Municipal Bond News
Market News Commentary - From The Desk of David Loesch 11/05/2020
Submitted by Tax Free Municipal Bonds/Fixed Income Specialists/DRL Group on November 5th, 2020- Citizens in the State of IL rejected raising taxes on the wealthiest residents, striking down a plan for shoring- up the state’s finances. I suspect the rating agencies will view this as a negative and consider a downgrade on the state GO rating. I also expect you will see an increase in volume on this credit for the bid resulting in slightly cheaper values and yield op
Market News Commentary - From The Desk of David Loesch 10.29.2020
Submitted by Tax Free Municipal Bonds/Fixed Income Specialists/DRL Group on October 28th, 2020- From a MUNI perspective and the elections coming up, Biden's tax proposals include capping the value of most deductions at a 28% rate. Any move to limit the tax breaks for MUNI bonds would face resistance from state and local government officials. The exemption boosts demand for bonds in the $3.9T market, lowering the interest that municipalities need to pay for financing
Market News Commentary - From The Desk of David Loesch 10.22.2020
Submitted by Tax Free Municipal Bonds/Fixed Income Specialists/DRL Group on October 22nd, 2020Market News Commentary - From The Desk of David Loesch 10.15.2020
Submitted by Tax Free Municipal Bonds/Fixed Income Specialists/DRL Group on October 15th, 2020- State and local government lobbying groups are pressing Powell and Mnuchin to expand the scope of the Central Banks $500B Muni Credit Line and create a program to purchase bonds in the secondary. If this happens, it will be a significant uplift to our markets, similar to what we saw in the corporate market two months ago. It will be interesting to watch how it develops, big n
Market News Commentary - From The Desk of David Loesch 10.08.2020
Submitted by Tax Free Municipal Bonds/Fixed Income Specialists/DRL Group on October 8th, 2020- Investors added $947MM to MUNI Bond Funds as of Wednesday compared to an outflow last week. Investors view increases in yields as a buying opportunity. I suspect this trend will continue as we move through the month, which will create more buyers in our markets.
- The minutes from the FOMC meeting indicated that Central Bankers wanted to retain some flexibility concer
Market News Commentary - From The Desk of David Loesch 10.01.2020
Submitted by Tax Free Municipal Bonds/Fixed Income Specialists/DRL Group on October 1st, 2020Market News Commentary - From The Desk of David Loesch 09.24.2020
Submitted by Tax Free Municipal Bonds/Fixed Income Specialists/DRL Group on September 24th, 2020Market News Commentary - From The Desk of David Loesch 09.17.2020
Submitted by Tax Free Municipal Bonds/Fixed Income Specialists/DRL Group on September 16th, 2020- The MTA priced their new issue Tuesday night. Due in 2050, with a 4.00% coupon, the deal's final maturity was priced to yield 4.35% or 277 basis points above the benchmark index. The 2043 maturity is a 5% coupon, priced to yield 4.44%. MTA warned that it is focused on survival and will need to cut subway service by 40% unless the federal government provides $1
Market News Commentary - From The Desk of David Loesch 09.03.2020
Submitted by Tax Free Municipal Bonds/Fixed Income Specialists/DRL Group on September 2nd, 2020Market News Commentary - From The Desk of David Loesch 08.27.2020
Submitted by Tax Free Municipal Bonds/Fixed Income Specialists/DRL Group on August 27th, 2020- The FED indicated they would likely keep short-term rates near zero for five years or possibly more after adopting a new strategy for carrying out monetary policy. The new approach is likely to result in policymakers taking a more relaxed view towards inflation. Powell will provide an update on the FED's 1.5-year-old framework of its policies and practices when he speaks