Markets

BofA Global Research strategists said they believe peak muni yields in this Fed tightening cycle were attained in October 2023 and "the bull market for munis is underway." 

The municipal dashboard solves three challenges: bond linkage, pricing and spread aggregation.

The Bay Area Rapid Transit was highlighted in the report on agencies still struggling.

The projects range from airports to ports and transit-oriented development.

"Demand is firming up. Interest rates have moved off the recent highs. Intermediate muni yields are about 50 basis points off from those highs," said Stephen Shutz, head of tax-exempt fixed income and a portfolio manager at Brown Advisory.

Buying technology can be a relatively safe bet, especially if it comes from an established brand, and it comes with support, maintenance and expertise from vendors. Internally building it allows for exclusivity and a potential competitive advantage.

The firm plans to launch a pair of high-yield muni funds in January.

Jaime Alvarez, who joined the Oregon State Treasury from Houston in 2021, was named the state's director of debt management in October.

"Everyone is reevaluating and taking a breather after the numbers [on Tuesday]," a New York trader said.

Prices have fallen for Alabama private activity bonds issued for wood pellet producer Enviva amid the firm's larger struggles.