NEW YORK – The Federal Reserve announced today it will set a 0.25% minimum bid on its $75 billion 28-day Term Auction Facility credit selling today.
Results will be announced at 10 a.m., Eastern time, on Tuesday, with Thursday as the settlement date. The loan matures Oct. 22.
The Fed set a minimum bid amount of $5 million per bid, with a maximum of $7.5 billion per institution.
All sectors of the muni market posted gains in April, Kim Olsan wrote, exemplifying the market's better-than-expected resilience.
Last year, 23 active ETFs launched along with nine passive ones. While the first quarter of the year bucks that trend as one active ETF launched compared to three passive ones, things could change the rest of the year, analysts say.
Fitch Ratings on Monday echoed a prior move by Moody's Ratings to revise the state's outlook to negative.
Muni advocates are watching Congress move towards a second reconciliation bill that may not require any provisions that pay for funding DHS, and the possibility of a third, tax-focused bill.
Veteran public finance banker Shawn Dralle has joined Los Angeles County as assistant-treasurer tax collector.
With no rate change expected, analysts look at Fed chair nominee Kevin Warsh and how investors should position.
