Municipal bond funds

A day after a big correction, the White House sent mixed signals on Friday setting up a possible flight-to-quality for munis next week.

After seeing a whopping $52 billion of new issuance in October, the new paper will continue to flood the market during the busiest week of the year.

With interest rates likely to fall lower after Fed policy makers meet, already favorable market conditions for municipal issuers will get even better.

The new wave of bond issuance continued unabated as more sales priced on Wednesday.

Although the supply/demand ratio is still lopsided, the recent surge had made things a little more balanced.

The last of the week’s big new issues hit the screens on Thursday.

Supply surged into the municipal market on Wednesday with California and New York issues taking top spot.

Rampant issuance continues with $12.4 billion, heavy on taxable deals. Meanwhile, the end of this volatile week had the secondary getting whacked with AAA benchmarks showing big cuts.

Issuers from New York, Florida and Nebraska offered buyers notes, bonds and taxable deals.

Paul Malloy, head of municipals and credit research at Vanguard, tells why investors should take the long view to achieve relative value in munis as the year ticks on. Chip Barnett and Lynne Funk host.

Competitive issues dominated Wednesday’s calendar with issuers from Nevada, Texas and New Jersey leading the pack.

The Big Apple was a big presence in the market on Thursday as it sold almost $1 billion of taxable and tax-exempt general obligation bonds.

Municipal bonds were on the move Wednesday as two big issuers came to market with over $1 billion of transportation bonds.

As we enter the fourth quarter, municipals continue their remarkable performance with the market continuing to follow trends of demand outstripping supply and inflows into the asset class.

Most of this week’s municipal bond deals were well received, according to Peter Delahunt of Raymond James.

The primary market was somewhat stagnant after the FOMC but things should revert back how they were before — with most deals getting put away quickly.

Bank holdings in municipal securities continue to decline, as retail investors and mutual funds increase their holdings.

Municipal bond yields moved lower in secondary trading as some big deals were sold.

Municipal yields and issuance plans both rose, showing market participants aren't uncertain about the meeting, with a quarter point cut in interest rates baked in.

Municipal traders and managers said the tax-exempt market’s early strength translated into weakness before the end of trading — due to taxable and overseas influences.