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Municipals are sitting out the up-and-downs in equities and UST, with $12 million scheduled for the primary in the final week of 2021. → Read More
Spreads have been widening, but secondary trading was on the light side and triple-A benchmarks were cut by only a basis point in spots even as U.S. Treasury yields once again rose on the 10- and 30-year. → Read More
Municipals have mostly held steady as bid-wanteds have risen, but so have yields and ratios, making for a more satisfactory range for investors getting into the market at these new higher levels. → Read More
The increase in yields and spread widening across municipal sectors has given some pause to high-yield investors after months of stagnation. → Read More
Veneta Dimitrova, senior U.S. economist at Ned Davis Research, says the COVID pandemic showed us the government has more fiscal space than thought. She also discusses inflation, housing, the manufacturing sector, global supply chain challenges and the Fed’s balance sheet. Hosted by Gary Siegel. Taped Feb. 24. (32 minutes) → Read More
It was a quiet and uneventful Friday as the municipal market viewed the higher-than-expected growth in the jobs report as an indicator of economic recovery ahead and it prepared for the coming of more than $9 billion of tax-exempt and taxable supply combined next week. → Read More
The Federal Reserve's Summary of Economic Projections forecasts inflation won't hit its 2% target next year, and others agree. → Read More
The Federal Open Market Committee announcement commits it to buying at least $120 billion of securities a month until “substantial further progress” is made on its dual mandate of stable prices and maximum employment, suggesting it will continue well into 2022. → Read More
The rising number of COVID-19 cases and the restrictions imposed to stop its spread, led to a pullback in consumer spending and has a regional service sector reeling. → Read More
The 245,000 increase in nonfarm payrolls indicated a slowing, and with lockdowns rising, December's numbers could fall again. → Read More
The consumer confidence index suggested expectations have slipped, and the Richmond Fed's services survey also offered a dim view ahead. → Read More
The Federal Reserve’s changed policy framework is “an evolution, not a revolution,” according to Vice Chair Richard Clarida. → Read More
As is usually the case, the largest bond deals appear headed for victory, although this year's tally seems to be slower than normal, given the COVID-19 pandemic. → Read More
Uncertainty has been the code word since March — about the length of the pandemic, about the election, and many other issues. The markets hate uncertainty. → Read More
The economic news Friday was mostly positive, with consumers spending on clothes, cars and eating out, while manufacturing continues to suffer. → Read More
Although short-term volatility is certain, experts consider whether the long-term outlook would change depending on the winners. → Read More
The federal funds rate target should remain at the zero lower bound until inflation reaches 2% and remains headed higher, Federal Reserve Bank of Chicago President Charles Evans said Monday. → Read More
Payrolls were added and the unemployment rate fell, but some observers saw negatives in the September employment report. → Read More
While the Fed has written off negative interest rates as a last resort, without stimulus, consideration may be nearer. → Read More
A “fragile” economy and his expectations for a “more gradual” than forecast recovery mean “fiscal- and monetary-policy stimulus are essential,” Federal Reserve Bank of Boston President Eric Rosengren said Wednesday. → Read More