Munis improve ahead of holiday; issuance grows to $7B

“The market has had a solid tone to it recently even with the strong rally seen this month,” Roberto Roffo, managing director and portfolio manager at SWBC Investment Management, said of the Nov. 10 rally where municipal yields in 10 years fell by as much as 40 basis points.

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Another strong session for munis; FOMC minutes signal caution

The large drop in yields since the end of October can be reflected in sentiment that investors expect a potentially dovish Fed next year, and that a soft landing narrative gives them “permission to finally purchase the bonds they’ve been admiring,” said MMA’s Matt Fabian.

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