Market Post: Munis Slightly Weaker in Afternoon Trade

The municipal market was weaker today, following Treasuries. Traders said tax-exempt yields were lower by about three basis points.
“The market is still struggling with the FSA/Assured issue,” a trader in Chicago said. “Like a sports figure or politician, it’s now ‘guilty until proven innocent’ instead of ‘innocent until proven guilty.’ ”
To read the column in its entirety, go to The Bond Buyer web site.
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Jack.Herman-AT-sourcemedia-DOT-com

Market Post: Munis Slightly Weaker in Morning Trade

The municipal market was slightly weaker this morning, following Treasuries.
“It feels better than it did yesterday,” a trader in New York said. “It looked like the end of the world yesterday, but there’s actually business going on today. There was business going on yesterday, but it was at a very distressed level. We might be off a little bit because Treasuries are off a little bit, but I don’t think we’re underperforming Treasuries today.”
To read the column in its entirety, go to The Bond Buyer web site.
Michael.Scarchilli-AT-sourcemedia-DOT-com
Jack.Herman-AT-sourcemedia-DOT-com

Calif. Market Close: Tax-Exempts Finish Weaker

The California municipal market was weaker by about four basis points today, as participants digest news that Moody’s Investors Service late yesterday put the ratings of triple-A bond insurers Financial Security Assurance Inc. and Assured Guaranty Corp. on review for possible downgrade.
“Treasuries are obviously moving, and that’s a main factor in the weakness today,” a trader in Los Angeles said. “It’s also more of a seller’s market out there, not too many buyers. But a lot of people are paying attention to the FSA and Assured news.”
To read the column in its entirety, go to The Bond Buyer web site.
Michael.Scarchilli-AT-sourcemedia-DOT-com
Jack.Herman-AT-sourcemedia-DOT-com

Market Close: Munis End Weaker

The municipal market was weaker by about four basis points today, as participants digested news that Moody’s Investors Service late yesterday put the ratings of triple-A bond insurers Financial Security Assurance Inc. and Assured Guaranty Corp. on review for possible downgrade.
“It’s just trying to sort out the FSA, Assured thing, and that’s adding to a tough environment as it is,” a trader in New Jersey said. “An environment of little liquidity, little interest, and this doesn’t help. It’s a little bit early, but the news about the insurers is still being digested. At first blush, it looks like the rating agencies are being a little more proactive than they’ve been over the past few years. I don’t want to say it’s overreaction, but they’re maybe just being a little more aggressive.”
To read the column in its entirety, go to The Bond Buyer web site.
Michael.Scarchilli-AT-sourcemedia-DOT-com
Jack.Herman-AT-sourcemedia-DOT-com

Market Post: Munis Slightly Weaker in Morning Trade

The municipal market was slightly weaker this morning, as participants digest news that Moody’s Investors Service late Monday put the ratings of triple-A bond insurers Financial Security Assurance Inc. and Assured Guaranty Corp. on review for possible downgrade.
“It’s just trying to sort out the FSA, Assured thing, and that’s adding to a tough environment as it is,” a trader in New Jersey said. “An environment of little liquidity, little interest, and this doesn’t help. It’s a little bit early, but the news about the insurers is still being digested. At first blush, it looks like the rating agencies are being a little more proactive than they’ve been over the past few years. I don’t want to say it’s overreaction, but they’re maybe just being a little more aggressive.”
To read the column in its entirety, go to The Bond Buyer web site.
Michael.Scarchilli-AT-sourcemedia-DOT-com
Jack.Herman-AT-sourcemedia-DOT-com

Calif. Market Close: Tax-Exempts Finish Flat

The California municipal market was largely unchanged today.
“It’s quiet, but there’s some retail business getting done,” a trader in San Francisco said. “But it’s pretty much flat on the day. Just hanging in there.”
To read the column in its entirety, go to The Bond Buyer web site.
Michael.Scarchilli-AT-sourcemedia-DOT-com
|Jack.Herman-AT-sourcemedia-DOT-com

Market Close: Munis End Largely Unch

The municipal market was largely unchanged today.
“It’s very, very quiet, you have a pretty decent calendar, so everyone’s just waiting to see how that’s moving through the system and will get priced,” a trader in Chicago said. “It was a little weaker this morning, but now it just seems like everybody is waiting.”
To read the column in its entirety, go to The Bond Buyer web site.
Michael.Scarchilli-AT-sourcemedia-DOT-com
Jack.Herman-AT-sourcemedia-DOT-com

Market Post: Munis Largely Unch in Afternoon Trade

The municipal market was largely unchanged today.
“It’s very, very quiet, you have a pretty decent calendar, so everyone’s just waiting to see how that’s moving through the system and will get priced,” a trader in Chicago said. “It was a little weaker this morning, but now it just seems like everybody is waiting.”
To read the column in its entirety, go to The Bond Buyer web site.
Michael.Scarchilli-AT-sourcemedia-DOT-com
Jack.Herman-AT-sourcemedia-DOT-com

Market Post: Munis Slightly Weaker in Morning Trade

The municipal market was slightly weaker this morning.
“It’s really, really slow, very few bid-sides,” a trader in New Jersey said. “Probably off three or four in some spots, there is really just no bid-side at all.”
To read the column in its entirety, go to The Bond Buyer web site.
Michael.Scarchilli-AT-sourcemedia-DOT-com
Jack.Herman-AT-sourcemedia-DOT-com

Market Close: Munis Weaker at Close

NEW YORK – The municipal market was weaker today, following Treasuries.

Calif. Market Close: Tax-Exempts Finish Weaker

NEW YORK – The California municipal market was weaker today, following Treasuries.

Market Post: Munis Weaker in Morning Trade

The municipal market was weaker this morning, following Treasuries.
Trades said tax-exempt yields were higher by three or four basis points.
To read the column in its entirety, go to The Bond Buyer web site.
Michael.Scarchilli-AT-sourcemedia-DOT-com
Jack.Herman-AT-sourcemedia-DOT-com

Market Close: Munis Slightly Weaker at Close

NEW YORK – The municipal market was slightly weaker today, following Treasuries.

Calif. Market Close: Tax-Exempts Finish Slightly Weaker

NEW YORK – The California municipal market was slightly weaker today, following Treasuries.

Market Post: Munis Unch, Weaker Tone in Morning Trade

The municipal market was unchanged with a slightly weaker tone this morning.
Trades reported to the Municipal Securities Rulemaking Board were mixed. Bonds from an interdealer trade of Kansas City, Mo., 5s of 2027 yielded 4.48%, down two basis points from yesterday. Bonds from an interdealer trade of insured Cypress-Fairbanks Independent School, Texas, 5s of 2035, yielded 4.80%, up four basis points from yesterday. Bonds from an interdealer trade of Charlotte-Mecklenburg Hospital Authority 5s of 2047 yielded 5.15%, unchanged from yesterday.
To read the column in its entirety, go to  The Bond Buyer web site.
Michael.Scarchilli-AT-sourcemedia-DOT-com
Jack.Herman-AT-sourcemedia-DOT-com