FOMC

Logan, 49, currently oversees implementation of the Fed’s monetary policy as manager of the Fed’s $9 trillion securities portfolio and executive vice president of the Federal Reserve Bank of New York, where she has led Market Operations, Monitoring and Analysis since 2012.

Mohamed El-Erian, a closely followed bond-market strategist, says the Federal Reserve has a trust problem with financial markets and the nation over inflation.

Investors pulled more from municipal bond mutual funds in the latest week, with Refinitiv Lipper reporting $2.669 billion of outflows, though down from $2.875 billion of outflows in the previous week.

Outflows continue with the Investment Company Institute reporting $5.371 billion pulled from muni bond mutual funds in the week ending April 27. Exchange-traded funds saw inflows at $1 billion.

The municipal market was marked by some skittishness among investors on Tuesday as a new month gets underway.

Investors will be greeted Monday with a steep drop in volume, with the new-issue calendar estimated at $4.583 billion — less than half of this week's supply.

Lael Brainard was confirmed as vice chair of the Federal Reserve Board of Governors Tuesday in a 52-43 Senate vote, the first of four central bank nominees set for consideration by the chamber.

A trio of COVID-19 cases among Democrats is expected to delay Senate plans to confirm Federal Reserve nominee Lisa Cook and Federal Trade Commission nominee Alvaro Bedoya this week.

“I would say that 50 basis points will be on the table for the May meeting,” Federal Reserve Chair Jerome Powell said Thursday.

The significant cheapening of municipals in recent weeks continues to create headwinds for the overall tax-exempt market on a daily basis.

With the Federal Reserve planning aggressive rate hikes and balance sheet reduction, Dec Mullarkey, managing director of investment strategy and asset allocation at SLC Management, discusses the Federal Open Market Committee meeting minutes, his analysis of the economy and what to expect going forward. Gary Siegel hosts. (33 minutes)

Investors pulled more from municipal bond mutual funds in the latest week, with Refinitiv Lipper reporting $3.247 billion of outflows, of that $1 billion was high-yield. ETFs are still seeing inflows.

Investors pulled more from municipal bond mutual funds as the Investment Company Institute reported $4.5 billion of outflows in the week ending March 30.

Details on how officials expect to proceed are expected to be revealed on Wednesday when the Fed publishes minutes of its March 15-16 meeting.

Outflows continued, with Refinitiv Lipper reporting investors shed $1.503 billion from municipal bond mutual funds in the week, following outflows of $2.136 billion in the previous week. High-yield saw small inflows.

Scott Colbert, executive vice president and chief economist at Commerce Trust Co., will discuss the Federal Reserve's monetary policy decision and where they go from here.

Muni performance has been strong as of late, and spreads have actually corrected after a month of gradual widening.

The U.S. Federal Reserve will need to raise interest rates higher than officials are currently projecting if it is to wrestle inflation back under control, former U.S. Treasury Secretary Lawrence Summers said.

Outflows continued, rising significantly in the latest week, with Refinitiv Lipper reporting $2.136 billion coming out of municipal bond mutual funds, following outflows of $661.675 billion in the previous week.

The Investment Company Institute on Wednesday reported $2.258 billion of outflows in the week ending March 9, down from $3.502 billion of outflows in the previous week.