Page 9 - Ramirez Co News Today

Cook County projects a surplus this year and a $18.2 million gap for fiscal 2023 while it readies two bond sales.

The airport benefits from growing population “that skew[s] young and wealthy,” the rating agency said.

The 25-basis-point move to higher yields is the largest one-day change in triple-As since March 2020 when COVID began roiling markets. Munis could not ignore a continued selloff in UST led by inflation and recession concerns.

Hardy Manges brings three decades of experience in municipal trading to the national, full-service investment bank, brokerage and advisory firm.

Municipals improved for the fifth session in a row with 10- and 30-year triple-A yields falling 30 basis points since Thursday. Connecticut priced $1 billion-plus of GOs and saw yields lowered in a repricing.

Several major technicals are beginning to improve in the muni market, said Burt Mulford, portfolio co-manager of fixed and strategic income at Eagle Asset Management.

Fixed-income markets have had a tough 2022 but municipal bonds have been among the ones that have struggled the most.

Given the volatility of risk assets is likely to remain high, and the focus on the flight to safety increases, all fixed-income assets could benefit as a result, including municipals, Barclays strategists say.

On the buy-side, weakness, outflows, supply issues, and poor liquidity are making life challenging for municipal bond investors. The same could be said for issuers.

Last year the university's investment portfolio grew by 47%, a factor contributing to the university's triple-A ratings.