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The municipal bond market saw interest rates back up very slightly in sympathy with the Treasury market during the fourth quarter of 2019. Ten- and thirty-year AAA tax-free yields started the quarter at 1.42% and 2.01% respectively. As the curtain dropped on 2019 they closed at 1.44% and 2.09%. However the ratio to Treasury yields […]
In the past few weeks Senator Elizabeth Warren has risen to be neck and neck with Joe Biden in most of the national polls for the Democratic nomination. In some of the electronic betting polls, though, Warren is ahead of Biden by 5–6 points, depending on the day. Warren has promised higher taxes, which would […]
The dramatic drop in Treasury yields at the beginning of August caused the muni market to take a pause in its great relative performance earlier in the year. The 10-year Treasury bond moved 52 basis points lower, going from 2.005% at the end of the second quarter to 1.48% at the end of August; and […]
The first quarter of 2019 was a good one for the tax-free bond market, with yields falling during the quarter. There are two main reasons that munis have had a good run so far this year. Muni supply is down. The drop last year has carried over to this year. Remember, 2018 supply was down […]
