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The primary market saw "decent subscriptions" last week, but the entire primary calendar came at "healthy concessions to where evals had been marked on existing bonds," Birch Creek strategists said.
July 21
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A two-year process and a new financing vehicle were needed for the New York Power Authority to price the first prepay energy deal in the state.
July 21
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The week was a long-awaited reckoning with record supply, said Kim Olsan, senior fixed income portfolio manager at NewSquare Capital.
July 18
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Munis are "under pressure as elevated primary supply collides with lackluster seasonal reinvestment flows, leaving dealers heavy and buyers selective," said James Pruskowski, an investor and market strategist.
July 17
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As the market continues to contend with the surge in issuance, investors still have a significant amount of cash that can be put to work, said Jeremy Holtz, a portfolio manager at Income Research + Management.
July 16
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As always, economists had disparate interpretations of the consumer price index, with none expecting a July rate cut. And tariff questions remain unanswered.
July 15
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"The muni market seemed to ignore Treasuries [last] week, marching to its own beat," said Birch Creek strategists.
July 14
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New York issuers lead a $9 billion slate.
July 11
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The comprehensive federal tax bill President Trump signed July 4 is credit negative for universities, Moody's Ratings said.
July 11
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The market has seen some "weirdness" in the muni curve, said Craig Brandon, co-head of muni investments at Morgan Stanley Investment Management.
July 10
