CreditSights had put a “market outperform” label on the deal. “We find the current levels for Illinois attractive, especially when compared to other states and even local bonds,” read a report…
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“Princeton is not alone in having tapped the corporate market,” Patrick Luby, senior municipal strategist at CreditSights, said. “M.I.T., Harvard, Northwestern, Stanford, Duke, and Yale all have at least $1 billion of corporate-CUSIP debt outstanding….
“The constant barrage of bids-wanteds is a new source of supply into the market, competing with the new-issue calendar for investors’ attention and dealers’ capital,” according to CreditSights‘ weekly report.
Exchange-traded funds saw another round of inflows at $1.002 billion versus $1.068 billion of inflows the week prior. Exchange-traded funds have seen $1 billion-plus inflows three times so far this year,…
Exchange-traded funds saw massive inflows at $1.068 billion — the largest figure since at least 2013, according to Pat Luby, a municipal strategist at CreditSights — versus $43 million of inflows the week…
CreditSights Senior Municipals Analyst John Ceffalio said he generally agreed with the Moody’s piece. But he added, “The bankruptcy and PROMESA are reminders that Congress can preempt territorial laws and…
CreditSights Senior Municipals Analyst John Ceffalio said he generally agreed with the Moody’s piece. But he added, “The bankruptcy and PROMESA are reminders that Congress can preempt territorial laws and change…
Last week’s primary market volume was the heaviest year-to-date, but this week’s expected total of less than $7 billion would be 25% lower than the one-year weekly average, noted CreditSights strategists Pat Luby…
CreditSights strategists Pat Luby and John Ceffalio noted that municipal yields have been swinging between attractive and overly rich since March, which is leading to opportunities for crossover and taxable buyers.
However, the underperformance of municipals relative to taxables is drawing interest from investment grade credit investors seeing the opportunity to add tax-exempt municipal credit to their portfolios without having to…