The secondary muni market was dislocated Friday with high-grade block trading showing swings in yields and rate volatility and price discovery remain problematic for investors and issuers alike. After a week of large issuers bringing sizable deals, Friday did not fully commit to a more stabilized muni market.
The news out of Washington did not help as headline risk clearly had participants questioning direction from D.C. on policies affecting the municipal market.
Triple-A benchmark yields rose by about five basis points across the curve.
The news out of Washington did not help as headline risk clearly had participants questioning direction from D.C. on policies affecting the municipal market.
Triple-A benchmark yields rose by about five basis points across the curve.
Source: The Bond BuyerRead the full story ↗
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