Municipal Bond News

Market News Commentary - From The Desk of David Loesch 02.20.20

Submitted by Tax Free Municipal Bonds/Fixed Income Specialists/DRL Group on February 20th, 2020

With the 10T hovering around the 1.56% range, most accounts and Funds believe that it will continue to move down in yield, as I do as well. With the overall uncertainty of the markets along with the presidential election coming up, I think the bond market will show positive returns through the year at least until October.

Submitted by Tax Free Municipal Bonds/Fixed Income Specialists/DRL Group on February 5th, 2020

CITI lead the street in underwriting paper last month as the value of deals rose 28% versus a year ago. State and local conferments sold 30.7B of bonds in January versus 24.1B a year ago. We have said that the calendar is light in February, and it continues to be; this should continue to push pricing up based on secondary trades.
The most significant sales this week

Submitted by Tax Free Municipal Bonds/Fixed Income Specialists/DRL Group on February 5th, 2020

CITI lead the street in underwriting paper last month as the value of deals rose 28% versus a year ago. State and local conferments sold 30.7B of bonds in January versus 24.1B a year ago. We have said that the calendar is light in February, and it continues to be; this should continue to push pricing up based on secondary trades.
The most significant sales this week

Submitted by Tax Free Municipal Bonds/Fixed Income Specialists/DRL Group on January 30th, 2020

With yields so low, I know it is hard to accept the fact of "Is that actually worth buying?" I hear this from accounts as well, but the alternative is equity or private equity. The markets are overall at a precarious place; many believe that the equity market might tank soon, leaving the bond market the only safe- haven, if this is the case, perhaps rates can move l

Submitted by Tax Free Municipal Bonds/Fixed Income Specialists/DRL Group on January 23rd, 2020

To put it into perspective, the last time MUNI yields were this low was in 1950. The bond buyers 20-year index of GO bonds reset at 2.56% this past week, the lowest since 6/1956. The 20-year bond index Is the oldest gadget of yields in the MUNI market and started by the newspaper in 1917. Many believe that if T bills continue to go lower, the yields on MUNI's long t

Submitted by Tax Free Municipal Bonds/Fixed Income Specialists/DRL Group on January 16th, 2020

Submitted by Tax Free Municipal Bonds/Fixed Income Specialists/DRL Group on January 8th, 2020

Bank of America was the top underwriter of MUNI bonds in 2019 as the value of deals rose 26%. State and local governments sold 406.4B of MUNI’s verses 321B in 2018.

Submitted by Tax Free Municipal Bonds/Fixed Income Specialists/DRL Group on December 31st, 2019

With the Iran issues looming, futures are down slightly and would probably be down more if it were not for the “day.” This is an issue that will cause problems for the markets if it gets out of hand.

Submitted by Tax Free Municipal Bonds/Fixed Income Specialists/DRL Group on December 26th, 2019

The largest state pension plans are reducing their investment portfolios in equities and moving into Fixed Income Securities. With the turmoil surrounding pensions over the past few years, many states are seeking less volatile paper. This interest will be a plus to our markets in 2020.

Submitted by Tax Free Municipal Bonds/Fixed Income Specialists/DRL Group on December 18th, 2019