Decades-high interest rates are poised to revive interest in a little-used corner of the municipal-bond market: variable rate deals.
Investors with $250,000 or more to spend on municipal bonds are increasingly seeking opportunities to pick and choose what goes into their portfolios.
Billionaire investing titans Stanley Druckenmiller and David Tepper loaded up on stocks benefiting from the artificial intelligence boom during the first quarter.
Money managers for the ultra-wealthy are eschewing traditional private equity funds and betting directly on upstart companies.
The number of daily trades surpassed 60,000 on a few days in late April, levels last seen during the 2020 pandemic-induced selloff. In March, that figure averaged around 42,600, according to trade data from the Municipal Securities Rulemaking Board.
Municipal bonds are heading for their worst start to a year on record, and fund managers say nailing the direction of the $4 trillion market from here likely has little to do with the fiscal health of U.S. states and cities.
U.S. cities and states are paying up to get muni deals off the ground as buyers gain more bargaining power -- a marked departure from the anything-goes market for sellers in the easy-money era.
The $4 trillion state and local-debt market just logged its most volatile 10-day period since the early 2020 selloff, according to data compiled by Bloomberg. Benchmark yields rose as much as 11 basis points on Tuesday, driving the market to its worst day of performance since April 2020. AAA yields rose as much as 2 basis points as of 4 p.m. on Wednesday.
The municipal-bond market is ending its worst quarter in about 40 years with a 6.4% loss, a dramatic pullback for an asset class that investors favor for its stability. The loss so far this year is in line with bonds globally as central banks increase interest rates to combat the fastest inflation in decades. The municipal market is still underperforming U.S. Treasuries, heightening investor concern.
It’s been a bleak stretch in the $4 trillion municipal-bond market, with returns slumping, retail investors dumping bonds and volatility giving issuers pause. But some portfolio managers are jumping into the fray.
Municipal-bond investors still have concerns about the future of higher education even as schools in the U.S. look to a more normal-looking academic year thanks to Covid-19 vaccinations.
America’s municipal bonds are staging their longest winning streak against Treasuries in seven years.
America’s municipal bondholders have never been paid so little for taking on so much risk.
To the analysts at UBS Global Wealth Management, the $3.9 trillion municipal-bond market is heading into the biggest financial storm anyone has ever seen.
The star fund manager is famous for the power he wields in the market — and for making bets that other investors shy away from.
By some measures, the municipal-bond market is full of screaming buys for anyone brave enough to wade in.
In an incredible reversal, investors pulled a record $12.2 billion out of municipal-bond mutual funds.