Markets

Trades on alternative trading system platforms are smaller and more likely to involve securities with complex features, according to a new MSRB report.

A pair of bond sales coming out of the Carolinas found homes with investors this week as demand for the paper was high.

Refinitiv Lipper reported $1.9 billion of inflows, high-yield gaining $524 million, the 25th consecutive week of inflows into municipal bond mutual funds.

The Investment Company Institute reported $2.3 billion of inflows, bringing 2021 totals to $67 billion.

Kroll Bond Rating Agency upgraded Wisconsin’s general obligation bonds to AAA from AA-plus and S&P Global Ratings lifted them to AA-plus from AA.

Kroll Bond Rating Agency also affirmed the city’s general obligation bond rating at A.

While municipals were little changed, broader markets remain focused on Jackson Hole and speculating what will be said about tapering.

John Ceffalio, Senior Municipal Research Analyst at CreditSights, talks with Chip Barnett about what to expect in the second half of the year. He discusses municipal bond market fundamentals, credit and climate disclosure. And he looks at the pandemic’s long-term risks for U.S. cities as the work-from-home culture becomes stronger and how higher education will cope with a new reality. (18 minutes)

U.S. Treasuries gave little direction Monday, holding ratios and yields steady, leading most participants to argue both are satisfactory to ride out the summer.

Fitch Ratings also maintained a negative outlook on BART.