Amid a flattening municipal yield curve and inversion of the Treasury market, new issues fared better than the secondary on Thursday as participants prepared for month end.
Municipals outperformed the move in taxables Friday but weakness hangs over the market as fund flows lessen and supply increases. Taxable munis may be keeping exempt rates from moving higher.
The firm’s distribution capabilities across major and mid-size institutional accounts, professionally managed retail accounts, and high net worth individual accounts is a throwback to founder Archibald Bullock Roosevelt’s vision.
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