Bond investors are understandably cautious in response to recent market volatility and ahead of what is expected to be a Fed rate hike Wednesday, participants say.
DASNY leads the calendar with $2.3 billion of exempt personal income tax bonds and $662.32 million of taxables. Potential volume is slated to be $5.11 billion, with $4.392 billion of negotiated deals and $718.1 million of competitive loans.
The Volcker Alliance looks at the state’s outstanding municipal bonds and $83 billion in other obligations and suggests improved transparency and oversight.
Municipal yield curves were little changed for the seventh straight session while Refinitiv Lipper reported the 40th week of inflows into municipal bond mutual funds, with high-yield seeing a large increase week over week.