Municipal Bond Trading Platform Reports Record Transactions
By Hal M. Bundrick
NEW YORK (MainStreet)--The bond market is in a state of transition and record transactions are signaling rapid movement by investors. An all-time one-day record of 11,590 municipal bond trades was noted this week by BondDesk ATS, a retail trading platform.
The record-setting trading day followed the largest three-day increase in muni yields since April 1987.
John Bagley, President of BondDesk Trading, says that interest in municipal bonds from retail investors has spiked over the past week, along with the increase in yields."The municipal bond market has seen exceptionally large selling from institutions since the Fed meeting last Wednesday," says Bagley. "This week, individual investors provided support for the market and drove yields down across the board by buying bonds at unprecedented levels. This buying was driven by an ability to buy 5.00% coupon bonds at par on a wide variety of quality municipal credits."
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV