Market Insights
Cabrera Capital Markets releases market insights on a weekly and quarterly basis to keep you up to date on the latest trends.
Topics
17th August 2026
Municipal market update
Municipals were stable to slightly firmer for the week ending August 14, absorbing $12 billion in supply, against a volatile Treasury backdrop.
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10th August 2026
Municipal market update
Municipal bonds outperformed U.S. Treasuries this week, with the AAA MMD scale bumped in all five sessions.
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3rd August 2026
Municipal market update
Municipal bonds outperformed U.S. Treasuries this week, with yields relatively unchanged even as Treasuries sold off across the intermediate and long end of the curve.
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27th July 2026
Municipal market update
Munis underperformed Treasuries this week, with the MMD curve weakening 16–22 basis points as the market corrected following a period of very rich ratios, while Treasury yields also backed up by approximately 10–15 basis points across the curve.
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20th July 2026
Municipal market update
MMD underperformed USTs this week, with muni yields rising 6–12 bps across the curve while Treasury yields were flat to 5 bps lower.
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13th July 2026
Municipal market update
MMD and USTs both sold off this week, but MMD held up better. Muni yields rose 2–7 bps versus UST yields up 6–10 bps on the 5- and 30-year, reflecting the strong technical backdrop from reinvestment demand and moderate supply.
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6th July 2026
Municipal market update
Municipal bonds outperformed last week despite the volatility in the Treasury market following the June employment report, which showed the unemployment rate declining to 4.2% and reinforced uncertainty around the Fed's policy path.
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29th June 2026
Municipal market update
Municipal bonds underperformed last week, which was largely expected given the volatility seen the prior week.
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22nd June 2026
Municipal market update
The municipal market remained firm last week as supply was lighter than usual due to the FOMC meeting and the Juneteenth holiday.
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15th June 2026
Municipal market update
Volatility persisted last week as the market reacted to the release of economic data and continued geopolitical developments. Core CPI came in as expected at 4.20%, while PPI came in lower than expected at 6.40%.
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