Primary bond market

Bond yields keep grinding lower ahead of the largest issuance week of 2020, clocking in at $13 billion.

The $5.2 billion Buckeye Tobacco Settlement Authority deal will restructure the debt service schedule, returning the Ohio credit to investment-grade.

The market got technically stronger and the new-issue calendar builds.

Luis Maizel is co-founder of LM Capital, an employee-owned minority business in California. Maizel, one of the nation’s few Mexican-born fund and income managers, says he doesn’t see a recession coming. He also looks at U.S. GDP, inflation, interest rates and credit spreads amid the uncertainty of the U.S. election and the coronavirus expansion. Chip Barnett hosts.

Gov. J.B. Pritzker unveiled a $42 billion general fund budget for fiscal 2020.

New deals started to flow in and take advantage of historic lows of muni yields and rates.

Issuance is set to seesaw, as new-issue volume was the heaviest of the year last week, at almost 40% larger than 2019 weekly average. And this is expected to be one of the lowest-volume weeks of the year to date.

A wide variety of muni bonds are being offered to buyers this week as issuers take advantage of high demand and low rates.

Lack of supply continues while professional money keeps market liquid.

A nonprofit corporation will use the taxable and tax-exempt bonds to buy or refinance 28 skilled nursing facilities in Oklahoma and Texas.