With CEO Annie Seelaus
Investors seem cautiously optimistic today. Oil is hovering just over $30. The highlight of today’s muni calendar will be the pricing of a deal from the Chicago Board of Education, which was delayed last week.
Global markets are under pressure once again this morning as the sell-off in oil resumes in earnest. The highlight of today’s muni calendar will be the pricing of $210mln San Antonio Waters.
Global equities are trading off to start the week, down on weak Chinese manufacturing numbers. Munis continue to receive new cash as $594mln flowed into funds with 17 straight weeks of inflows.
Firm tone to global markets this morning as Japan’s central bank voted to adopt a negative interest rate policy. Equities are up and the Treasury market is rallying aggressively in response.
Oil is rebounding nicely at $32.85 and helping underpin the positive tone in the markets. In muni credit news, Chicago BOE delayed the sale of $875mln in new debt to give the market more time to digest the deal.
Earnings season continues to dominate the headlines in Corporates. Munis are mixed this morning and the highlight of today’s calendar is the weeks largest and most high profile deal, $750mln from the Chicago BOE.
Equity futures have finally made their way into the green, buoyed by a rebound in oil above $30. New muni issuance today with Nassau Counties, SF Airports, and Katy Texas where we expect to see extremely strong demand.
Munis are stronger this morning after a weak performance on Friday. The market is focused on this week's $5.6bn in new issuance, highlighted by a $875mln deal from Chicago BOE.
Risk markets are rallying worldwide today as European Central Bank President Mario Draghi indicated that he may further expand stimulus, and oil rallied over 10% off its lows and is currently above $31.
Stocks, Bonds & Beyond
With Founder and Chairman Rich Seelaus