Markets

After "carnage" in 2022, a munis should see a "positive environment" this year, according to analysts.

The authority's issues hamper the USVI economy, Gov. Bryan says in his state of the territory speech.

The 2023 "January effect" seems to be "displaying typical behavior given relatively thin issuance this month and demand patterns that have been buoyed by four of six reinvestment needs," said Jeff Lipton, managing director of credit research at Oppenheimer Inc.

The city received $217 million of retail orders — a rarity in Illinois where local bonds don't benefit from state tax exemption — and interest from 11 ESG funds.

Rising interest rates, market volatility and the loss of business and revenue top the public finance industry's concerns for 2023.

For the first time in several weeks, munis last week outperformed "by a wide margin and across the entirety of the yield curve," said Eric Kazatsky, head of municipal strategy at Bloomberg Intelligence.

Investors will be greeted Monday with a new-issue calendar estimated at $5.520 billion.

A demand survey conducted by CDLAC in November foreshadowed $11 billion in requests from applicants for the state's private activity bonds.

The primary "pumped new life into an already-firm market with a lower yield range being established," said Kim Olsan, senior vice president of municipal bond trading at FHN Financial.

Inflows returned, with the Investment Company Institute reporting investors added $1.982 billion to mutual funds in the week ending Jan. 11, after $3.157 billion of outflows the previous week.