Secondary markets

The MSRB has issued a warning that with the rise in interest rates in recent months, bonds trading at a discount may be less liquid than those trading at par.

A consildated effort is needed for better transparency of pricing in the municipal market, especially for retail investors.

The creation of the Municipal Liquidity Facility helped not only eligible entities but also those left out of using the program.

Cyberattacks are increasingly likely as more government employees work from home due to the coronavirus pandemic, analysts said.

The responses to requests for quotes in the secondary market increased almost doubled in 2018 compared to 2015.

Despite criticism, the Municipal Securities Rulemaking Board said the calculator will help track the timeliness of secondary market disclosures.

Phil Toews, CEO of Toews Corp., talks about all the recent market turmoil and what it means for the municipal bond market in general and high-yield munis specifically. Chip Barnett hosts.

State and local governments have increasingly filed COVID-19-related disclosures to the market, but only about 931 issuers out of roughly 40,000 have filed over 1,500 material event notices and continuing disclosures since the pandemic began.

Issuers bringing taxable deals this week should see robust buying interest as the strong performance of the corporate market has pushed yields down, making double-A taxable municipal bond yields attractive for corporate investors in the 21% tax bracket.

In a letter sent to the Fed Thursday night, House Financial Services Committee Chairwoman Maxine Waters said she wanted more issuers to participate in the Fed program.

Most of the disclosures tracked since the beginning of the year were filed in March, the MSRB said.

In a letter, three issuer groups made specific recommendations to the Federal Reserve and Treasury.

In the MSRB’s first report showing data from March 24, trades topped 87,215, which is likely a record, said Marcelo Vieira, MSRB director of research.

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Career veterans call fallout from COVID-19 concerns on the municipal market worse than that of 9/11 and the 2008 financial crisis combined.

Sources say action on the SEC's proposed exemptive order has slowed, though it could garner attention at next week's conference.

Walter told The Bond Buyer she has been hearing the same push for transparency since her start at the SEC.

The SEC said that the timeliness of disclosures is a “major challenge” in the secondary market for municipal securities.

The submission calculator received criticism from issuers and analysts with some saying it isn't ready for "prime time."

Paul Daley, managing director of BondWave’s Information Lab, talks about how big data can be made more accessible and valuable to users. He details his examination into a Pacific Gas and Electric bond as a way to illustrate how drilling down into this information can help participants in a fast-moving market. Chip Barnett hosts.