Market Close: Munis End Flat, Firmer Tone, Ahead of Holiday Weekend

NEW YORK – The municipal market was unchanged with a firmer tone today, in quiet trading, as participants were largely on the sidelines ahead of the holiday weekend in observance of Independence Day.

To read the column in its entirety, go to The Bond Buyer web site.
Michael.Scarchilli-AT-sourcemedia-DOT-com

Calif. Market Close: Tax-Exempts Finish Flat

NEW YORK – The California municipal market was unchanged with a firmer tone today, in quiet trading, as participants were largely on the sidelines ahead of the holiday weekend in observance of Independence Day.

To read the column in its entirety, go to The Bond Buyer web site.
Michael.Scarchilli-AT-sourcemedia-DOT-com

Market Post: Munis Remain Flat, Firmer Tone, Ahead of Holiday Weekend

NEW YORK – The municipal market was unchanged with a firmer tone today, in quiet trading, as participants were largely on the sidelines ahead of the holiday weekend in observance of Independence Day.

To read the column in its entirety, go to The Bond Buyer web site.
Michael.Scarchilli-AT-sourcemedia-DOT-com

Calif. Market Close: Tax-Exempts Finish Slightly Firmer

NEW YORK – The California municipal market was slightly firmer today, amid light secondary market trading activity.

To read the column in its entirety, go to The Bond Buyer web site.
Michael.Scarchilli-AT-sourcemedia-DOT-com

Market Close: Munis Finish Slightly Firmer

NEW YORK – The municipal market was slightly firmer today, amid light secondary market trading activity.

To read the column in its entirety, go to The Bond Buyer web site.
Michael.Scarchilli-AT-sourcemedia-DOT-com

Market Post: Munis Remain Slightly Firmer in Afternoon Trade

NEW YORK – The municipal market remained slightly firmer this afternoon, amid fairly light secondary market trading activity.

To read the column in its entirety, go to The Bond Buyer web site.
Michael.Scarchilli-AT-sourcemedia-DOT-com

Market Post: Munis Slightly Firmer in Morning Trade

NEW YORK – The municipal market was slightly firmer this morning, in light trading activity. Traders said tax-exempt yields were lower by one or two basis points.

Expanded GFOA Coverage Available at The Bond Buyer

Click here for links to all GFOA Conference coverage from the staff of The Bond Buyer, including updates on the IRS' approach to Build America Bond subscidy payments and GFOA's comments on the adequacy of disclosure by municipal issuers.

None Dare Call It "Upgrade"

The ratings agencies are committing to improved transparency in their ratings and credit evaluations in the wake of the credit markets' meltdowns, but in today's information- and opinion-saturated world, there does come a point where they lose control of how their ratings are used and interpreted.  Moody's Investors Service Managing Director Gail Sussman confronted this issue head-on at the GFOA Conference late Monday with a plea to issuers not to misinterpret any ratings changes that might stem from the agency's "recalibration" to a single, global ratings scale for municipal and other credits.

"These are not upgrades.  We're changing from Fahrenheit to Celsius,"  she said, adding that the agency's desire to make sure the market fully understands its new ratings scales is a key reason why it has "paused" in its migration to the global scale, which was originally expected to begin last fall -- shortly after the collapse of Lehman Brothers sparked a global credit freeze.

Despite the explanation, issuers were impatient.   Click here for the full story from Andrew Ackerman.

-- Mike Stanton, Publisher

Market Close: Munis Slightly Firmer at Close

NEW YORK – The municipal market finished slightly firmer today, in light to moderate trading activity. Traders said tax-exempt yields were lower by one or two basis points.

To read the column in its entirety, go to The Bond Buyer web site.
Michael.Scarchilli-AT-sourcemedia-DOT-com

Calif. Market Close: Tax-Exempts Finish Slightly Firmer

NEW YORK – The California municipal market finished slightly firmer today, in light to moderate trading activity. Traders said tax-exempt yields were lower by one or two basis points.

To read the column in its entirety, go to The Bond Buyer web site.
Michael.Scarchilli-AT-sourcemedia-DOT-com

Market Post: Munis Slightly Firmer in Afternoon Trade

NEW YORK – The municipal market remained slightly firmer this afternoon, in light to moderate trading activity. Traders said tax-exempt yields were lower by one or two basis points.

Market Post: Munis Slightly Firmer in Morning Trade

NEW YORK – The municipal market was slightly firmer this morning. Traders said tax-exempt yields were lower by one or two basis points.

GFOA Video Blog: Christopher Mier on Credit Enhancement

Loop Capital Managing Director Christopher Mier, one of the municipal market's most respected analysts, will be participating tomorrow in a panel on the Future of Credit Enhancement.  He took a few moments in the exhibit hall to preview the session, in an interview with The Bond Buyer's Publisher, Michael Stanton.

Calif. Market Close: Tax-Exempts Finish Flat to Firmer

NEW YORK – The California municipal market opened this holiday-shortened week unchanged to slightly firmer today, in light trading activity.