Fixed income

The bill passed through the committee on a 21 to 17 vote, over fierce Democratic opposition.

Ellis Phifer, managing director and senior strategist in the fixed income research department at Raymond James, talks with Chip Barnett about the state of the bond markets. (Taped Feb. 16; 15 minutes)

The 10- and 30-year Treasuries haven't reached these levels since November.

BVAL marketed its bond valuation methods as sophisticated but sometimes based the valuation on a single broker quote, the SEC said.

Munis saw the best performance in November in decades, with the asset class ending in the positive by 4.68%. The MSRB reported that trading volume reached another record in November, with 1.29 million municipal trades.

Refinitiv Lipper reported $2.537 billion of outflows from municipal bond mutual funds for the week ending Wednesday after $2.389 billion the week prior.

"Municipal market performance has improved, but the bumpy road continues as investors remain uncertain about the interest rate environment," said Nuveen's Head of Municipals John Miller.

New-issue volume grows to $10.7 billion led by a $2.7 billion taxable Massachusetts ESG deal, $1.35 billion of Oklahoma natural gas taxables, $1.25 billion from the Regents of the University of California and $1.1 billion from New York City.

John Luke Tyner, fixed income analyst at Aptus Capital Advisors, discusses yield curve inversion with Bond Buyer Managing Editor Gary Siegel. Tyner looks at recession possibilities and how the Federal Reserve’s actions will impact the economy, the yield curve and recession. (23 minutes)

As investors shift the focus from inflation to recession concerns, fixed income markets, including munis, may regain some of the year's losses.