Primary bond market

Despite a short-end U.S. Treasury rally, municipals face pressure on the one- and two-year as participants look to month-end positioning.

The fast pace of the Democratic negotiations may act in muni market's favor.

Volume falls slightly in the week of October 25 with total potential volume estimated at $7.408 billion: $6.036 billion of negotiated deals and $1.372 billion in the competitive market.

Borrowers are enjoying the strongest market in decades while investors are forced to take what they can get.

Municipal bond mutual fund inflows fell to $177 million while high-yield is back to outflows, both signaling selling may be moving the market toward another larger correction.

The Investment Company Institute reported $385 million of inflows while ETFs fell to $124 million.

Wisconsin reported healthier-than-expected fiscal 2021 results that should benefit a new money deal planned for next month.

Spreads have been widening, but secondary trading was on the light side and triple-A benchmarks were cut by only a basis point in spots even as U.S. Treasury yields once again rose on the 10- and 30-year.

Illinois passage of clean energy legislation cleared the deck for AMP Ohio's stalled refunding of Prairie State bonds, but mandates that would force the plant's eventual closure loom large.

Triple-A benchmarks saw one basis point cuts in spots inside 10 years while the five-year U.S. Treasury hit a high of 1.154%.

Several Midwest-based not-for-profit health systems are set to borrow for new or acquired facilities and to refund debt with green bonds and taxables in the mix.

Developers of a $240 million hotel at the U.S. Air Force Academy Visitors Center in Colorado Springs are appealing to investors with an appetite for risk.

Friday’s data suggested inflation remains a problem, as the voices calling for Federal Reserve action increase.

Payments under the opioid settlement are too short-lived to securitize and local government participation remains unclear.

New York’s Hudson Yards development on Manhattan’s West Side was able to cover its debt service obligations despite the effects of the COVID-19 pandemic.

Municipals have mostly held steady as bid-wanteds have risen, but so have yields and ratios, making for a more satisfactory range for investors getting into the market at these new higher levels.

Chicago Mayor Lori Lightfoot's finance team laid out plans to tap more than half of $9 billion of existing and proposed borrowing authority through 2022 to refinance debt for savings and fund infrastructure and pandemic recovery efforts.

With interest rates on the rise, and mom and pop retail expected to become more relevant, there may be an opportunity for issuers to save money in a part of the curve that has been ignored for too long.

Another round of inflows was reported from the Investment Company Institute — the 31st consecutive week — but they came in at $308 million for the week ending Oct. 6, the lowest since outflows in March.

Volatility in the U.S. Treasury market continues to pull on municipal bond valuations, despite little trading volume.