "materially improved financial profile."

Daily bid-wanteds totals per Bloomberg have fallen to an average par value below $450 million from $640 million per day during the first quarter and $549 million in the second.

Cooper Howard, director of fixed income strategy at the Schwab Center for Financial Research, talks with Chip Barnett about what municipal bond investors can expect in the second half of the year – low yields and strong fundamentals. He looks at continuing bond fund inflows, rising taxable issuance and compressed spreads. (14 minutes/Taped Aug. 3).