The Treasury Department yesterday auctioned $35 billion of four-week bills at a 0.130% high yield, a price of 99.989889. The coupon equivalent was 0.132%. The bid-to-cover ratio was 3.44. Tenders at the high rate were allotted 24.08%. The median yield was 0.100%. The low yield was 0.050%.
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While the municipal market barely budged following the Fed's decision to cut rates 50 basis points, Thursday saw muni yields rise up to two basis points, depending on the scale, but still lagged the weakness in USTs. LSEG Lipper reported $716 million of inflows into municipal bond mutual funds.
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The Fed's 50 basis point cut surprised many, as a looming federal election and all the uncertainty that brings complicates efforts at forecasting.
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The product is designed to give SOLVE's customers visibility into "next-trade" pricing data for more than 900,000 munis.
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After getting positive outlooks from three rating agencies since 2023, Oklahoma received its first upgrade.
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The agency cited a sustained commitment to healthy reserves and structural balance.
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The plan involves building modern infrastructure and streamlining government operations and delivery of services.
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