Market Close: Munis Slightly Weaker at Close

NEW YORK – The municipal market was slightly weaker today, while yields in the Treasury market plunged following news that the much-discussed $700 billion government bailout plan was voted down 228 to 205 by the U.S. House of Representatives.

Calif. Market Close: Tax-Exempts Finish Weaker

NEW YORK – The California municipal market was slightly weaker today, while yields in the Treasury market plunged following news that the much-discussed $700 billion government bailout plan was voted down 228 to 205 by the U.S. House of Representatives.

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 Unch in Morning Trade

The municipal market was largely unchanged this morning, despite sizeable Treasury gains following news that Citigroup Inc. will acquire the banking operations of Wachovia Corp., in a transaction facilitated by the Federal Deposit Insurance Corp.
Traders said tax-exempt yields were mostly flat despite this news, as market participants continue to ponder the impact of a potential government bailout plan.
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

NEW YORK – The California municipal market was weaker again today, despite more flight-to-quality gains in Treasuries, ahead of the passing of a government bailout plan that could spur new issues back into the primary market once completed.

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 again today, despite more flight-to-quality gains in Treasuries, ahead of the passing of a government bailout plan that could spur new issues back into the primary market once completed.

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 Weaker in Morning Trade

The municipal market was weaker this morning.
“We’re a little bit weaker right now,” a trader in New York said. “There’s not a lot of liquidity in the market right now, but I’d call this market down three or four basis points at this point.”
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

NEW YORK – The California municipal market was weaker today. Traders said tax-exempt yields were higher by three to five 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 Post: Munis Unch in Morning Trade

The municipal market was mostly unchanged this morning.
“So far we’re probably unchanged or just off a basis point, in very limited trading, but recently it seems like it’s always quiet in the morning, before falling out by lunchtime,” a trader in New Jersey said. “People are just trying to see how things shake out with the buyout plan. People are just being more cautious now. There are bonds on the street, but it seems like every time you buy them, they start trading cheaper. It seems as though people feel like this isn’t the bottom.”
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, despite Treasury gains. Traders said tax-exempt yields were higher by about five basis points.

Calif. Market Close: Tax-Exempts Finish Weaker

Market Post: Munis Weaker in Morning Trade

The municipal market was weaker today, despite Treasury gains. Traders said tax-exempt yields were higher by three or four basis points.
“It’s more of the same,” a trader in New York said. “More sellers than buyers.”
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 today. Traders said tax-exempt yields were up by about four or five basis points overall.
“The market is very sloppy, very sketchy. It continues to be under pressure from at least the threat of deleveraging, thought it seems to have diminished somewhat as the days have gone by,” said Evan Rourke, portfolio manager at MD Sass. “There are some positive headlines now, you’re starting to see some effects of individual investor interest. Obviously munis are attractive on a relative basis, and as that news starts to leak out to the general public, more and more assets start being committed to munis, which is good.”
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 today. Traders said tax-exempt yields were up by about four or five basis points overall.
“The market is very sloppy, very sketchy. It continues to be under pressure from at least the threat of deleveraging, thought it seems to have diminished somewhat as the days have gone by,” said Evan Rourke, portfolio manager at MD Sass. “There are some positive headlines now, you’re starting to see some effects of individual investor interest. Obviously munis are attractive on a relative basis, and as that news starts to leak out to the general public, more and more assets start being committed to munis, which is good.”
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. Traders said tax-exempt yields were up by about two or three basis points.
“It’s just more of the same,” a trader in New Jersey said. “Just trying to sort stuff out and see if you can develop a bid side for anything you own and anything you might be in touch with. And it’s a very difficult market for any new issues.”
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 today, with more losses situated on the long end.
“We weren’t seeing much earlier on, but as the day wore on, more of that weakness came through,” a trader in Los Angeles said. “I’d say we’re down two or three basis points overall, but I’ve seen it as much as five or six basis points weaker on the very long end. It’s just very illiquid still.”
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