Primary bond market

Municipal AAA yield curves were cut up to another 42 basis points, depending on the curve, as of noon, pushing yields to multi-year highs and long-end muni to UST ratios above 100%. Muni yields have risen up to nearly 100 basis points in spots since the bond market rout began.

The bank has also hired some analysts to its infrastructure group over the past several weeks as it plans to beef up its muni team.

Municipal bonds have a direct effect on the social and cultural character of cities, metropolitan areas, counties, and states. Munis and the initiatives they support such as public education, housing subsidies, public transit systems, and more, can often be linked to local or regional politics. Join Lynne Funk, Executive Editor at The Bond Buyer and Destin Jenkins, Neubauer Family Assistant Professor of History at the University of Chicago as they explore how municipal bond mismanagement can have contrasting influences on the different ethnic groups in our cities.

The establishment of the Primary Dealer Credit Facility is among a flurry of recent actions by the central bank to limit the economic impact of the coronavirus.

Huntington Bancshares is acquiring Hutchinson Shockey as both look to broaden their public finance reach.