Page 2 - Anderss Persson News Today

Volume rebounds eightfold this week with a new-issue calendar of $8.5 billion, including several billion-dollar deals.

Munis are in the black so far in October and some participants see signs of continued improvement.

Triple-A yields fell four to 10 basis points across the curve amid robust secondary trading with high-grade names showing clear moves to lower yields.

Bids wanteds have been elevated, municipal bond mutual fund outflows large and consistent and the short end of the U.S. Treasury curve continues its march upward, moves that muni investors cannot ignore.

Short triple-A yields have risen more than 30 basis points over the past eight sessions while the long bond has risen 19, per Refinitiv MMD data.

Muni and UST yields surged Tuesday on expectations the Fed will have to aggressively raise interest rates to bring down inflation.

Fed Chair Jerome Powell's message on rates last week combined with seasonal factors to give the market a "weird" vibe this week, one trader said.

Positive momentum and supply scarcity are themes for the near future, which should bode well for the market.