If you're interested in learning more about municipal bonds and our upcoming premium service Muni Markets Daily, email us at email@example.com.Municipal bonds declined again today, marking the 20th straight session where the 30-year maturity, triple-A credit did not gain. A building new-issue calendar this week and a selloff in the Treasury market made for a difficult day in the tax-exempt securities market. Meantime, the new-issue market kicked off the week quickly with several large offerings to retail investors this morning. The day also contained a highly watched competitive deal that sold at noon. In terms of day-to-day total returns:
- The high-grade, short end of the curve showed a total return of negative 0.001%, according to Municipal Market Advisors (MMA) data .
- The high-grade, intermediate part of the curve showed a total return of negative 0.02%.
- The high-grade, long end of the curve showed a total return of negative 0.05%.