Markets

The muni market is closing out the month of June with the curve "more or less static" to where it was at the end of May, Kim Olsan wrote for NewSquare Capital.

Thursday was quiet in the muni market as many deals — which did pretty well upon pricing or selling — came to market earlier in the week, said Ron Banaszek, co-head of public finance and lead underwriter at Blaylock Van.

The groups are taking additional steps to try to stop or pause development of a major industrial park between New Orleans and Baton Rouge.

Falling oil prices sparked a rally for Treasuries. Munis took some strength from USTs, according to Jeremy Holtz of Income Research + Management.

There are a lot of "great technology solutions" out there, said Dan Silva, CEO and cofounder of Adaje.

The President is pumping the brakes on signing the first major housing bill in 30 years including a provision that lifts the public welfare cap, a move that could spur bond sales.

There wasn't any one factor driving the muni market's weaker performance, FHN's Ajay Thomas said. But investors had a lot of deals from which to choose.

The BB-plus rated borrowing comes as high-yield supply remains strong in the muni market.

SWBC's Chris Brigati said he expects munis to continue to outperform Treasuries, unless USTs aggressively sell off.

Market Intelligence analyst Jeff Lipton explains why constrained state budgets should not be mistaken for broad credit deterioration, pointing to rainy-day funds, revenue diversity, low debt burdens and strong debt-service protections as key stabilizers.