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The municipal market has steadied somewhat after muni yields mostly battled those of Treasuries to a draw over the week.
March 22
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Tax-exempt money market funds saw lighter outflows compared to last week, but still lost $684.3 million and saw total net assets decline to $287.30 billion in the week ended March 19, according to the Money Fund Report, a service of iMoneyNet.com.
March 22 -
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When Moody's Investors Service put the short-term credit rating of Bank of America under review for a downgrade back in February, that stirred up the water for tax-exempt money market funds.
March 21
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Table as of: 03/16/2012 13:05 PM Invisible Supply Issuer and purpose Amount
March 19 -
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Municipal bond investors have long known that annual appropriation-type debt, such as certificates of participation, are inferior debt structures. Those investors who bought them had faith at the time in the issuer's responsibility to stand behind the debt.
March 16
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Investors in the municipal market are starting to come to terms with higher yields for primary volume.
March 16 -
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In a week that very well may have marked the end to five months of rallying for municipal bond yields, muni bond mutual funds still saw strong inflows.
March 15 -
Spring is definitely in the air on Wall Street, with a particularly sunny view toward equities. But for munis and Treasuries, with yields rising rapidly in the wake of a robust risk-on trade, the outlook has been much gloomier.
March 15
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