State of Texas

The muni market was weaker again on Wednesday with yields on the rise, yet that did not slow down the primary. It did not matter if it was tax-exempt or taxable — they were gone in a flash.

After a record year of sales tax revenue, Texas continued to grow collections in the first month of 2020.

The municipal market has been on a tear in terms of fundamentals and technicals that are driving the market and there isn’t much in the near-term likely to stymie that tone.

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.

On heels of a successful GO deal on Wednesday, the market was hit with more Chicago paper as the city's STSC deal saw ample demand.

Chicago GOs were upsized and repriced on Wednesday to bump yields as indications of interest were taken on the Sales Tax Securitization sale.

The muni market saw a handful of deals price while the market strengthened ahead of the bellwether deals that come Wednesday and Thursday.

It has been a couple of years since the market has seen an active January to start the year.

Demand for municipal bonds is much stronger in 2020 than it was to end 2019, illustrated by record inflows into the asset class in the latest reporting week.

The muni market saw the last issuance of the week come and go; the front end of the curve were stronger than the long-end.

It's been a few weeks since the market has seen "normal" issuance, but investor demand picked up right where it left off before the holidays.