A California waste management agency returns to market
The finance team on the Western Placer Waste Management Authority deal hopes to benefit from an improving market with increased inflows.
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The finance team on the Western Placer Waste Management Authority deal hopes to benefit from an improving market with increased inflows.
"Demand for low-duration tax-exempts has been so strong that short maturity benchmark yields are now lower than the after-tax yields for comparably rated benchmark taxable muni and corporate bonds," said CreditSights strategists Pat Luby and John Ceffalio.
The Northeast's issuers sold $49.69 billion of municipal bonds in the first half of 2022, down more than 18% year-over-year.
The Investment Company Institute reported investors poured in $1.589 billion into muni bond mutual funds in the week ending August 3, the highest level since November.
Primary market takes focus for large revenue deals from the New York State Thruway Authority and the Colorado Health Facilities Authority.