Markets

LSEG Lipper reported Thursday that investors pulled $463.7 million from muni mutual funds for the week ending Wednesday after inflows of $147 million the week prior.

Participants are mixed on whether there will be continued growth in 2024, but some still see a universe of taxable bonds that still can be tendered.

Some general fund spending will be shifted to bonds to help the state meet priorities like housing and healthcare, Hawaii Gov. Josh Green announced.

Late-month volumes are "waning as it appears the year's tax-loss harvesting was accomplished leading up to the holiday period," said Kim Olsan, senior vice president of municipal bond trading at FHN Financial.

Fitch Ratings upgraded the Riverside County Interstate 15 managed lane project two notches, affecting $152.2 million in debt.

Cooper Howard, director and fixed income strategist for the Charles Schwab Center for Financial Research, shares his thoughts on the intermediate duration with Investors & Investing reporter Christine Albano

Munis' strong performance from November continued into December, said Miguel Laranjeiro, a portfolio manager at abrdn.

The year is ending on a strong note, said Joshua Perry, a partner, portfolio manager and municipal credit analyst at Brown Advisory.

The Water Infrastructure Financing Authority will use information it received from banks, businesses, conservation groups, and others to solicit water augmentation projects next year.

LSEG Lipper reported Thursday that investors added $147 million to muni mutual funds for the week ending Wednesday after outflows of $514.5 million the week prior. High-yield saw some outflows, though.