Markets

Issuers tapping the market in uncertain times, but with certainty of low rates.

With each passing day, fears surrounding COVID-19 elevate as the equity sell-off pressed on. The biggest winners have and will continue to be muni issuers, as they are selling into a record low rate market.

The IRS has informally responded to a letter from NABL asking for a reduction in the high fee it charged for private letter rulings.

Taxable bonds and COVID-19 are two of the main catalysts that helped February municipal bond volume ascend to its highest level since at least 1986.

Moody's Investors Service revised the outlook on Hurley Medical Center's Ba1 rating to positive from stable ahead of a $52 million sale.

Federal Reserve Bank of St. Louis President James Bullard said the Fed is ready to act if the COVID-19 virus develops into a destabilizing force.

Municipal market technicals were already driving performance and so the strong quality bid has deepened the rally across the curve as the asset class really didn’t need to grab the U.S. Treasuries coattails all that tightly.

Issuers of all sizes are taking advantage of the expanding taxable investor base — from institutions to international to SMAs — as the muni market evolves.

Issuers in the Far West sold $85 billion of municipal bonds in 2019, a 23% increase from 2018.

GDP, jobless claims, pending homes sales rise while durable goods orders decline.