Markets

Making it a summer Friday, munis were quiet. Participants contemplate why the market underperformed taxables to the degree they did when fundamentals are objectively strong and little has changed since before the FOMC.

State and local government groups want the focus on reinstating tax-exempt advance refunding bonds and expanding the current financing tools.

Over the years, Assured Guaranty has been open to guaranteeing in the U.K. and most of Europe, Australia, and New Zealand and through AGM in the U.S. they cover certain transactions within the Latin American region.

The final new issues of the week close with some bumps in repricings while the secondary was quiet.

Brightline Holdings will wait until 2022 to try again to finance a passenger train to Las Vegas from Southern California with tax-exempt bonds.

Fitch revised Illinois' outlook to positive but the rating remains BBB-minus, the lowest investment grade.

Triple-A benchmark yields moved higher by as much as five basis points while ICI reported another $1.8 billion of inflows and ETFs increase their share by $841 million.

A volatile U.S. Treasury market and month-end positioning are pressuring municipal yield curves.

John Hallacy, founder of John Hallacy Consulting LLC, talks with Chip Barnett about the pandemic’s lingering credit impacts on state finances in a wide-ranging discussion of the many issues affecting the municipal market today. (17 minutes)

The Federal Reserve must be prepared to move if inflation continues to surprise to the upside, according to one Fed president, while another again stated a desire for the Fed to pull back on its accommodation.