Securitization

Municipal bond yields were unchanged at record low levels, according to late reads.

As COVID-19 fears run rampant, investors continued to sell off equities, resulting in muni yields again following Treasury yields down to all-time lows.

The Fitch rating on the bonds, issued as part of the Midwestern Disaster Area authorization, remains deep in junk.

Municipal bonds yields continued their descent and once again rewrote the record books, as the flight to safety on fears of COVID-19 that took place Friday picked up right where it left off.

November's progressive income tax referendum looms large over Gov. J.B. Pritzker's proposed fiscal 2021 budget and the state's long-term fiscal prospects.

Bond yields keep grinding lower ahead of the largest issuance week of 2020, clocking in at $13 billion.

The market got technically stronger and the new-issue calendar builds.

Luis Maizel is co-founder of LM Capital, an employee-owned minority business in California. Maizel, one of the nation’s few Mexican-born fund and income managers, says he doesn’t see a recession coming. He also looks at U.S. GDP, inflation, interest rates and credit spreads amid the uncertainty of the U.S. election and the coronavirus expansion. Chip Barnett hosts.

New deals started to flow in and take advantage of historic lows of muni yields and rates.

Issuance is set to seesaw, as new-issue volume was the heaviest of the year last week, at almost 40% larger than 2019 weekly average. And this is expected to be one of the lowest-volume weeks of the year to date.

Lack of supply continues while professional money keeps market liquid.

The municipal market started off the week like gangbusters, but was ending very quietly on Thursday as the holiday-shortened week approaches.

The municipal primary saw billions of new deals hit the market, but the final yields on the biggest deal of the day result in something that the market hadn’t seen in a while — a repricing to higher yields.

The muni primary saw a flood of issuance on Tuesday, with the majority of it being from Texas issuers including one deal that got majorly upsized.

Issuers are coming to market in droves this week as they try to take advantage of excellent market conditions and get deals done before upcoming holiday shortened week.

Municipal investors should go long as the short end is expensive, strategists say.

It's a win-win situation for both buyers and sellers as volume continues to flow into the market.

The topic of issuer disclosure timing has heated up in recent months, and widened a divide between issuers and analysts.

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.

The muni market was weaker again on Wednesday with yields on the rise, yet that did not slow down the primary. It did not matter if it was tax-exempt or taxable — they were gone in a flash.