Bonds

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Municipals ended the week steady in quiet trading ahead of the Presidents Day weekend, even as U.S. 30-year Treasuries broke past 2.00%. Investors will see a light $5.67 billion of new issues next week, led by the Regional Transportation District of Colorado’s tax-exempt and taxable green bond deal. Rising U.S. Treasuries moved municipal to UST
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The 30-year U.S. Treasury hit 2% overnight but settled at 1.97% near the close while equities rose for the sixth day on stimulus and vaccination hopes. Municipals did more of the same — Triple-A benchmarks all reported no changes from Friday’s levels with no concessions in light secondary trading with an eye on the week’s
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Investors looking for yield pounced on Detroit’s speculative grade paper Thursday, sending the city’s yield penalties to the lowest levels since it imposed losses on bondholders in Chapter 9 bankruptcy. The junk-rated city’s $135 million stand-alone, tax-exempt general obligation tranche landed at yields of 1.91% to 2.51% and spreads of 100 bps to 128 bps
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Municipal yield curves held steady Thursday as municipal bond mutual funds saw another week of inflows, ratios fell to record lows in 10-years and spread compression continues, leaving investors to search for any incremental yield in a supply-starved market. Municipal to U.S. Treasury ratios dropped to record lows Thursday with ratios at 63% in 10
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All eyes were on the primary Wednesday as several large New York negotiated deals and competitive sales came to market with demand there keeping secondary traders on the sidelines. U.S. Treasuries lost ground and equities gained on better private-sector payrolls numbers and Democrats giving a nod toward moving on stimulus with or without Republican sign-on.
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Munis were little changed as a massive snowstorm pummeled the Northeast triggering states of emergency and vaccine cancelations. Trading was quiet and triple-A benchmarks were unmoved even as U.S. Treasuries faded and equities rebounded from losses and volatility last week. In the primary, a lone competitive deal of size got done as Worcester, Massachusetts, (Aa3/AA-//)
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After reporting a surplus of $3.3 million dollars at the end of fiscal year 2020, the Municipal Securities Rulemaking Board has decided to temporarily reduce certain market-based fees by 40% for a year and a half. The MSRB announced that decision Jan. 29 after its quarterly board meeting earlier in the week. The move will
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Investors on the hunt for yield with few pickings scooped up Chicago Public Schools’ junk paper Wednesday driving down the district’s yield penalties paid in the primary market to their lowest in years. The 10-year in the $560 million sale that marked the Chicago Board of Education’s first COVID-19 era sale settled at a yield