Calm after the correction: munis mostly steady to close out rough week
Investors will be greeted Monday with a new-issue calendar estimated at $7.208 billion, led by $1.3 billion of GOs from bellwether Washington.
Source: bondbuyer.com
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Munis hit hard across the curve as primary weighs
Municipal outperformance to UST ended Tuesday as triple-A yields rose 12 to 20 basis points as several new issues began pricing.
Source: bondbuyer.com
ON THE MOVE: BNP Paribas Names José Placido and Jean-Yves Fillion; HSBC Promotes Vis Nayar
The weekly recap of new hires, promotions and job changes in capital markets trading and technology.
Source: tradersmagazine.com
Another weaker session; heavier new-issue calendar to take focus
Muni yields were cut four to eight basis points, depending on the scale, while UST yields rose seven to nine basis points. Muni outperformance and rich ratios continue.
Source: bondbuyer.com
Munis are weaker, new-issue calendar rises to $11.5B
For long-term muni bonds, BofA strategists noted that macro market and supply/demand conditions "are dominating the picture, pushing the high-grade muni market to a relatively rich valuation versus Treasuries."
Source: bondbuyer.com