Municipal Market Updates
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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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7th July 2025
Municipal market update
Following several weeks of negotiation, Congress passed, and the President signed the “One Big Beautiful Bill” (“BBB”), preserving municipal tax exemption and enacting several changes relevant to the public finance sector.
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23rd June 2025
Municipal market update
The U.S. entry into the Israel/Iran conflict in the middle east over the weekend is initially having little impact on bond and equity markets.
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10th June 2025
Municipal market update
The record weekly municipal volume priced last week continues into this week, as market participants look to price issues in front of the release of CPI and PPI data for May (June 11 and 12).
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