Bond Buyer Archives - ׶Ƶ Know More. Risk Better.® Thu, 14 Sep 2023 14:43:28 +0000 en-US hourly 1 /wp-content/uploads/cropped-favicon-512x512-1-32x32.png Bond Buyer Archives - ׶Ƶ 32 32 Maui fires are another warning for electric utilities, analysts say https://www.bondbuyer.com/news/climate-change-adds-risks-for-electric-utility-bonds#new_tab Thu, 14 Sep 2023 14:43:28 +0000 /?p=14349 Municipal bond analysts say climate change increases risk to electric utility bonds.

The post appeared first on ׶Ƶ.

]]> Municipal bond analysts say climate change increases risk to electric utility bonds.

The post appeared first on ׶Ƶ.

]]> Analyst: Patient Hawaiian Electric bondholders may preserve principal https://www.bondbuyer.com/news/analyst-patient-hawaiian-electric-bondholders-may-avoid-haircut#new_tab Tue, 05 Sep 2023 13:53:04 +0000 /?p=14092 Securities issued by Hawaiian Electric – including tax-exempt revenue bonds guaranteed by the company – have been in freefall since the Lahaina fire.

The post appeared first on ׶Ƶ.

]]> Securities issued by Hawaiian Electric – including tax-exempt revenue bonds guaranteed by the company – have been in freefall since the Lahaina fire.

The post appeared first on ׶Ƶ.

]]> Fitch downgrades of munis tied to U.S. rating to have little impact on market https://www.bondbuyer.com/news/the-downgrade-of-munis-from-fitch-will-have-little-impact#new_tab Tue, 08 Aug 2023 17:37:31 +0000 /?p=13765 Following Fitch Ratings’ downgrade of the U.S. sovereign rating to AA-plus from AAA, the rating agency has downgraded certain municipal bonds tied directly to the creditworthiness of the federal government....

The post appeared first on ׶Ƶ.

]]> Following Fitch Ratings’ downgrade of the U.S. sovereign rating to AA-plus from AAA, the rating agency has downgraded certain municipal bonds tied directly to the creditworthiness of the federal government. Despire this, market participants say the muni market will see little impact.

The post appeared first on ׶Ƶ.

]]> Investors await outsized new-issue slate filled with high grades https://www.bondbuyer.com/news/high-grade-bond-deals-from-georgia-massachusetts-await#new_tab Mon, 31 Jul 2023 17:43:05 +0000 /?p=13569 Municipals were steady to start off the week, awaiting an outsized new-issue calendar, while U.S. Treasuries were slightly firmer 10 years and in and equities ended mixed. Despite the slow...

The post appeared first on ׶Ƶ.

]]> Municipals were steady to start off the week, awaiting an outsized new-issue calendar, while U.S. Treasuries were slightly firmer 10 years and in and equities ended mixed.

Despite the slow start for munis, “buyers are becoming more constructive, and there’s increased buying going on,” said Pat Luby, a ׶Ƶ strategist.

The post appeared first on ׶Ƶ.

]]> Muni outperformance continues amid dearth of supply https://www.bondbuyer.com/news/munis-are-steady-ahead-of-the-fourth-of-july#new_tab Mon, 31 Jul 2023 17:39:22 +0000 /?p=13567 Municipals were little changed ahead of the Fourth of July, while U.S. Treasuries were weaker and equities ended up. Triple-A yields were steady, while UST yields rose three to eight...

The post appeared first on ׶Ƶ.

]]> Municipals were little changed ahead of the Fourth of July, while U.S. Treasuries were weaker and equities ended up.

Triple-A yields were steady, while UST yields rose three to eight basis points.

The post appeared first on ׶Ƶ.

]]> Munis slightly firmer, USTs weaker https://www.bondbuyer.com/news/munis-slightly-firmer-usts-weaker#new_tab Mon, 06 Mar 2023 18:29:20 +0000 /?p=11642 Volatility of the broad fixed-income indices continues to exceed “pre-pandemic levels, making it more expensive for dealers to hedge their inventories, adding to the incentive for them to take a...

The post appeared first on ׶Ƶ.

]]> Volatility of the broad fixed-income indices continues to exceed “pre-pandemic
levels, making it more expensive for dealers to hedge their inventories,
adding to the incentive for them to take a lower risk profile in the market,
which can reduce secondary market liquidity and boost volatility further,”
said ׶Ƶ strategists Pat Luby and Sam Berzok.Over the next two months, they expect “the tax-exempt market will be subject
to even more exaggerated weakness.”

The seasonal decline in bond redemptions “will reduce reinvestment demand from the market,” they noted.

The post appeared first on ׶Ƶ.

]]> Utah power agency’s bonds finance transition to greener energy https://www.bondbuyer.com/news/utah-power-agencys-bonds-finance-transition-to-greener-energy#new_tab Mon, 25 Apr 2022 17:48:54 +0000 /?p=7238 ׶Ƶ said the bonds should be considered largely an LADWP credit given that it is the biggest power user among the 30 entities that have entered into 50-year take-or-pay power sales...

The post appeared first on ׶Ƶ.

]]> ׶Ƶ said the bonds should be considered largely an LADWP credit given that it is the biggest power user among the 30 entities that have entered into 50-year take-or-pay power sales contracts for the entire 840 megawatt capacity of the new project.

“Given that IPA hasn’t sold bonds since 2018 and more bonds are expected, this is a good opportunity for many national investors to build a position in a new name and to add California exposure without paying up for California bonds,” ׶Ƶ said in a report.

׶Ƶ added that the bonds allow investors “to participate in a new, greener project in a familiar structure from a long-standing issuer.”

The post appeared first on ׶Ƶ.

]]> Munis sell off, 30-year AAA tops 3% https://www.bondbuyer.com/news/munis-sell-off-30-year-aaa-tops-3#new_tab Tue, 19 Apr 2022 17:54:12 +0000 /?p=7246 ׶Ƶ strategists Pat Luby and John Ceffalio said as municipal bond yields climbed last week, spreads for the ICE municipal credit indices widened. The single-A, triple-B, and high-yield indexes all widened...

The post appeared first on ׶Ƶ.

]]> ׶Ƶ strategists Pat Luby and John Ceffalio said as municipal bond yields climbed last week, spreads for the ICE municipal credit indices widened. The single-A, triple-B, and high-yield indexes all widened by three basis points, while the double-A Index to widened by two basis points to +5, they noted in a Monday report.

The post appeared first on ׶Ƶ.

]]> Selling pressure hits munis hard, long USTs reach three-year highs https://www.bondbuyer.com/news/selling-pressure-hits-munis-hard-long-usts-reach-three-year-highs#new_tab Mon, 11 Apr 2022 19:46:43 +0000 /?p=7131 ׶Ƶ senior municipal strategists Pat Luby and John Ceffalio said after last week’s outperformance of munis relative to corporates, the advantage of tax-exempts over comparably rated corporate bond after-tax yields has...

The post appeared first on ׶Ƶ.

]]> ׶Ƶ senior municipal strategists Pat Luby and John Ceffalio said after last week’s outperformance of munis relative to corporates, the advantage of tax-exempts over comparably rated corporate bond after-tax yields has practically vanished.

The post appeared first on ׶Ƶ.

]]> Muni yields rise further while UST curve inverts https://www.bondbuyer.com/news/muni-yields-rise-further-while-ust-curve-inverts#new_tab Tue, 29 Mar 2022 01:05:38 +0000 /?p=7009 Institutional bids wanted volume on Bloomberg was the heaviest since the week ended April 3, 2020. The total par amount out for the bid was $6.3 billion, more than double...

The post appeared first on ׶Ƶ.

]]> Institutional bids wanted volume on Bloomberg was the heaviest since the week ended April 3, 2020. The total par amount out for the bid was $6.3 billion, more than double the 52-week average of $3.1 billion and 20% more than the previous week’s total, according to ׶Ƶ strategists Pat Luby and John Ceffalio.

The post appeared first on ׶Ƶ.

]]>