Page 6 - Ramirez Co News Today

The Investment Company Institute reported $5.128 billion of outflows for the week ending Oct. 5 after $5.374 billion of outflows the previous week.

U.S. Treasuries saw more losses and municipal to UST ratios fell on the day's moves with the long bond valuation below 100%.

The committee aims to craft best practices that would encourage greater use of the "green bond" label.

S&P upgraded the bonds to AA-plus and Fitch revised the outlook on the AA-rated debt to positive from stable.

The taxables are the city's first social bonds, which S&P said are aligned with the International Capital Market Association's Social Bond Principles.

The Investment Company Institute reported $2.034 billion of outflows from muni bond mutual funds in the week ending Sept. 7 compared to $2.594 billion of outflows the previous week.

Even after investors received an infusion of $18 billion of matured and called bond proceeds on Sept. 1, muni prices have continued to weaken, note CreditSights strategists Pat Luby and John Ceffalio.

Monday's opening panel of The Bond Buyer California Public Finance conference in Los Angeles was an insiders' look at muni market challenges and opportunity.

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

The Investment Company Institute reported $2.527 billion of outflows from muni bond mutual funds in the week ending Aug. 31 compared to $765 million of outflows the previous week.