Markets

Volatile muni yields coupled with the trepidation surrounding a Federal Open Market Committee meeting seem to have put a damper on new issuance as volume for the coming week is estimated at $6.72 billion, according to Ipreo and The Bond Buyer.

For the week ended June 11, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, increased five basis points to 4.47% from 4.42% from the previous week.

For the sixth week in a row, municipal bond funds reported outflows, bringing to nine out of 24 weeks this year the funds have suffered cash withdrawals.

Fund manager Andy Chorlton evaluates market indicators to see where interest rates could go as he seeks to maximize after-tax returns.

Atlanta-based Asset Preservation Advisors recommends that investors remain “highly selective” when purchasing Kentucky’s bonds due to the state’s high pension liability.

Hartford Funds is launching two new municipal bond funds to expand its suite of products

The week of June 8 will see the muni market with the largest deals being of the competitive variety, not negotiated.

Managing a small portfolio has advantages of generating significant income and returns for high net worth clients, according to Jeffery Elswick, director of fixed income at Frost Investment Advisors LLC.

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, decreased one basis point to 4.42% for the week ended June 4 from 4.43% in the previous week.

For the fifth straight week, municipal bond funds reported outflows, bringing to eight out of 23 weeks this year the funds have suffered cash withdrawals, according to the latest Lipper data.