Markets

Russia’s invasion upends a return to normal as the economic impact of COVID-19 wanes, UCLA Anderson Forecast economists said.

Secondary trading showed weaker prints, moving triple-A yields higher by three to seven basis points, outperforming larger losses in UST. California priced $2.2 billion of GOs for retail.

The Illinois Finance Authority signed off on the financing cementing NorthShore University HealthSystem’s recently closed merger with Edward-Elmhurst Health.

As municipals continue to underperform the moves in U.S. Treasuries, current ratios are attractive and present a buying opportunity.

Market volatility has risen significantly, particularly in the last several weeks, with daily Treasury yield swings of 10 basis points or more becoming the norm with municipals struggling to stabilize.

The low-interest federal loans will complete financing packages for Virginia's express lane extension outside Washington D.C. and Maryland’s Purple Line light rail project.

Moody's raised the Chicago Board of Education's rating by one notch to Ba2.

Ongoing turmoil in the Ukraine is roiling markets, municipals included. Refinitiv Lipper reported more outflows, with high-yield seeing $818.218 million pulled out in the latest week.

The MSRB’s annual fact book, released on Wednesday, shows that par amount trading volume was down 28% in 2021 when compared with 2020.

The University of Michigan follows Michigan State this month in joining the club of universities offering 100-year bond maturities.