Markets

With the Fourth of July holiday shortening the week, investors will see a paltry $2.861 billion of new issues to kick off the second half of 2022.

Denver International Airport returns to the municipal market boosted by a rating upgrade as it recovers from passenger and revenue losses in the pandemic.

The board also approved a rollover of bond anticipation notes because it doesn't have access to the bond market.

Elizabeth Funk is the new managing director of institutional sales and trading in the municipal underwriting group amid a wave of recent new additions. Natalie A. Brown has taken over as CEO.

Investors pulled more from municipal bond mutual funds, with Refinitiv Lipper reporting $1.3 billion of outflows, down from the $1.6 billion the week prior and bringing the total to $47 billion year-to-date.

For the first half of 2022, total issuance sits at $201.556 billion, down 14.5% from $235.836 billion in 2021. Taxables are down 46.8% to $31.024 billion from $58.338 billion.

The Spotlight Dealer Diversity Program, an initiative to highlight firms owned by women, veterans, people with disabilities and individuals of underrepresented racial and ethnic groups, aims to promote them in Tradeweb’s platforms.

The Investment Company Institute reported investors pulled $4.590 billion from muni bond mutual funds in the week ending June 22, down from $6.243 billion of outflows in the previous week.

Largely attributable to Fed interest rate increase-led volatility, outstanding municipal bonds lost $300 billion of market value in the first quart of 2022, a Municipal Securities Rulemaking Board report said.

Disclosure around ESG-related risk factors to credit as well as for ESG-labeled bonds remains a mixed landscape that reflects the heterogenous nature of the muni market itself.