Secondary bond market

Municipal bonds finished a very active week little changed as participants caught their breath after seeing almost $12 billion of new issues come to market.

Refinitiv Lipper reported $1.7 billion of municipal bond fund inflows. while municipal prices were little changed Thursday.

Matt Boardman, head of fixed income for RBC Wealth Management, talks with Chip Barnett, about how the municipal bond market has changed over the past few months in light of the coronavirus pandemic. He talks about how the economic effects due to COVID-19 caused a "sudden and violent" dislocation in munis for over two months and how we’ve now returned to being a more rational and reasonable market and remains vibrant and strong.

The day's big new-issue slate was led by the pricing of the New York State Urban Development Corp.'s $1.3 billion deal.

Municipals finished weaker on Tuesday amid Treasury weakness and equity strength.

With almost half of June being done and dusted, yield movement is nearly unchanged from May’s closing levels, sources said.

New York, Texas and Pennsylvania issues headline the new-issue slate.

Yields on the long end of the curve dropped as much as seven basis points while very short yields rose.

Asset managers maintain key strategies, but take advantage of post-pandemic opportunities amid overall stabilization.

Lynn Martin, president & COO of ICE Data Services, also owner of the New York Stock Exchange, talks about ICE's role in pricing, its municipal evaluation services and just how the municipal market itself is resilient. Chip Barnett, senior markets reporter hosts with another Lynn(e), innovation editor at The Bond Buyer.