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Muni market faces pressure from fragile cease‑fire and $13.5B new‑issue slate
A tentative cease‑fire in the Middle East and a $13.5 billion new‑issue calendar are set to pressure the municipal bond market next week. The issuance slate is led by $2.3 billion of taxable general‑obligation bonds from New York City and $1.5 billion from other issuers, with analysts warning that any renewal of conflict could quickly reverse any short‑term comfort.
Oracle announced a reduction of 30,000 jobs while its credit default swap spread hit a record 198 basis points, reflecting investor alarm over $124.7 B of non‑current debt tied to aggressive AI spending. The company must convert a $553 B backlog into cash flow to justify the strategy.
Moody's Investors Service maintained Ghana's sovereign rating at Caa1 while revising the outlook from stable to positive. The agency highlighted lower domestic financing costs but warned that exchange‑rate swings and commodity‑price volatility remain key risks for the cedi and debt...
Bill Ackman is negotiating to create a new Pershing Square vehicle that will keep most assets in short‑term US government debt and make asymmetric bets against market complacency. The fund could raise $5‑10 bn and dovetails with his plan to take...
U.S. Treasury yields slipped on Friday as diplomatic overtures between the United States and Iran eased investor anxiety. The 10‑year Treasury yield hovered around 4.30%, reflecting a modest reprieve in the sovereign bond market amid hopes for a cease‑fire.
JUST IN: Traders are sticking with their wagers that the Fed will hold rates steady through all of 2026.
Markets are going to be funky. SoH closure into an oil price spike and physical shortage. COVID showed us anything is on the table and that governments never let a good crisis go to waste. With sovereign bond yields about...
Sean Dranfield, CEO of PT Asset Management, explained why today’s bond market presents a rare opportunity for investors. He highlighted that despite geopolitical tension from the Iran conflict, both interest rates and credit spreads have moved only modestly, leaving the...
S&P Global Ratings downgraded the Philippines sovereign outlook to "stable," echoing concerns over twin budget and current‑account deficits. Nomura analysts said the move was anticipated after the flood‑control corruption scandal and an energy shock from the Middle East war heightened...
The U.S. Labor Department reported 178,000 jobs added in March 2026, far exceeding the 59,000 forecast and leaving the unemployment rate unchanged at 4.3%. The surprise gain has pushed market expectations to a 99.5% chance that the Federal Reserve will...
A coalition of market strategists says the Federal Reserve is now more likely to hike rates in 2026 than to cut them, after minutes revealed heightened inflation worries. The shift pushes 10‑year Treasury yields toward the 4.5% range and forces...
Municipal bond prices held steady on Friday as U.S. Treasury yields slipped back into the 4.20‑4.30% range, a level BofA strategists deem neutral for muni performance. The softer‑than‑expected March CPI added modest support to equities, while the fragile U.S.–Iran cease‑fire...
S&P Global Ratings downgraded New Orleans’ credit rating by one notch, citing deep structural and operational imbalances and dwindling reserves. The city is leaning on short‑term fixes such as a $125 million payroll loan, employee furloughs and a hiring freeze to...
Sallie Mae Bank is issuing $2.3 billion of asset‑backed securities backed by its Smart Option student‑loan pool. The ABS will be sold in five tranches, with the A‑1B tranche floating at rates tied to the 30‑day average SOFR and repayments starting...
A fragile cease‑fire in the Middle East and a hefty $13.5 billion new‑issue calendar are set to pressure the municipal bond market next week. Analysts note that while the cease‑fire could provide short‑term comfort, the risk of renewed conflict remains high....
Los Angeles County Metropolitan Transportation Authority (LA Metro) sold approximately $900 million of senior‑lien Measure R bonds, rated AAA by S&P and Aa1 by Moody’s, to refinance older debt and fund capital projects. The bonds carry a 5% coupon and were priced...
Inspirion Wealth Advisors increased its holding in BlackRock's iShares AAA CLO Active ETF by 63,417 shares, an estimated $3.3 million purchase. The addition lifts the fund to 3.64% of Inspirion's reportable assets, underscoring a broader shift toward high‑quality, floating‑rate structured credit.
