Municipals had a rough week to start but ended on a more positive tone, following Treasuries to lower yields as the tax reform debate moves along. Although issuance could be as much as $50 billion for December, real money accounts (especially funds) appear to have been well positioned coming into this heavy period, and there is also going to be an especially heavy bond call/maturity period from December 1 through February 1 with proceeds that need to be reinvested somewhere.
by George Friedlander
Posted 12/01/2017
Neighborly Insights
This post is adapted from the Court Street Group Weekly Perspective. Download the full report.