Secondary bond market

Municipals continued to correct, with yields on the AAA scales rising by as much as three basis points as signs point to investor pullback from current low yields.

Municipals were steady on Thursday a day after turning weaker for the first time in almost two months. Refinitiv Lipper reported $2.3 billion of inflows.

Municipal yields rose as much as four basis points on Wednesday, while new issues played the field.

Municipal bonds were steady to weaker as billions of dollars in new deals hit the screens Tuesday.

The total number of COVID-19 disclosures reported to EMMA for the week ending Aug. 9 was about 700, down from nearly 1,000 the previous week.

Now investors have hit the reset button on municipal credit expectations and the corresponding return in demand has been quite strong.

Moody's Investors Service says the appellate court decision could impede the state government's flexibility in dealing with coronavirus-driven budget woes.

Municipals rallied Friday, with yields dropping by as much as one basis point on the long end.

Munis rallied all along the curve Thursday, with long end yields down by as much as four basis points.

'How long, and how deep this will be?' Taxables, election, low-interest rates — how do these issues affect our market? Sylvia Yeh of Goldman Sachs Asset Management talks to Lynne Funk, innovation market editor (25 min)