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"This peculiar shape of the muni yield curve has created a conundrum for investors, as all high-quality municipal bonds, with the possible exception of the long end, have become quite rich," Barclays strategists said.
February 10
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Inflows returned as Lipper reported $775.006 million was added to municipal bond mutual funds in the week ended Wednesday after $361.649 million of outflows the week prior.
February 9
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Although there is some volatility in the municipal market, the landscape is in good shape, according to Cooper Howard, fixed income strategist at Charles Schwab.
February 8
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"The market started the year with a reduction of the oppressive pressure caused by last year's heavy net outflows from mutual funds," said CreditSights strategists Pat Luby and Sam Berzok.
February 7
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"We did see some bump in the curve as a result of the FOMC hiking rates by 25 basis points on Wednesday," said Jason Wong, vice president of municipals at AmeriVet Securities. "However, with an unexpected high employment number, fixed-income yields rose."
February 6
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Friday's payrolls "surprised to the upside, with nonfarm payrolls increasing 517,000 last month after an upwardly revised 260,000 gain in December," Barclays strategists said.
February 3
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A few developments in recent sessions "may have staying power should the new outlook on upcoming FOMC actions gain traction," said Kim Olsan, a senior vice president of municipal bond trading at FHN Financial.
February 2
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"Investors are acknowledging that the Fed is nearing the end of its rate tightening cycle which is supporting a relief rally in stocks and lower bond yields, said Bryce Doty, senior vice president at Sit Investment Associates.
February 1
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Total volume for the month was $21.931 billion in 417 issues versus $26.292 billion in 770 issues a year earlier, according to Refinitiv data.
January 31
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Investors will likely sit on the sidelines until after this week's Federal Reserve Board rate announcement.
January 30
