Buy side

"In our view, the worst for munis is behind us, at least for now; tax-exempts might continue to outperform, but only to a degree as technicals will remain somewhat challenging," Barclays strategists said.

Federal threats to grants and the tax exemption continue to push universities to the bond market. This week, it was MIT, Yale, and Suffolk University's turn.

The recent firmness in the market has been "much appreciated," said Shannon Rinehart, senior portfolio manager of municipal debt at Columbia Threadneedle Investments.

The bonds have not reacted to the most recent negative ratings actions, although one buysider said that may soon change.

Muni yields remain attractive, said Tom Kozlik, managing director, head of public policy and municipal strategy at HilltopSecurities.

Harvard University's ongoing legal battles and the return to market by Chicago's Regional Transportation Authority lead a host of municipal topics in April.

Most of the Maryland Proton Treatment Center's debt hasn't traded hands for years.

The "Golden Age of Public Finance," as it was called by industry pundits, is likely to face significant changes under the Trump administration.

The well-known muni strategist said he's pursuing "more market-related opportunities."

Industry leaders at The Bond Buyer's Texas Public Finance event discuss how tax policy threats, tariffs, and federal budget cuts could create a new paradigm for muni borrowing costs and credit resilience.

The city of Los Angeles and its Department of Water and Power face Palisades Fire-driven lawsuits from some 776 plaintiffs, according to the offering document.

The escalating dispute between the prestigious issuer and the White House is spooking some bond holders and creating opportunities for others.

Citi's exit may have aggravated illiquidity last week, but even the traditional leader in times of stress wouldn't have been able to calm the wild market moves.

If the muni market "stays here at these new relationships, we'll find its footing," said John Flahive, head of fixed income at BNY Wealth.

Jason Appleson of PGIM Fixed Income chats with Caitlin Devitt to break down the biggest factors shaping the muni market today, and how institutional investors are preparing for what's next.

"Anytime you get a market off 50 basis points in a day, the bulk of that move is being driven by fast money and the fast money is in ETFs," said Michael Pietronico, CEO at Miller Tabak Asset Management.

From 90 basis points of movement in three days to rising ETF influence and potential tax status changes to municipal securities, this timely discussion from Thursday's Texas Public Finance event features real-time analysis and sharp insights from muni leaders at Morgan Stanley, BlackRock, Nuveen, Truist, and PFM.

Speaking live at The Bond Buyer's Texas Public Finance Conference in Austin, leading muni voices broke down the historic rate swings that rocked the market this week, the growing impact of investor behavior, and the uncertain path ahead for tax policy — offering candid assessments, sharp data points, and diverging views on what investors and other market participants should expect next.

The Bond Buyer took the pulse of municipal bond market pros to see what they are doing and advising in the midst of the volatility driven by President Trump's shifting tariff policies.

Municipal AAA yield curves were cut up to another 42 basis points, depending on the curve, as of noon, pushing yields to multi-year highs and long-end muni to UST ratios above 100%. Muni yields have risen up to nearly 100 basis points in spots since the bond market rout began.