Markets

A hearing on the borrower's motion to dismiss is set for July 15.

Market Intelligence analyst Jeff Lipton breaks down why munis became the fixed-income standout in 1H 2026, as tax-exempt income, SMA demand, healthy supply-demand dynamics, curve positioning, active security selection and spread compression offset geopolitical volatility and shifting Fed expectations.

Declining tender activity stems largely from higher interest rates, and a higher-for-longer interest rate environment is expected to "keep a lid" on any tender resurrection, said Jeff Lipton, market intelligence analyst at Bond Buyer.

The buy-side of the muni market is awaiting higher supply, SWBC's Chris Brigati said.

Deals that offer some value and spread opportunities will be well-received, while those that are less attractive or higher quality might face some challenges in certain parts of the curve, said Jeff Timlin, managing partner and head of municipal bond investing at Sage Advisory.

The MBTA may be moving past its days of literal train wrecks, but creating a better system is costly.

The muni market is poised for a strong week, Peter DeGroot wrote for J.P. Morgan, with a "manageable" new-issue calendar, near-record inflows year-to-date and July redemption money.

The first tobacco bond payment default raises the prospect of additional isolated failures, but not a systemic sector collapse, according to Market Intelligence analyst Jeff Lipton, highlighting how vintage, lien, turbo and reserve features can produce sharply different cash flow and liquidity outcomes.

Figuring out a way to account for the shift in market demographics is crucial to the long-term future of the muni market, but it doesn't appear to be a priority.

A number of factors are driving rate volatility, but the muni market is better positioned for a strong summer than it has been in a decade, according to Hennion & Walsh's James Pruskowski.