Demand for muni bonds has slowly started make a comeback, with Jason Wong, vice president of municipals at AmeriVet Securities, saying, "this demand is a welcome sign to the tax-exempt sector as rising yields pushed investors to the sidelines."
Inflation remained the Federal Reserve's focus, but panelists were concerned about its intentions being misread, and none expect rate cuts in 2023, according to minutes of the latest Federal Open Market Committee meeting.
"Yield levels are now notably higher throughout many sectors of the yield curve by a number of percentage points," said Morgan Stanley strategists Matthew Gastall and Daryl Helsing.
Views from CreditSights' Patrick Luby, senior municipal strategist, and John Ceffalio, senior research analyst, on everything from mutual fund flows, the evolution of the retail investor, municipal bond volume and important credit implications from transit, higher ed, airports, high-yield and more. Lynne Funk hosts.