Taxable bonds

January issuance declined by 14.7% year-over-year amid a rising-rate and volatile environment.

Skokie held on to its double-A tier ratings as it preps a pension obligation bond issue to bring its public safety pension funding ratios to 90%.

The U.S. Treasury selloff caught up to tax-exempts with two to three basis point cuts to scales, but munis still outperform.

Municipals triple-A benchmarks continue the trend of ignoring other markets to start 2022. The new year will likely usher in slower growth and continued inflationary pressures, analysts said.

2022 volume projections are clouded by many uncertainties. What is not murky is that demand for municipals is unlikely to fade.

Chicago's captured a new low in recent history on tax-exempt spreads but the taxables, which were downsized by $500 million, faced a tougher road amid Treasury volatility.

Total November volume was up 58.3% to $33.818 billion versus $21.359 billion a year earlier, but the figure is average over a 10-year period. A combination of factors from policy uncertainty in Washington to fears of rising rates led to the increase.

A majority of firms anticipate less volume in 2022 than the record hit in 2020, but how policies from Washington and the path of overall economic activity in a still-recovering global economy with COVID overhang make predicting volume more difficult.

The Thanksgiving holiday-shortened week, next-to-no supply and few economic data releases should keep munis steady.

The speculative grade bond sale is part of the financial process of returning the Phoenix-based university to nonprofit status after years as a for-profit.