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Elevated new issues, Federal Deposit Insurance Corp. sale lists, and heavy reinvestment cash "helped to offset each other [last] week and keep the muni market stable," said Birch Creek strategists.
June 12
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Federal Reserve data shows that retail ownership of municipals rose $58.8 billion, or 3.7% quarter-over-quarter, to $1.67 trillion. Bank ownership fell in the first quarter by $13.3 billion.
June 12
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Municipals have continued outperforming, "building on the trend that started in late May," Barclays strategists Mikhail Foux, Clare Pickering and Mayur Patel said.
June 9
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City finance officials report that its recent $1.56 billion general obligation bond sale was more than six times oversubcribed.
June 9
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"How fund flows end up shaping up this week is going to be very meaningful for how we start the summer," said Tom Kozlik, managing director and head of public policy and municipal strategy at HilltopSecurities.
June 8
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The Investment Company Institute reported investors pulled another $374 million out of municipal bond mutual funds in the week ending May 31, after $671 million of outflows the previous week
June 7
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"June started out fairly strong for the municipal market as the relative cheapness attracted investors looking for an opening to start buying bonds at higher yields," said Roberto Roffo, managing director and portfolio manager at SWBC Investment Company.
June 6
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The Housing Development Corp. will come to market with almost $1 billion of sustainable development bonds to fund new housing projects in the city.
June 5
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The system is incorporating some floating-rate risk into its fixed-rate debt portfolio to allow for strategic flexibility after its new hospital campus opens.
June 5
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Last week, munis underperformed the Treasury market "across the curve through Thursday with yields lower just 13bps," according to Birch Creek strategists. However, they said Friday's rally "in the front end helped pull shorter maturity munis ahead."
June 5
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For the coming week, investors will be greeted with a new-issue calendar estimated at $8.213 billion.
June 2
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Reinvestments, which includes maturities, called bonds and coupons, total over $114 billion over the next four months, according to ICE Data.
June 2
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Outflows continue as Refinitiv Lipper reported investors pulled $1.345 billion from municipal bond mutual funds for the week ending Wednesday.
June 1
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Strength that began on Tuesday and continued Wednesday marked the first sessions since early May for positive performance after a hefty selloff, noted Kim Olsan, senior vice president at FHN Financial.
May 31
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From the battlefield to the boardroom, military veterans are making their mark in the financial services industry today. Hear their stories in this special podcast featuring Academy Securities, AmeriVet Securities, Bancroft Capital, Drexel Hamilton, Mischler Financial Group and Roberts & Ryan. Chip Barnett hosts. (45 minutes)
May 31
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Despite the firmer tone Tuesday, May performance has put munis on track for their worst May since 1986.
May 30
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The U.S. economy is "too resilient and this will force the Fed to not only deliver more tightening but also to keep rates higher for much longer," OANDA's Edward Moya said. NYC and Connecticut GOs on tap.
May 26
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Refinitiv Lipper reported $847.068 million of outflows from municipal bond mutual funds, $420.675 million of which was high-yield.
May 25
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The Investment Company Institute reported investors pulled another $137 million out of municipal bond mutual funds in the week ending May 17, after $290 million of outflows the previous week.
May 24
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New York City is keeping a wary eye on Congress as it considers whether to pause a refunding deal set for next week.
May 24
