Municipal Issuers Rushing to Market Before Election “Month”
09/14/2020
-
We saw $1.005 billion flow into municipal funds per Lipper data released last week. This was the 18th consecutive week of flows into municipal mutual funds.
-
We are expecting heavy primary market issuance this week of over $10 billion.
-
It seems issuers are rushing to complete financings before Election Day, Nov. 3, 2020.
-
Fareed Zakaria says the media should prepare observers for an election "month" because results may not be final on election night.
-
It is possible that the 2020 election could create a municipal market dynamic that combines elements from 2000 and 2016.
-
It took weeks after Election Day in 2000 before the Supreme Court finally helped name George W. Bush as president.
-
A month after the 2016 election municipal bond market demand weakened, and the 10-year AAA MMD benchmark rose by almost 90 basis points.
