| Government Securities Prices | 10-year: 98 22/32 to yield 2.40%, up 4/32 30-year: 99 30/32 to yield 3.00%, up 12/32 |
|---|---|
| Municipal Bond Index | 123 19/32 down 1/32 |
| The Bond Buyer's 30-Day Visible Supply (as of 3/27) | Total: $10.945 billion, up $277.1 million Competitive: $3.248 billion, up $151.9 million Negotiated: $7.697 billion, up $125.2 million |
| The MuniCenter List | Offering total: $14.377 billion, down $13.5 million |
The revised bill removes provisions creating state-backed credit enhancement for affordable housing bonds, calling instead for a study of housing finance tools.
Moody's Ratings cited the increasing likelihood the federal government won't continue leasing the current Washington, D.C., headquarters for NASA.
California's fall issuance plans bring a big name into the market at a time when high muni issuance levels have withstood higher interest rates.
It's no surprise that munis are in a "holding pattern," Charles Schwab's Cooper Howard said, as investors are eager to hear Fed Chair Kevin Warsh's speech on Friday.
"Assured has signaled that it's willing to engage in this process not like a traditional insurer but rather more akin to a value-maximizing market participant," an analyst said.
Thursday's move marks another formal step back from a water supply crisis that has negatively impacted the city's bond ratings.
