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
26th January 2026
Municipal market update
While the FOMC will meet this week, the market implied probability of any interest rate cut is negligible, however supply is subdued with a negotiated calendar of less than $4 billion.
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20th January 2026
Municipal market update
The World Economic Forum’s 2026 annual meeting in Davos began yesterday. This year’s proceedings are expected to draw heightened scrutiny from global markets, as the conference assumes an especially prominent role and the administration prepares to engage with European partners on the future of Greenland.
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12th January 2026
Municipal market update
Over the weekend, news was released that the Department of Justice served the Federal Reserve with grand jury subpoenas threatening criminal indictment.
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5th January 2026
Municipal market update
The municipal and broader financial markets are entering the first full week of 2026 under a cloud of significant uncertainty following the U.S. military intervention in Venezuela over the weekend.
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17th November 2025
Municipal market update
The municipal market held steady last week with MMD unchanged despite a light new issue calendar last week met with uneven demand. Lipper reported steady fund inflows at $405 million with a slowing primary calendar and upcoming November and December redemption flows, providing a favorable backdrop.
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10th November 2025
Municipal market update
So far in 2025, US states and local governments have borrowed over $500 billion in the municipal market, a record amount. Visible supply begins the week at $8.9 billion, well below the year’s average of $14.6 billion.
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3rd November 2025
Municipal market update
This week marks the beginning of the second month in which the government has been shut down. With the quantitative data on pause, all eyes are on Fed speaker commentary to address the current and future stages of monetary policy.
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27th October 2025
Municipal market update
Last week, municipal bond market performance was mixed with the belly and long end of the curve seeing robust demand amid a heavier issuance calendar (+$15 billion), while the front end remained under pressure.
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28th July 2025
Municipal market update
Yields eased last week as the market awaits the FOMC meeting on Wednesday. Medium to long-term Treasury yields declined, with long maturities leading the reversal.
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21st July 2025
Municipal market update
Reversing last week’s trend, MMD saw a significant increase in yields, especially on the long-end, while treasury yields were mixed week-over-week.
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