Municipal bond funds

Trading showed firmer prints, with Georgia general obligation bonds, Maryland GOs and Los Angeles Department of Water and Power bonds trading up.

As most participants await Friday's jobs report, the municipal market Thursday sustained a firm tone as rates remained on a gradual path of decline.

Federal Reserve Bank of Chicago President Charles Evans says monetary policy will need to remain “accommodative for quite a while,” since inflation won’t hit a 2% average for “a long time.”

The new-issue calendar builds from almost nothing to $2.4 billion in the first week of the New Year, with deals ranging from education to taxables to social bonds on tap for investors.

After one of the worst sell-offs in municipal market history as COVID-19 began its rampage in March, the market rebounded to set the all-time record.

Dominick D'Eramo, head of fixed income at Wilmington Trust Investment Advisors, talks with Chip Barnett about how the municipal bond market did in 2020 and what may be on tap for munis in the new year. (12 minutes)

Municipal bond funds saw $2.086 billion of inflows in the week ended Dec. 22, the Investment Company Institute reported Wednesday after a $2.517 billion inflow the week prior.

The muni market headed into holiday hibernation on the last full trading day of the week.

Munis were flat Monday as the entire curve was said to be undergoing a consolidation.

The Investment Company Institute reported municipal bond funds saw $2.675 billion of inflows in the latest reporting week.