Primary bond market

The collapse of Silicon Valley Bank and Signature Bank clouds the economic landscape and complicates monetary policy decisions but it's a long way off from the troubles banks and broker-dealers faced in the 2008 financial crisis.

Outflows continued as Refinitiv Lipper reported $461.123 million was pulled from municipal bond mutual funds in the week that ended Wednesday after $307.815 million of outflows the week prior.

"The main question for investors recently has been: will we see bank selling of municipals that exerts pressure on the market, and what kind of market effects could occur," Barclays strategists said.

"The muni market is no different than others, where fear and greed drive the trends," said Peter Delahunt, StoneX's managing director.

The transportation revenue bond sale comes as legislative work on a new budget package is ramping up with the GOP expected to craft its own operating and capital spending plans.

Triple-A benchmarks have fallen five to 10 basis points, depending on the scale.

Investors will be greeted Monday with a new-issue calendar estimated at $6.041 billion.

A $3.52 billion Texas Natural Gas Securitization Finance Corp. deal includes a make-whole redemption over three years to call bonds if the state appropriates funds to pay them off.

Outflows continued as Refinitiv Lipper reported $307.815 million was pulled from municipal bond mutual funds in the week that ended Wednesday after $905.030 million of outflows the week prior.

Outflows lessened, with the Investment Company Institute reporting investors pulled $344 million from mutual funds in the week ending March 1, after $1.148 billion of outflows the previous week.

The two-year UST is now a full point above the 10-year UST, something that hasn't happened since 1981.

Federal Reserve Chair Jerome Powell will testify beore Congress twice this week and Friday brings the latest employment report.

The "week's substantial primary market calendar of $10-plus billion will be a big test for where market demand stands," said Tom Kozlik, head of public policy and municipal strategy at HilltopSecurities Inc.

The 10- and 30-year Treasuries haven't reached these levels since November.

Outflows returned, with the Investment Company Institute reporting investors pulled $1.148 billion from mutual funds in the week ending Feb. 22, after $931 million of inflows the previous week.

The 514-bed hospital in Boston's South End is taking on the new debt as it pushes for net-zero emissions at all of its facilities by 2030.

Facing calls to disqualify six more underwriters from negotiated bond sales, the state Bond Commission opted to sell GOs competitively.

The bond markets are witnessing a rare situation that could hinder spending on infrastructure projects around the country, said Amanda Hindlian, president of fixed income and data services at ICE.

Total volume for the month was $18.303 billion in 391 issues versus $31.602 billion in 877 issues a year earlier, according to Refinitiv data.

The availability of higher yields has brought some investors into the market — even though volume in the primary and secondary markets are on the thin side and the municipal market is a bit of a mixed bag right now.