Bonds

0 Comments
Municipal bonds were little changed Monday in steady trading as investors await a larger-than-usual new-issue calendar. Munis largely ignored the moves in U.S. Treasuries as the 10-year settled in at 1.59% and equities were mixed. Despite the recent outflows and volatility of the Treasury market, municipal bonds have and should continue to outperform, sources said.
0 Comments
The Municipal Securities Rulemaking Board’s proposal to expand Regulation Best Interest to cover bank dealers would affect just a handful of dealers in an effort to reach regulatory parity. In a notice filed Thursday afternoon, the MSRB asked for comment on proposed changes to its Rule G-19 on suitability, to extend the requirements of the
0 Comments
The Puerto Rico Oversight Board’s proposed central government debt adjustment faces several obstacles, most prominently bond insurers’ possible withdrawal of support and local government opposition. Puerto Rico bankruptcy Judge Laura Taylor Swain gave the board until the end of Monday to submit a plan of adjustment for bonds, pensions, and unsecured debts. The board reached
0 Comments
It was a quiet and uneventful Friday as the municipal market viewed the higher-than-expected growth in the jobs report as an indicator of economic recovery ahead and it prepared for the coming of more than $9 billion of tax-exempt and taxable supply combined next week. California will dominate the primary market with its $1.8 billion
0 Comments
New issues repriced to lower yields Wednesday while secondary trading showed firmer trades leading triple-A benchmarks to strengthen on the short end even as U.S. Treasuries saw more losses and equities improved. Primary pricings showed investors comfortable moving in at higher yields with competitive deals from gilt-edged Baltimore County, Maryland, at or through triple-A benchmarks.
0 Comments
Puerto Rico’s leader of its debt oversight agency on Monday told high-yield investors that Puerto Rico’s central government was on the way to be able to sell new bonds. Puerto Rico Fiscal Agency and Financial Advisory Authority Executive Director Omar Marrero made his pitch to participants at the JPMorgan 2021 Global High Yield and Leveraged
0 Comments
Northeast municipal issuers sold $129.99 billion of debt last year, a 14.7% increase from 2019 as states, cities and agencies scrambled amid the COVID-19 disruption. Taxable deals and refinancings helped fuel the spike. Nationally, par amount totaled $483.6 billion, up 13.4% from the previous year, according to data from Refinitiv. “Issuance was really driven by
0 Comments
Municipal new issue volume in February fell year-over-year as tax-exempts led the way down and refunding volume sank amid more new-money issuance. While issuance fell significantly from 2020, it was higher than January’s and only the fifth time in 35 years that volume exceeded $30 billion in February. Total volume fell 27.5% to $30.608 billion
0 Comments
The Puerto Rico Oversight Board took steps to advance the territory’s overdue audited financial statements Friday. Board members have said current comprehensive annual financial reports are aimportant for Puerto Rico to ultimately sell bonds again. The Puerto Rico Oversight, Management, and Economic Stability Act indicates that Puerto Rico should have current financial information. Puerto Rico
0 Comments
In a wide-ranging conversation, Manulife Investment Management Global Chief Economist & Global Head of Macroeconomic Strategy Frances Donald discusses the COVID pandemic, inflation, how the markets may be misreading the Fed, why economic indicators may not be telling economists what they need to know, ESG and green spending, and the economy. Gary Siegel hosts. (35