Damage done to munis despite 90-day tariff delay

The municipal market selloff intensified Wednesday amid the shifting implementation of President Donald Trump’s sweeping tariffs on imported goods from around the globe. Following Trump’s announcement that the largest tariffs against most countries had been delayed for 90 days, the muni market had a subdued reaction as the damage done earlier in the session held. U.S. Treasuries whipsawed and ended mixed while stocks rallied on the news. Very few deals priced in the primary as most issuers and deal teams pulled the transactions amid the volatility. Munis saw large losses for the day, with some scales paring back losses.
Source: The Latest