The municipal bond market is observing a steady tide as investors focus on several key new issues while responding to a decrease in U.S. Treasury yields. This comes at a moment of heightened anticipation leading up to the Federal Open Market Committee’s (FOMC) impending rate decision. Renowned fixed-income strategist Cooper Howard of Charles Schwab has
Bonds
The municipal bond market recently exhibited a mixed yet generally positive trend, signifying continuing interest from investors. This article analyzes the latest developments, insights, and future projections in the context of the municipal bond space, contrasting it with movements in U.S. Treasuries and equities. As we moved towards the end of the recent trading session,
The municipal bond market has showcased a complex interplay of factors in recent weeks as capital flows and yields continue to evolve, reflecting both investor sentiment and macroeconomic trends. This article delves into critical developments within the municipal bond space, exploring inflow trends, market performances, and outlooks that could shape future investment strategies. The municipal
The municipal bond market has been experiencing a surge in issuance over the past few months, driven by various factors such as pent-up capital needs, dwindling federal aid, and front-loaded issuance strategies. This trend shows no signs of slowing down, with some strategists revising their volume forecasts higher for 2024. For instance, HilltopSecurities recently adjusted
Recently, California announced its plan to sell $2.5 billion of tax-exempt general obligation bonds, marking the state’s second largest offering this year. The purpose of this sale is to finance voter-approved projects, pay down outstanding commercial paper, and refund outstanding general obligation bonds. This move has garnered attention from various ratings agencies, including Fitch Ratings,
The North Texas Tollway Authority (NTTA) has recently announced a $1.126 billion deal aimed at achieving savings through bond refundings and tenders. This strategic financial move is set to have a significant impact on the organization’s revenue and debt structure. Horatio Porter, NTTA’s chief financial officer, highlighted the importance of these initiatives and emphasized the
The municipal bond market remained relatively stable despite the rise in U.S. Treasury yields and mixed equities performance. According to LSEG Lipper, municipal bond mutual funds experienced inflows for the ninth consecutive week, with investors adding $1.047 billion, following the previous week’s $512.9 million of inflows. High-yield municipal bonds continued to show strength, with inflows
The municipal bond market remained relatively steady on Wednesday as some of the week’s largest deals were priced. The Investment Company Institute also reported over $1 billion in inflows into municipal bond mutual funds. This stability was reflected in U.S. Treasuries, which saw minimal changes across the yield curve. Additionally, equities closed down slightly at
Tower Health, a nonprofit regional healthcare system based in Pennsylvania, is facing major financial challenges that have prompted the organization to consider a significant debt restructuring plan. The system, which includes several hospitals and healthcare facilities, has been grappling with a range of issues, including declining liquidity, upcoming mandatory tenders, and a history of financial
The municipal bond market has seen little change on Thursday, with U.S. Treasury yields increasing and equities closing lower. According to AllianceBernstein strategists, the technical picture this summer has been stronger in 2024 compared to the situation in 2023. Last year, the total returns for June through August were negative, with August wiping out the