The Bond Buyer’s weekly yield indexes declined this week as the municipal market rallied behind the economic warning the Federal Open Market Committee sounded Tuesday to end a weeks-long pattern of losses.
“It looks like we’ve reversed the pattern of earlier September and we’re back in rally mode again,” said Michael Pietronico, chief executive officer at Miller Tabak Asset Management. “You can look to that Fed statement as the catalyst. It caught some people off guard. Now it seems as if retail is engaged and putting money to work.”