| Government Securities Prices | 10-year: 98 28/32 to yield 2.38%, up 6/32 30-year: 100 10/32 to yield 2.98%, up 12/32 |
|---|---|
| Municipal Bond Index | 123 31/32, up 12/32 |
| The Bond Buyer's 30-Day Visible Supply (as of 3/28) | Total: $11.052 billion, up $106.6 million Competitive: $3.195 billion, down $53.7 million Negotiated: $7.857 billion, up $160.3 million |
| The MuniCenter List | Offering total: $14.703 billion, up $325.5 million |
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.
The Texas city's property tax-backed debt offering will be sold competitively on Sept. 22, according to a draft preliminary official statement.
