| Government Securities Prices | 10-year: 98 8/32 to yield 1.82, unch 30-year: 96 12/32 to yield 2.93, unch |
|---|---|
| Municipal Bond Index | 128 22/32, down 1/32 |
| The Bond Buyer's 30-Day Visible Supply (as of 08/21) | Total: $8.217 billion, down $37.1 million Competitive: $2.035 billion, up $151.1 million Negotiated: $6.183 billion, down $188.2 million |
| The MuniCenter List | Offering total: $9.407 billion, up $987.7 million |
In her first public appearance since President Trump moved to fire her from the Federal Reserve Board of Governors, Fed Gov. Lisa Cook reiterated her commitment to bringing inflation under 2% and said that the labor market remains "solid."
"Normalized supply, a supportive rate environment and favorable technicals propelled the municipal market to the best October performance [in decades]," said Robert J. Lind.
Attorneys for the Archdiocese said it is "inevitable" bondholders will be hit with a cramdown.
Meanwhile, the Brightline West train project has floated a possible debt exchange ahead of its own mandatory redemption later this month.
Pennsylvania's budget impasse has surpassed four months. Local governments and schools that rely on state funds are getting frustrated.
Next week's issuance is slated to be "substantial" — an estimated $13.1 billion — although that is expected to be met with "solid" November reinvestment capital, J.P. Morgan strategists said.
