Manufacturing industry

The privately placed taxable bonds to be issued through Bernalillo County will help finance a manufacturing facility for Ebon Solar.

Despite a short-end U.S. Treasury rally, municipals face pressure on the one- and two-year as participants look to month-end positioning.

The broader market awaits Friday’s nonfarm payrolls report, but Thursday brought some helpful labor news — unemployment claims dropped to the lowest since before the pandemic-caused economic shutdowns and layoffs plunged in June.

Refinitiv Lipper's $1.85 billion of inflows say investors aren't going anywhere.

Tuesday’s data may not be indicative of where the economy is going and will likely be written off by the Federal Open Market Committee at its meeting, analysts say.

The fundamentals of the muni market have investors stuck in a low-rate environment without much of an alternative. Refinitiv Lipper reported $1.466 billion of inflows into municipal bond mutual funds with $813.8 million into high-yield.

Analysts are taking the view that muni investors expect higher taxes and are brushing off inflation concerns. U.S. Treasuries are another story.

Yields jumped as much as 10 basis points as new deals saw some concessions as munis played catch up to the run-up in U.S. Treasury rates after the 10-year hit 1.75% mid-session. Refinitiv Lipper reports nearly $1.3 billion of inflows.

Institutional pricing of New York City and competitive deals from Baltimore and Cambridge, Mass., should help give a sense of where yields are heading, while Ohio offers up GOs for a market that's been little changed for three days after a large sell-off.

The sell-off in the back half of February brought negative 1.59% returns for the month and a negative 0.96% return for the year so far. Taxables and high-yields fared slightly better.