Tax-exempt municipal yields rose substantially last week causing the MSRB to take a look at trade data, said John Bagley, MSRB chief market structure officer.
The municipal market is dealing with a major liquidity event, with massive short-end selling.
Mortgage real estate investment trusts are taking stock of their financial ability to respond to market shocks and other concerns stemming from the coronavirus.
Canadian policymakers are escalating their efforts to backstop the nation’s financial system and ensure banks have plenty of room to continue lending through the coronavirus crisis.
Add continued growth in commercial and multifamily mortgage debt outstanding to the list of things that the economic fallout from the coronavirus might affect.
The Federal Reserve's most recent economic-stimulus effort could reduce disparities between a rally in Treasurys and a relative slump in mortgage-backed securities that contributed to higher average home-lending rates last week.
The municipal finance industry is dealing with minute-by-minute news of state-wide school closures, shuttered restaurants, curfews and canceled events. New issues are increasingly being put on the day-to-day calendar.
Muni market players may have to rely on more than their basic instincts as the economy heads into stormy weather.
Uncertainty still abounds for the public finance space, as just before the market close, President Trump declared a national emergency. Meanwhile, states and cities across the country are closing schools, sporting events, and cutting back public transit. But Friday, at least, provided some reprieve from the five previous volatile days.
Not so long after Treasury bond yields experienced an unprecedented drop, the average 30-year mortgage rate rose, reflecting volatility related to the coronavirus as well as capacity issues on multiple levels.