| Government Securities Prices | 10-year: 101 28/32 to yield 2.16, down 5/32 30-year: 103 20/32 to yield 2.94, down 13/32 |
|---|---|
| Municipal Bond Index | 127 3/32, down 9/32 |
| The Bond Buyer's 30-Day Visible Supply (as of 10/17) | Total: $10.566 billion, up $1.297 billion Competitive: $2.136 billion, up $138.3 million Negotiated: $8.430 billion, up $1.159 billion |
| The MuniCenter List | Offering total: $9.369 billion, up $1.017 billion |
Muni yields are succumbing to a "domino effect," said Kim Olsan, portfolio manager at NewSquare Capital.
A three judge panel upheld a lower court rejection of the bondholders' suit against Puerto Rico's central government.
Maryland enters the data center regulation movement as Governor Wes Moore signs an executive order and signals an end to sales tax exemptions.
The selloff in munis this week is "against a backdrop of historic bid wanted in competition volume, continued rate volatility, tax-loss selling [and] unfavorable technicals," said J.P. Morgan strategists.
"We believe strongly in these sectors, and they are poised for even more growth," Bo Daniels, Loop Capital's head of public finance, said in a statement.
The deal, set to close in the coming weeks, adds a group of capital markets and other market professionals, according to a press release.
