Markets

The Investment Company Institute reported $2.034 billion of outflows from muni bond mutual funds in the week ending Sept. 7 compared to $2.594 billion of outflows the previous week.

A whopping 91% of Bond Buyer California Public Finance Conference survey respondents expect municipal interest rates will end the year higher than current rates and 73% said rates will have the largest impact on the public finance industry in the next two quarters

The allocation for Strategic Biofuels LLC received final approval from the Louisiana Community Development Authority, conduit issuer for the tax-exempt bonds.

Muni and UST yields surged Tuesday on expectations the Fed will have to aggressively raise interest rates to bring down inflation.

Fiona Ma delivered speeches Monday at The Bond Buyer California Public Finance conference and California Debt and Investment Advisory Commission pre-conference.

Monday's opening panel of The Bond Buyer California Public Finance conference in Los Angeles was an insiders' look at muni market challenges and opportunity.

Even after investors received an infusion of $18 billion of matured and called bond proceeds on Sept. 1, muni prices have continued to weaken, note CreditSights strategists Pat Luby and John Ceffalio.

Fitch raised Wayne County's rating to A from BBB-plus, putting its fiscal distress further in the rearview mirror following a round of upgrades this year.

The calendar for the week of Sept. 12 is at $6.6 billion while Bond Buyer 30-day visible supply sits at $14.15 billion.

The state will hold an in-person and remote investor meeting Sept. 21 before heading into the market the following week.