Bond deal help get southern California electric utilities off coal
The Southern California Public Power Authority plans to price $700 million in revenue bonds for improvements to a 488-mile power transmission system.
Stay updated with breaking news from Ramirez Co. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
The Southern California Public Power Authority plans to price $700 million in revenue bonds for improvements to a 488-mile power transmission system.
Outflows continued with the Investment Company Institute reporting investors pulled $128 million from mutual funds in the week ending March 29, after $693 million of outflows the previous week.
Outside of economic data, "a light forward calendar is driving strong demand in the secondary market and with new issues, with some deals being significantly oversubscribed," SWBC's Roberto Roffo said.
Outflows continued as Refinitiv Lipper reported $194.097 million was pulled from municipal bond mutual funds in the week that ended Wednesday after $427.082 million of outflows the week prior.
Munis are directionally trading with USTs but underperforming in days where USTs rally and outperforming in days where USTs sell-off, said Greg Gizzi, head of U.S. fixed income and head of municipal bonds at Macquarie Asset Management.