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Municipal bond mutual funds in the period ending Feb. 9 saw heavy withdrawals for the 13th consecutive week.
February 11 -
A $3.7 billion taxable Illinois general obligation sale this week is the largest single deal to test the fickle and fiscally challenging waters of the municipal market so far this year. It will be the standout offering in an otherwise lifeless primary.
February 11 -
Tax-exempt money market funds recouped most of last week’s losses, adding $2 billion and finishing with $326.39 billion in total net assets for the week ended Feb. 7, according to the Money Fund Report, a service of iMoneyNet.com.
February 10 -
Low short-term interest rates continue to erode the investment income of state and local governments.
February 10
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The Bond Buyer’s long-term weekly yield indexes increased this week, reflecting losses in the Treasury market.
February 10
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As the expiration of the Build America Bond program loomed last year, the market was wracked with uncertainty about just who was going to buy long-term tax-exempt bonds. Thanks to the drought of new municipal bond issuance in 2011, the market is still wondering.
February 9
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Retail investors in municipals are shaken, but still standing, after a relentless barrage of negative media hype surrounding forecasts for massive municipal bankruptcies and defaults later this year.
February 8
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Carl Dincesen, the former head of municipal credit at Ambac, plans to launch an investor-pays credit ratings service later this month to fill what he describes as a niche: a forward-looking evaluation of the probability a municipality will default.
February 8 -
The recent media firestorm over state and local government finances has resulted in heightened efforts by those in the municipal bond industry to educate jittery investors and enhance disclosure in the nearly $3 trillion market.
February 8
