Markets

Two top state lawmakers, who along with Cuomo comprise the “three people in the room” that hash out the spending plan, pulled their support of the New York governor.

With the reset in yields in the rear view, valuations — especially relative to Treasury — will likely support continued robust demand.

Far West municipal issuers sold $99.1 billion of debt last year, a 16% increase from 2019, picking up the pace in the second quarter after a hiccup in March when the coronavirus first put society on pause.

Jacqueline Dunn had held the interim position since last September.

Refinitiv Lipper reported $600 million of outflows from municipal bond mutual funds as the market correction caught up. High-yield funds lost a massive $722 million after $330 million a week prior.

Illinois' pension crater reaches more than $300 billion under Moody's formula.

Municipal bond issuers in the Southeast sold $76.91 billion of bonds in 1,152 issues in 2020, putting volume slightly ahead of 2019, according to Refinitiv data.

A year after COVID disrupted the markets, Sylvia Yeh and Scott Diamond, co-heads of fixed income at Goldman Sachs Asset Management discuss their strategies for 2021 and the important role of retail, consider the new regime in Washington, and contemplate where ESG fits into their portfolio as the muni market incorporates the burgeoning investor interest in it. Lynne Funk hosts (35 minutes)

The Beige Book suggests the economy is recovering, with optimism for 6-12 months ahead, while economists don't envision inflation rising enough for the Fed to take action any time soon.

Refunding volume swelled in the Midwest by 53% in 2020, driving bond issuance in the Midwest to a 15.8% year-over-year increase, to more than $83.5 billion.