The 2023 "January effect" seems to be "displaying typical behavior given relatively thin issuance this month and demand patterns that have been buoyed by four of six reinvestment needs," said Jeff Lipton, managing director of credit research at Oppenheimer Inc.
For the first time in several weeks, munis last week outperformed "by a wide margin and across the entirety of the yield curve," said Eric Kazatsky, head of municipal strategy at Bloomberg Intelligence.
Originally, PfISD administrators asked the school board to consider closing two to three schools. But on Thursday, Superintendent Douglas Killian suggested closing one to two schools instead.
The PfISD school board is considering closing several elementary schools to save money as the district faces a multimillion-dollar budget deficit. Trustees are expected to make a decision next month.