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BATA brings a refunding deal to market next week, buoyed by a financial position that stood up to the stresses of the COVID-19 pandemic.
February 25
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The deal was the largest in the authority’s history, with the lowest ever interest rate for one of its sales and netting a record-breaking $112 million in interest cost savings.
February 24
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Global bond yield move suggests financial markets are much more optimistic about the economy than the Fed.
February 24
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High-grade deals priced and secondary trading showed bonds exchanging hands at yields higher than triple-A benchmarks in some cases, but a healthy two-way flow was evident, even if there are signals that yields have not yet hit a ceiling.
February 23
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The COVID-19 pandemic didn't delay the deal but it did influence the structuring of the new money and refunding deal.
February 23
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Data released Monday showed economic strength with further improvement ahead. U.S. Treasuries were off by five basis points but municipals saw aggressive eight to 10 basis point swings to higher yields across the curve.
February 22
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Muni yields rose another five basis points on the 10- and 30-year, bringing the total cuts to scales to 18 and 17 basis points, respectively, from Tuesday as the asset class moved closer to UST movements after lagging that market since the start of the year.
February 19
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Muni yields have climbed double-digit basis points in a week but technicals remain strong. Refinitiv Lipper reports $1.96 billion of inflows into municipal bond mutual funds.
February 18
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The city, struggling amid a pandemic-induced deficit, received a negative outlook from Kroll Bond Rating Agency ahead of the deal.
February 18
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The municipal secondary gave way to higher-yields and triple-A benchmarks rose two to five basis points. U.S. Treasuries pared back Tuesday's losses, even on the heels of better economic data.
February 17
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With the U.S. Treasury sell off, municipal to UST ratios fell below 55% in 10-years.
February 16
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The COVID-19 pandemic threw the economy into disarray, creating uncertainty in so many areas, and economists still don’t agree on the future of inflation. But they agree the Fed will need to adjust when the economy starts to improve.
February 12
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While most observers expect inflation to grow as the economy heals, the latest CPI numbers suggest that it hasn't yet arrived.
February 10
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Even if there was some hesitation in the past few sessions to accept lower municipal yields given rich valuations, municipals continue grinding lower. One- and two-year AAA yields hit record lows of 0.06% and 0.08%, respectively.
February 9
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The state plans a series of municipal bond sales with tailwinds from upbeat fiscal news, including its first surplus on a GAAP basis.
February 9
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Why has inflation remained low and how will the economic recovery impact it? Several experts offer their views as to whether inflation is or will be a problem.
February 8
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The taxable refunding will lower debt service obligations for the airport car rental facility, hit hard by the coronavirus pandemic, through fiscal 2025.
February 8
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Taking advantage of low rates, the state's School Bond Authority is selling the largest bond issue in its history to refund outstanding debt.
February 8
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The January employment report headline number disappointed while stimulus news lifted equities and U.S. Treasuries rose on both counts. Municipals ignored those moves ahead of another week of less-than-ample supply.
February 5
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The Motor City's spread penalties were reduced by more than half compared to its previous sale in October in a deal that was oversubscribed by 20 times.
February 5
