State of Texas

Municipal bond buyers will see a $7 billion new-issue calendar ahead.

It was a record day in the market in a couple of different ways, as yields descended further to new record lows on both the 10- and 30-year and the market saw the lowest yield ever for a century bond.

Despite tax-exempts being expensive, strong technicals are likely to extend into February.

Debate over taxables, climate, ESG, possible infrastructure bill hang over 2020.

The muni market strengthened, following treasuries, as yields continued to drop.

With demand at an all-time high and record inflows that is continuing to come into the market, one would think there would be more issuance.

A mixture of taxable and tax-exempt deals priced into a market flush with cash. Muni yields continued to descend, as they moved three basis points lower today.

Large taxable deals fare well while gilt-edged Delaware yields track in line with AAA benchmarks in competitive deal.

After returning north of 7% in 2019, the municipal bond asset class continues to see strong returns so far in 2020.

Although municipal bond volume is expected to rise by almost $2 billion, it won’t be nearly enough to satisfy investors’ thirst for the asset class.