Buy side

Mary Colby, who retires from Charles Schwab Investment Management after 30 years in the muni industry, fought for more extensive disclosure for investors.

The Spotlight Dealer Diversity Program, an initiative to highlight firms owned by women, veterans, people with disabilities and individuals of underrepresented racial and ethnic groups, aims to promote them in Tradeweb’s platforms.

Disclosure around ESG-related risk factors to credit as well as for ESG-labeled bonds remains a mixed landscape that reflects the heterogenous nature of the muni market itself.

Municipals head into the final week of the first half of 2022 on more stable footing, but a cautious tone hangs over the market.

Analysts uncertain about the timing and cost savings as FAFAA names syndicate for possible refunding.

Investors will be greeted Monday with an increase in supply with the new-issue calendar estimated at $6.488 billion, led by $1 billion-plus of GOs from Maryland in the competitive market.

The seasonal factors of a supply and demand mismatch, reinvestment needs and strong credit fundamentals, have opened a window of opportunity.

While only 12% to 15% of municipal bond trading volume is performed electronically, various market participants say the time to embrace new technologies is now.

Despite compelling yields and ratios, buyers continue to be selective. Even if rates stabilize, municipal investors will likely be cautious for some time, waiting for fund outflows to abate, strategists said.

Valuations look increasingly attractive relative to other fixed income asset classes, even as rising interest rates continue to weigh on the market, strategists say.

In the week ending April 13, investors pulled $5.526 billion from the funds, down from $7.227 billion of outflows in the previous week, ICI reported.

ESG investing has grown complex enough that it’s time we recognize what strategy or product is best suited for a given situation.

The second quarter should bring more opportunity and less volatility following the worst quarter in four decades, analysts said.

Investors pulled more from municipal bond mutual funds as the Investment Company Institute on Wednesday reported $4.786 billion of outflows, up from $4.459 billion of outflows in the previous week.

Raymond James has agreed to acquire SumRidge Partners, a fixed income market maker dealing in investment-grade and high-yield municipal bonds.

Nuveen is asking a judge to toss Preston Hollow Capital's defamation claims as a summer trial looms.

Lloyd Nemerever will lead portfolio management for the firm's municipal bond-focused separately managed accounts.

The 18-member group will be headed by Eric Scroggins, co-head of debt advisory and restructuring, and Bill Reisner, head of public finance investment banking.

A new report from Merritt Research Services looks at potential post-pandemic problems for big cities that rely on taxes from commercial real estate.