Municipal Bond News

• Spreads on MUNI’s continue to tighten, and several articles a day come out about retail and institutional accounts chasing yield in this market.  With yields still low, many investors are turning to the taxable MUNI markets to enhance their return.  The wider spreads have been driven by a surge of taxable debt sales by states and municipalities in the second half of this

• NY State Thruway issued last Friday 3.00% due in 2053; this was the most actively traded bond that day with trades totaling 92.2B.  I would expect that funds are buying this product.
• Trump indicated that he hopes a trade deal will happen before the Asia Pacific Economic Co-op meeting takes place in mid-November.  I think this is an aggressive timeline, and do not expe

• NY State Thruway issued last Friday 3.00% due in 2053; this was the most actively traded bond that day with trades totaling 92.2B.  I would expect that funds are buying this product.
• Trump indicated that he hopes a trade deal will happen before the Asia Pacific Economic Co-op meeting takes place in mid-November.  I think this is an aggressive timeline, and do not expe

• 108 borrowers have run into trouble grave enough where they have skipped debt payments or violated their convents as it pertains to bond contracts.  This kind of trouble is a 30% jump from 2018 and the most since 2015.  It indicates that there are yield chasers out there buying and getting things done in our markets on deals that should not have been issued.  With yields a

• 108 borrowers have run into trouble grave enough where they have skipped debt payments or violated their convents as it pertains to bond contracts.  This kind of trouble is a 30% jump from 2018 and the most since 2015.  It indicates that there are yield chasers out there buying and getting things done in our markets on deals that should not have been issued.  With yields a

• The Chicago Teacher's Union voted to authorize a strike; this moves the nation's 3rd largest school district closer to a work stoppage.  94% or 2500 teachers voted to strike.  
• PR will be emerging from bankruptcy soon; the final restructuring plan has been proposed; I suspect there won't be much pushback.  This exit will help all insurance compan

• Many broker/dealers believe that there will be a recession in 2020, now some have pushed that back to 3^rd Q 2020.  Retail has become conditioned to the news.

• Over the past five years separately managed accounts have gained favor with MUNI investors as compared to a basket of accounts that are managed such as Breckinridge.  Separately managed accounts give the investor the control to seize the moment of buys and sells based on the objective of that specific account compared to the fund itself.  This will continue to grow in popularit

Municipal-Bond Sell-Off Is Blip That Won't Stop Cash Flood

2019-09-16 17:28:41.642 GMT

By Danielle Moran

(Bloomberg) -- The sell-off in municipal bonds is not big