Markets

The market is being driven by the prospect of higher long-term inflation and the potential that the Federal Reserve may have to raise rates further than expected.

This month the University of Michigan sold $1.2 billion and Michigan State University sold $500 million of taxable 100-year bonds.

Lawmakers in other red states are trying to follow Texas' footsteps with bills to subject banks to a litmus test over their treatment of the firearm industry.

Lloyd Nemerever will lead portfolio management for the firm's municipal bond-focused separately managed accounts.

DASNY leads the calendar with $2.3 billion of exempt personal income tax bonds and $662.32 million of taxables. Potential volume is slated to be $5.11 billion, with $4.392 billion of negotiated deals and $718.1 million of competitive loans.

The firm's special district group is up to 30 public finance professionals with the addition of seven members since January.

Outflows continue but dropped significantly in the latest week with Refinitiv Lipper reporting $662 million of outflows from municipal bond mutual funds following $2.823 billion the week prior.

The USVI government intends to refund the remainder of its outstanding bonds at the end of March.

The Investment Company Institute on Wednesday reported another round of large outflows, this week at $3.502 billion, up from $2.647 billion of outflows in the previous week.

The deal priced into a market that has seen rising rates for municipal bonds along with record high oil and gas prices.