Munis underperform UST rally
ICI reported the lowest inflows since outflows in March, while exchanged-traded funds saw an uptick.
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ICI reported the lowest inflows since outflows in March, while exchanged-traded funds saw an uptick.
As of now, returns for the month will very likely end in the red. The Bloomberg U.S. Municipal Index is at -0.40% for the month and +0.39% for the year.
Despite a short-end U.S. Treasury rally, municipals face pressure on the one- and two-year as participants look to month-end positioning.
Volume falls slightly in the week of October 25 with total potential volume estimated at $7.408 billion: $6.036 billion of negotiated deals and $1.372 billion in the competitive market.
Initially delayed due to the bond market crisis as the pandemic took root a year ago, financing for the Air Force Academy Visitor Center project is now queuing up. Blue & Silver Development Partners is likely to win approval from City Council in February to increase the amount to be issued by the projectâs Business Improvement District by $10 million â to $90 million. That money will fund infrastructure for the Visitor Center, such as drainage, utilities installation, landscaping and architecture and engineering for the 57-acre site. The increase stems largely from escalating costs ...