Finance

Predictably, the rating agency cited COVID-19 effects in its downgrade to AA-minus from AA.

Strong technicals, low supply, yield-seekers keep munis outperforming.

The outlook revision to New York's AA GO bond rating marks the latest hit to a city coping with a rise in COVID-19 cases and financial uncertainties.

The primary's diversity of credits and size relative to November has grown, but it is just not enough to push yields higher as redemptions flood the market. Some analysts still say a mild correction at least is due.

A heavier calendar still will not fulfill the $20 billion-plus of December redemptions. Muni/UST 10-year ratios fell to 74% as the UST 10-year came closer to 1.00%.

Difficulty tracking securities means a harder time for investors to understand their credit risk during the pandemic.

Refinitiv Lipper reported inflows of net $201 million for the week ending Dec. 2, down from $386 million the week prior.

Moody's downgraded Wisconsin's largest city by one notch due to budgetary pressures.

In retirement, he's launched a consulting firm that has several irons in the fire, including continued work on research products for Loop.

Until supply increases, year-end demand has munis outperforming. ICI reports another multi-billion week of inflows.

The university will begin its two-day retail order period Friday.

Munis are likely to lag Treasuries in some fashion once year-end empathy settles in mid-month and ratios become a factor.

Ike Papadopoulos brings more than 20 years of investment banking experience, most recently with Ziegler and TD Securities.

Although November posted the lowest monthly volume total this year, issuance has already exceeded 2019's total and is on track to set a new yearly record in 2020.

After volume in November came in around $19 billion, the lowest since 1999, investors look to December.

Michael Chalker, portfolio manager and senior analyst at LM Capital Group, talks with Chip Barnett about the fixed-income markets and the fallout from the COVID-19 pandemic. (16 minutes)

The Investment Company Institute reported municipal bond funds saw $2.675 billion of inflows in the latest reporting week.

The rating agency cited coronavirus-related curbs on economic activity in the commonwealth.

Fitch Ratings cited concerns about LADWP's debt leverage in setting a negative outlook.

Sources said the JFK deal was massively oversubscribed, allowing underwriters to lower yields from 15 to 45 basis points.