Most municipal benchmark yields were steady Monday, while ICE’s muni curve saw short-end yields decline by 20 to 25 basis points following the Fed’s move to add variable rate demand notes to its list of assets it would purchase.
…“The muni market starts the week stronger, with most of the strength evident from 10 years and in,” ICE said in a market statement. …
“An hour-to-hour theme prevailed for several days, but Friday’s session found some balance following the Fed’s announcement to buy munis out to one-year maturities,” said Kim Olsan, senior vice president at FHN Financial in a market comment.
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